July 22, 2010

Approval of proposal by The Toronto-Dominion Bank

For immediate release

The Federal Reserve Board on Thursday announced its approval of the application under section 3 of the Bank Holding Company Act by The Toronto-Dominion Bank, Toronto, and its subsidiary bank holding companies, TD US P & C Holdings ULC, Calgary, both of Canada, and TD Bank US Holding Company, Portland, Maine, to acquire The South Financial Group, Inc. and its subsidiary bank, Carolina First Bank, both of Greenville, South Carolina.

Attached is the Board's Order relating to this action.

Last Update: July 22, 2010