TD Bank Group completes acquisition of Target's U.S. credit card portfolio and enters into a seven-year program agreement

TD Bank Group completes acquisition of Target's U.S. credit card portfolio and
                  enters into a seven-year program agreement

PR Newswire

TORONTO, March 13, 2013

TORONTO, March 13, 2013 /PRNewswire/ - TD Bank Group (TD) (TSX and NYSE: TD)
today announced the completion of its transaction with Target Corporation
(Target) (NYSE: TGT), in which TD has acquired Target's U.S. Visa and private
label card portfolio and entered into a seven-year program agreement to be the
exclusive issuer of Target-branded Visa and private label consumer credit
cards to Target's U.S. customers.

"We are thrilled to be working with Target, a leading retailer that shares our
strong commitment to the customer. Target's REDcard value proposition and
extensive store network will help us continue to expand our growing North
American card business," said Michael Rhodes, Executive Vice President, North
American Credit Cards and Merchant Services, TD Bank Group.

With this transaction, TD has acquired more than 5 million active Visa and
private label accounts, with a gross outstanding balance of US$5.7 billion,
and will fund the receivables for existing Target Visa accounts and all
existing and newly issued Target private label accounts in the U.S.

As previously announced, under the terms of the program agreement, Target is
responsible for all elements of operations and customer service and bears most
operating costs to service the assets. TD controls risk management policies,
oversees regulatory compliance and bears all costs related to funding the

For additional details on the transaction please refer to TD's October 23,
2012 press release, which is available on

About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD
Bank Group (TD). TD is the sixth largest bank in North America by branches and
serves approximately 22 million customers in four key businesses operating in
a number of locations in key financial centres around the globe: Canadian
Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance
Canada; Wealth and Insurance, including TD Waterhouse, an investment in TD
Ameritrade, and TD Insurance; U.S. Personal and Commercial Banking, including
TD Bank, America's Most Convenient Bank, and TD Auto Finance U.S.; and
Wholesale Banking, including TD Securities. TD also ranks among the world's
leading online financial services firms, with more than 9 million online
customers. TD had CDN$818 billion in assets on January 31, 2013. The
Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York
Stock Exchanges.

SOURCE TD Bank Group


Rudy Sankovic
TD Bank Group

Stephen Knight
TD Bank Group
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