Ameritrade Announces That Tom Bradley Will Lead Institutional Services and John Bunch Will Direct Branch Distribution for TD Ameritrade

"Tom and John bring exceptional leadership and strategic insightto Ameritrade that complements the strength of our current managementteam," said Joe Moglia, chief executive officer. "Their contributionswill play a critical role when we integrate TD Waterhouse and enhanceour long-term investor strategy."

Bradley is currently president of TD Waterhouse InstitutionalServices and executive vice president of TD Waterhouse Group, Inc.where he is responsible for the company's independent investmentadvisor services business and capital markets. Prior to assuming hiscurrent role, he held several key positions with TD Waterhouse. He hasmore than 20 years experience in the financial services industry.

Bunch will also join the Company from TD Waterhouse where hecurrently serves as the executive vice president of branchdistribution, overseeing a nationwide retail network of over 140branches. He will bring over 14 years of financial services industryexperience to his new role at the Company.

Integration Planning Update

In conjunction with the planned integration of the two firms, theJersey City, New Jersey call center operated by TD Waterhouse USA willbe transitioned immediately following the transaction's close withjobs being relocated to the Ameritrade call center located in FortWorth, Texas.

More information about the planned integration will becommunicated at the quarterly conference call to discuss fiscal fourthquarter and full year results and related matters on Tuesday, October25, 2005 at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

About Ameritrade Holding Corporation

For 30 years, Ameritrade Holding Corporation has providedinvestment services to self-directed individuals through its brokeragesubsidiaries. Ameritrade develops and provides innovative products andservices tailored to meet the varying investing and portfoliomanagement needs of individual investors and institutionaldistribution partners. A brokerage industry leader, Ameritrade,Inc.,(1) a subsidiary of Ameritrade Holding Corporation, recentlyreceived a four-star rating in the 2005 Barron's Review of OnlineBrokers for its Apex active trader program. For more information,please visit www.amtd.com.

(1) Ameritrade, Inc., member NASD/SIPC

Safe Harbor

This press release contains forward-looking statements thatinvolve risks and uncertainties. For example, statements related toexpected location and closing of call centers, management of TDAmeritrade following the closing of the transaction, timing of futureintegration planning updates and other statements that are nothistorical facts, are all forward-looking statements. These statementsreflect only our current expectations and are not guarantees of futureperformance or results. Various factors could cause actual results todiffer materially from those anticipated by the forward-lookingstatements. These factors include the possibility that the necessarystockholder and regulatory approvals are not obtained; that thetransaction does not close when expected or at all, or that thecompanies may be required to modify aspects of the transaction toachieve regulatory approval; prior to the closing of the proposedtransaction, the businesses of the companies suffer due touncertainty; that TD Ameritrade is unable to transition customers,successfully execute its integration strategies, or achieve plannedsynergies, or that the occurrence of these events takes longer thanexpected; that management is unable to accurately forecast theanticipated integration of TD Ameritrade; that TD Ameritrade is unableto compete successfully in this highly competitive and rapidlychanging marketplace; that the parties are unable to retain employeesthat are key to the operations of the combined business; and that TDAmeritrade is unable to identify and realize future consolidation andgrowth opportunities. These and other risks that could cause actualresults to differ materially from those described in theforward-looking statements are detailed from time to time in thedocuments filed by Ameritrade with the Securities and ExchangeCommission, including Ameritrade's most recent form 10-K and 10-Q.

Additional Information and Where to Find It

In connection with the proposed transaction, Ameritrade filed apreliminary proxy statement concerning the transaction with theSecurities and Exchange Commission ("SEC") on September 12, 2005.Ameritrade will also file a definitive proxy statement and relevantdocuments with the SEC in connection with the proposed transaction.SECURITY HOLDERS OF AMERITRADE ARE URGED TO READ THE DEFINITIVE PROXYSTATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHENTHEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.Investors and security holders can obtain free copies of thedefinitive proxy statement and other documents when they becomeavailable by contacting Investor Relations at www.amtd.com, or by mailat Ameritrade Investor Relations, 4211 S. 102 Street, Omaha, NE 68127,or by Telephone: 800-237-8692. In addition, documents filed with theSEC by Ameritrade are available free of charge at the SEC's web siteat www.sec.gov.

Ameritrade Holding Corporation, The Toronto-Dominion Bank, andtheir respective directors and executive officers may be deemed to beparticipants in the solicitation of proxies from the stockholders ofAmeritrade in connection with the proposed transaction. Informationregarding the special interests of these directors and executiveofficers in the proposed transaction is included in the preliminaryproxy statement of Ameritrade described above. This document isavailable free of charge at the SEC's web site at www.sec.gov and fromInvestor Relations at Ameritrade as described above. Informationregarding The Toronto-Dominion Bank's directors and executive officersis available in its Annual Report on Form 40-F for the year endedOctober 31, 2004, which was filed with the SEC on December 13, 2004,and in its notice of annual meeting and proxy circular for its 2005annual meeting, which was filed with the SEC on February 17, 2005.These documents are available free of charge at the SEC's web site atwww.sec.gov.