TD Banknorth International Banking Office Information

     Exporting is helping one high tech company in Massachusetts expand its business. Azores Corp., a Wilmington-based manufacturer of precision photolithographic printers, is competing in the global marketplace thanks, in part, to the help of TD Banknorth and the Export-Import Bank of the United States.
     Azores' products are used in the manufacture of flat panel displays for cell phones, PDAs and laptop computers. When the company needed financing recently to support a large order from Taiwan, it turned to TD Banknorth.
     "Using their Delegated Authority from the Ex-Im Bank, TD Banknorth was able to put a facility in place and give us the funding we needed to fulfill the order," says Pat DiIanni, chief financial officer at Azores. "Moreover, TD Banknorth is working with us to process the letter of credit we received to guarantee payment from our Taiwanese customer."
     In March 2005, TD Banknorth Inc. became a majority-owned subsidiary of the Toronto Dominion Bank Financial Group. As one of the 30 largest commercial banking organizations in the United States, the bank offers comprehensive international banking solutions for importers and exporters. On July 12, 2005, the company announced it had entered into a definitive agreement to acquire Hudson United Bancorp of Mahwah, N.J.
     "This acquisition is consistent with our growth strategy and will significantly expand our franchise in both Connecticut and eastern New York, while providing us with a presence in the fast-growing markets of New Jersey and Philadelphia," says William J. Ryan, TD Banknorth's chairman, president and chief executive officer.
     Ben Schwartz, senior vice president and director of international banking at TD Banknorth, adds that "by offering traditional and innovative financing techniques, we can work with our customers to structure trade terms that minimize risk and maximize liquidity to enhance their overall competitiveness in the international marketplace."
     Moreover, says Schwartz, "we utilize the full range of international trade tools - such as wire transfers, foreign exchange contracts, foreign drafts, foreign checks, letters of credit, bankers acceptances and documentary collections, as well as lines of credit - in support of our customers who import or export."
     "A mainstay of international trade, letters of credit are valuable tools when used to settle payments in transactions for goods and services, both imported and exported. "They help protect buyers and sellers against potential error and credit risk," says Schwartz. "We tailor these instruments appropriately to fit the specific business needs of our customers for example by discounting time drafts drawn on foreign banks for which the TD group is able to assume the country and bank risk."
     The role of an international banker is constantly evolving in response to the changing global marketplace. For example, the emergence of China, India, Mexico and Brazil as major U.S. trading partners requires new solutions for managing associated risks. At the same time, traditional U.S. trading partners - Europe, Canada and Japan - still represent a large share of imports and exports. For those markets, the banking focus continues to be managing foreign exchange risk for euros, pounds, Canadian dollars and yen.
     "Companies large and small," notes Schwartz, "need to have a strong partnership with an international bank to help manage these issues in a relationship with economic benefits for both parties."
     TD Banknorth offers its customers full-service international banking capabilities. "At the same time," says Schwartz, "our community-based banking approach enables us to deliver world class customer service and customized solutions for our business customers."

More information about TD Banknorth's international banking services is available online at www.tdbanknorth.com or by contacting Ben Schwartz, 781-229-5450, bennett.schwartz@tdbanknorth.com