GCA ACM Contracts

Twenty gaming properties have recently signed contracts to use the innovative products and services of Global Cash Access (GCA). GCA is the leading supplier of cash access, financial management and customer relationship marketing technologies to the gaming industry.

Among the products and services offered by GCA are the Automated Cashier Machine (ACM(SM) and an array of guest development marketing services.

ACM is a “smart ATM” that uses Internet and facial biometric technology to offer patrons a quick way to access multiple cash access services and other entertainment needs in a single stop – without the need of cage operator assistance.

GCA’s guest development marketing services assist casinos in understanding their customers and increase traffic to the gaming floor and events.

Properties that signed agreements with GCA are:

— Athena – Tarpon Springs, Fla. — Bully’s Sports Bar Mount Rose – Reno, Nev. — Bully’s No. 3 – Sparks, Nev. — Fantasea Cruises – Texas City, Texas — Harrah’s Jazz Casino – New Orleans, La. — Harrah’s St. Louis Casino and Hotel – Maryland Heights, Mo. — Jump Up Casino – St. Maarten, Netherlands, Antilles — Santa Ana Star – Bernalillo, N.M. — TLC Enterprises, Inc. — Golden West Casino – Las Vegas — Howl at the Moon Saloon – Las Vegas — Loose Caboose Central – Las Vegas — Loose Caboose Nellis – Las Vegas — Loose Caboose Rainbow – Las Vegas — Loose Caboose Saloon – Las Vegas — Loose Caboose Tropicana – Las Vegas — Magoos Bar & Grill – Las Vegas — Magoos Cheyenne – Las Vegas — Magoos East – Las Vegas — Magoos Hideaway – Las Vegas — Top Cat Bar – Las Vegas

Global Cash Access was formed in 1998 and is a joint venture of First Data Corp. and M&C International, Inc. Providing access to the gaming industry’s largest patron database, Global Cash access uses Internet technologies to deliver funds transfer, financial management and customer relationship marketing services to more than 1,000 gaming properties nationwide. More information on the company is available at [www.globalcashaccess.com][1].

[1]: http://www.globalcashaccess.com

Details

OPC in KS

Official Payments Corporation announced that Anderson, Morton, Sherman, Thomas, Allen, Meade, and Rice County have signed service agreements.

These agreements enable taxpayers to pay their personal property, which includes motor vehicle renewal, and real estate tax obligations over the Internet by visiting www.officialpayments.com, or via the telephone by calling toll-free 1-800-2PAY-TAX. American Express(R), Discover Card(R), MasterCard(R) and VISA(R) are the cards accepted by the program. Official Payments Corp. is the leading provider of electronic payment options servicing over 900 government entities within 48 states, the Internal Revenue Service, 18 state governments including the state of Kansas, and the District of Columbia to collect taxes, fees, and fines by credit card over the Internet and telephone.

“We are making great progress in Kansas with both top-down and bottom-up business growth,” said Thomas R. Evans, Chairman and CEO of Official Payments Corp. “Earlier in the year we entered into new agreements at the state level and we have continued to make solid advancement with local government clients. We now do business with 27 counties and municipalities in Kansas,” added, Mr. Evans.

County real estate tax bills will be distributed between November 1st and November 10th; bill due dates are December 20th and June 20th. County personal property bills are distributed on a monthly basis by last name. This new option has been live in Meade, Rice, and Allen County. The service will be live later this year in Thomas, Sherman, Morton, and Anderson County.

Official Payments Corp. charges taxpayers a convenience fee for processing these credit card transactions. The fee schedule can be found on the Internet at www.officialpayments.com. For example, a taxpayer who owed a current tax of $800.00 in real estate taxes and charged their taxes, would find a total of $825.00 on their credit card statement: $800.00 for the tax bill and $25.00 for the convenience fee. American Express(R), MasterCard(R), Discover(R) and VISA(R) are the credit cards accepted by the program. Taxpayers using credit cards with bonus rewards programs can, depending on their card’s program, earn rewards, points, and cash-back on airline frequent flyer miles for paying their taxes.

