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LONDON, UK, Feb. 17 /CNW/ - TD Waterhouse, the UK's 2nd largest execution-only broker, has reached an agreement through its parent The Toronto-Dominion Bank (TD) to increase its stake in Internaxx Bank, the leading offshore online bank for international and expatriate investors. TD and its subsidiaries are collectively known as TD Bank Financial Group (TDBFG). Internaxx, based in Luxembourg where it began trading in 2001, is jointly owned by TDBFG, North America's 6th largest bank by branches, and BGL, one of the leading banks in Luxembourg. With effect from 12th February a deal was completed that increases TD's stake from 25 per cent to 75 per cent, with BGL retaining a minority interest. Internaxx will primarily be managed through TD Waterhouse UK, which already provides the back office, trading, clearing and settlement for Internaxx's multi-language and multi-currency service. The move constitutes an important step for both businesses as they jointly look to strengthen their service proposition in Europe. Angus Rigby, CEO, TD Waterhouse UK and Senior Vice President, TDBFG comments: "In a climate of global recession, we are one of the few financial institutions that is in a position to invest in, and grow, our business. TD Waterhouse offers one of the most comprehensive and competitive international trading services from a UK broker and we are continually looking for opportunities that would enable us to expand these services further." "With its international range of products and multi-lingual customer service, Internaxx has grown into the leading offshore online broker for expatriate and international investors. Taking a controlling interest will help us to deepen our European market expertise and produce cost synergies between both businesses." Robert Glaesener, General Manager of Internaxx Bank, adds: "TD's increase in ownership will open up new and increased opportunities for Internaxx. TDBFG is a solid and expanding financial institution with a global presence in online brokerage. Additionally, it gives Internaxx the basis to further expand its franchise as we consolidate and grow our leading position as an online bank for expatriate and international investors." Angus Rigby concludes: "Our aim is for TD Waterhouse UK to be the gateway to Europe for online brokerage services and Internaxx's local market knowledge will be invaluable if we are to achieve this. In return, Internaxx will continue to benefit from the combined and complimentary strengths of its owners together with the commitment and support of the Internaxx team itself." Notes to editors: About TD Waterhouse UK - TD Waterhouse is one of the UK's leading execution-only brokers and part of the TD Bank Financial Group (TDBFG). TD Waterhouse UK provide investors with simple, efficient, secure and cost effective dealing services, combined with high quality news and information from leading providers including MorningStar, AFX and Hemscott. TD Waterhouse UK also offers services for both active traders and longer-term investors, including UK and international equity trading with access to 16 international markets (14 of which are available online). Other services includes Individual Savings Accounts (ISAs), Self Invested Personal Pensions (SIPPs), Contracts for Difference (CFDs) and Financial Spread Betting. Brokerage Services provided by TD Waterhouse Investor Services (Europe) Limited (a subsidiary of The Toronto-Dominion Bank). Authorised and regulated by the Financial Services Authority (FSA), 25 The North Colonnade, Canary Wharf, London E14 5HS (FSA registered number 141282), member of the London Stock Exchange and the PLUS market. TD Waterhouse UK - Award winning service: - YourMoney Awards: Best Online Share Dealing Provider 2008, 2007 & 2006 (winner), Best Direct Share Dealing Provider 2008 (winner) - Shares Awards: Best Online Trading Platform 2008 (winner), Best Online Broker 2007 (winner), Best International Share Dealing Service 2006 (winner) - MoneyAM Online Finance Awards: Best Online US Market Service 2008 (winner) About TD Bank Financial Group (TDBFG) - The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the 6th largest bank in North America by branches and serves approximately 17 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 Insurance; - Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; - U.S. Personal and Commercial Banking through TD Banknorth and TD Bank, America's Most Convenient Bank; and - Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 5.5 million on-line customers. TD Bank Financial Group had CDN$563 billion in assets as of October 31, 2008. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange. About Internaxx - Internaxx is an international online brokerage service based in Luxembourg jointly owned by TD Waterhouse and BGL. It offers online real time share dealing, discounted offshore mutual funds, FX and derivatives trading to several thousands of expatriate and international investors worldwide. Internaxx can be accessed online 24 hours a day and 7 days a week via, or through a multilingual Call Centre during trading hours. Internaxx Bank S.A. is registered and regulated as a bank under Luxembourg law. Local supervision Internaxx Bank S.A. has the full status of a bank, and is supervised by the "Financial Sector Supervisory Commission (Commission de Surveillance du Secteur Financier)", which is the regulatory authority for financial service institutions in Luxembourg. As such, Internaxx is subject to the stringent banking and privacy laws which prevail in Luxembourg. Additionally, the Bank is a member of the "Luxembourg Association for the Guarantee of Deposits". Luxembourg Financial Center Luxembourg is a founding member state of the European Union and a host to major European institutions such as the European Investment Bank, the European Audit Office and the European Court of Justice. Its openness to foreign investment and its position as a highly regarded and solid international financial centre have attracted more than 150 international banks servicing clients throughout the world. In addition, Luxembourg has grown to become the biggest investment fund center in the world after the United States. Its convenient geographical location, its social and political stability, and its multilingual and international workforce make Luxembourg a highly efficient and recognized hub for distributing financial services in-and out of Europe. For further information: journalists should contact: TD Waterhouse UK: Karen Garner, Media Relations Manager, t: +44 (0) 113 346 2946, e:; Internaxx: Sophie Noel, Communication Manager, Internaxx, t: 00 352 2603 2026, e:

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