TORONTO - TD Bank Financial Group today provided details of the Bank's loans to the media and communications sector.

At September 30, 2000, total loans were $8.946 billion, of which $5.044 billion were investment grade and $3.902 billion non-investment grade. Specific lending to the telecom sector (which excludes cable programming/broadcast, diversified media, publishing and computer related) represents under two-thirds of total loans, with over 50% of all telecom loans to investment grade companies.

* Other communications related enterprises that do not fall under otherwise noted categories (i.e. equipment supplier, music production)

Also at September 30, 2000, TD had approximately US$200 million of inventory in its high yield bond trading portfolio, of which approximately half relates to the wireless industry. This portfolio is marked to market every day and losses to date in the quarter are not material.

TD is comfortable with the quality of its portfolio, and does not anticipate modifying its current loan loss provisions in the fourth quarter of 2000.

The vast majority of TD's telecom activities focus on senior debt, rather than equity financing or subordinated debt – as such, TD continues to see revenue opportunities going forward in the sector.

TD is regarded as a leader in providing financial services to the telecommunications industry, a reputation built over the more than 20 years since it began to work with businesses in this sector. In fact, as a result of its telecom expertise and through several economic cycles. TD has not had a material loss in its telecom loan portfolio.

As part of its regular reporting of financial results, TD routinely discusses credit quality each quarter. TD's next quarterly financial results will be released on November 16.