About Official Payments Corporation

Official Payments Corporation (Nasdaq: OPAY) is the leading provider of electronic payment options to government entities. The company’s principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration and national footprint. Official Payments has agreements to collect and process credit card payments with the Internal Revenue Service, 18 state governments, the District of Columbia, and over 900 county and municipal governments in 48 states across the United States. In 2000, Official Payments collected and processed over $925 million in federal, state and local government payments.

Official Payments was founded in the San Francisco Bay area in 1996. Thomas R. Evans, the former President & CEO of the Internet company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO on the NASDAQ national market. The company’s success in new client acquisition, increasing business with its existing clients and in building consumer awareness can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency in developing and implementing leading-edge technical systems.

Details

Vital Gets Retriever

Vital Processing Services has acquired the remaining minority interest in Golden Retriever Systems. The 49% membership interest purchased by Vital was owned by Netcentives. Netcentives acquired its 49% interest in GRS through the acquisition of UVN Holdings in March 2000. GRS technology provides the back-end technology for Netcentives’ registered credit card programs. In connection with the sale of its interest, Netcentives and GRS extended the term of the current license and service agreement whereby Netcentives will continue to operate the Momentum shopping programs for Delta and United. Vital has owned a majority interest in GRS since February 1997. GRS will now operate as a wholly owned subsidiary of Vital. AZ-based GRS is a value added data aggregation, storage, reporting and processing company, whose clients include merchant acquirers and loyalty/rewards programs.

Details

Intarsia V3

SEDONA Corporation ([www.sedonacorp.com][1]), the leading provider of Web-based Customer Relationship Management solutions for small and mid-sized financial services companies, announced the successful launch and general release of the new version of its Customer Relationship Management system – Intarsia.

Intarsia V3 was released following a structured beta-testing period by several SEDONA customers.

Among its new features, Intarsia V3 includes a completely Web-based report writer that is cost-effective and utilizes a guided report creation process. The new report allows a user to build HTML reports with prompts and drill-downs, and enables the user to publish reports to Intarsia’s portal so that all users in the financial institution can share information.

“The new Version 3.0 makes it even easier for us to get critical data out to the people within the organization that need it to perform customer service or do business analysis,” said Troy Beaver, Senior Vice President and Marketing Director, Bremer Financial Services, St. Paul, MN. “The new report writing capabilities provide us with a way to quickly and easily develop customized reports and then easily distribute the results throughout the entire bank. This enables everyone in the bank to participate in our CRM mission in delivering excellent customer service as well as implementing successful sales and marketing programs.”

Another new feature of Intarsia V3 is the ability to measure profitability using Funds Transfer Pricing (FTP), the most accurate method on the market today. FTP helps a financial institution calculate more accurate profitability measurements because it looks at historical interest rates, rather than simply taking the current rate as is used with other profitability technologies.

Several existing SEDONA customers have indicated their interest in this new feature to further hone their profitability analyses and, subsequently, decisions made due to this critical data.

Intarsia V3 also provides the ability to run the CRM system simultaneously with the financial institutions’ core processing system on IBM eServer iSeries (AS/400) systems. The iSeries systems are high-performance, integrated business servers for mid-market, that are widely popular among community banks and credit unions.

“The ability for us to run our Intarsia system on the same iSeries platform as our core processing system represents a tremendous savings to us both in terms of hardware costs and technical staffing costs,” said Tom Bayless, Chief Financial Officer, RCB Bank, Claremore, OK. “The affordability and robustness of Intarsia, along with its compatibility to the iSeries, makes Intarsia V3 the CRM product of choice for small and mid-sized financial institutions.”

