Toronto, August 10, 2009, - TD Asset Management (TDAM) is delighted to welcome Brian Murdock as Chief Executive Officer. This follows the announcement last April that Rob MacLellan will be retiring.

Brian Murdock brings 29 years of industry experience to TDAM. Most recently he was President and CEO of New York Life Investment Management, having joined the company as President in 2004. Prior to this he was with Merrill Lynch for 25 years, ultimately as COO of Merrill Lynch Investment Managers in the U.S. His experience with Merrill Lynch in senior executive and portfolio management positions spans many regions of the globe including the United States, Japan, Hong Kong and the United Kingdom.

To reflect the different constituencies that TDAM supports, Barb Palk, President of TDAM, Tim Pinnington, President of TD Mutual Funds and Satish Rai, Vice Chair of TDAM will all report directly to Brian.

Brian takes on this role at a time when TDAM’s businesses are widely being recognized for their success. Our strategy is now focused on building a platform that is increasingly North American in scope and Brian’s many years of global experience in investment, distribution and business management will be an important asset in shaping our plans as we build for the future.

“I am excited to join TDAM at this auspicious time”, Brian Murdock says. “Money managers of this quality, stability and strength are in great demand by clients, consultants and investors across the continent, as the challenges of achieving investment performance continue to multiply. TDAM’s clear focus on building its businesses based on the evolving needs of its investment clients provides a strong foundation for future development. We have a terrific opportunity to work together to extend this great Canadian franchise into a true North American enterprise. I look forward to further developing my understanding of TDAM’s clientele and determining how our team of professionals can best serve their needs, in order to grow this successful franchise together.”

TD Asset Management is a highly diversified North American investment management organization with leading Canadian market positions in active, quantitative and passive portfolio management. As of June 2009, TD Asset Management’s investment professionals manage an aggregate of (CAD) $164 billion of assets on behalf of pension, insurance, endowment/foundation and corporate clients, as well as for high-net worth individuals and retail mutual funds. TD Asset Management operates in Canada as TD Asset Management Inc. and in the United States as TDAM USA Inc., with offices in Toronto, Montreal, New York and Boston.

If you have any questions please contact Robin Lacey at 416-944-6313 or your Relationship Manager.