“SEDONA developed Version 3.0 based on feedback from focus groups of banking and credit union customers and prospects as well as input derived from meetings with our partners and software development team,” said Marco Emrich, President and CEO, SEDONA Corporation. “This new version continues to raise the bar in delivering a CRM solution for small and mid-sized financial services organizations wanting to improve their ability to identify, acquire, foster, and retain loyal, profitable customers.”

About Intarsia

SEDONA’s Intarsia(TM) is a comprehensive Web-based CRM solution that helps aggregate silos of information to provide a single, consistent source for customer information.

The system includes all the data analysis functionality of MCIF technology such as profitability analysis, householding, and visual profiling, but in addition, it also provides Internet read-and-write access for any authorized user within an organization.

As such, Intarsia provides quick and easy access to all critical information to allow all bank or credit union personnel to make efficient and effective business customer-centric decisions.

About SEDONA Corporation

SEDONA(R) Corporation (Nasdaq: SDNA) is the leading provider of Customer Relationship Management (CRM) solutions for small and mid-sized financial services companies. SEDONA’s Web-based software, Intarsia(TM), and supporting Marketing Solution Services enable the entire financial institution to help identify, acquire, foster, and retain loyal, profitable customers.

With its affordable, quick, and easy implementation, SEDONA helps clients rapidly increase their ability to acquire and retain customers and to improve product pricing, packaging, and cross-selling opportunities, and to increase operational efficiency aimed towards improving overall profitability.

SEDONA markets Intarsia together with leading solution providers such as IBM(R) Corporation and Acxiom(R) Corporation. For additional information, visit the SEDONA Web site at www.sedonacorp.com or call 1-800-815-3307.

[1]: http://www.sedonacorp.com/

Details

AMEX PLATINUM

American Express redefined the world of privilege with the launch of the exclusive American Express Platinum Card in India. The Platinum Card is coveted the world over for its almost limitless variety of personal services and benefits, and is regarded as the ultimate symbol of prestige and recognition. The American Express Platinum Card will be available in India by invitation only.

American Express, the world’s largest card issuer, has designed the Platinum Card for a select group of American Express’ customers in India, with a powerful package of benefits unmatched by any other card provider in India.

Announcing the launch of the Platinum Card, K L Muralidhara, vice president and country manager, American Express TRS, India & Area countries said, “We are delighted to bring the Platinum Card to the Indian market for a select group of individuals who seek personalized service and access to previously unavailable services and travel benefits. We are confident that the Platinum Card will have a very positive response because it meets the exacting needs of our customers.

”The American Express Platinum Card comes with an additional Platinum Card for the Basic Cardmember to separate personal and business expenses, as well as up to four supplementary Platinum Cards. Supplementary cardholders are entitled to enjoy virtually the same benefits and services as cardmembers.

The Platinum Card is the ultimate in charge card benefits and services, offering business and lifestyle assistance from a worldwide team of dedicated professionals that goes beyond booking flights and making hotel reservations. Platinum Cardmembers are provided worldwide personal services: from top quality medical assistance to legal aid; to arrange evacuation and repatriation in the event of a medical emergency; from locating and purchasing goods and services to event tickets and exclusive restaurant reservations; anywhere in the world, 24 hours a day. Additionally, Platinum Cardmembers can receive:International Airline ProgramThe exclusive International Airline Program will offer unequalled benefits for American Express Platinum Cardmembers in India.

Platinum Cardmembers will receive substantial savings when they travel – and could even take a companion free in first or business class. The exclusively created benefits also include upgrades and special airfare structures when Platinum Cardmembers travel on specific partner Airlines, namely: KLM, Northwest, Malaysia Airlines and Emirates.Travel Services and Travel InsuranceAll travel needs of Cardmembers can be efficiently taken care of – from booking flights and arranging hotel accommodations, to providing assistance in the event of an emergency. Cardmembers will receive complimentary room upgrades as well as free continental breakfast for two and late check-out at over 600 of the world’s most luxurious hotels. Moreover, during the journey, Cardmembers will be automatically insured against air accidents for up to Rs. 1 Crore.

Worldwide Personal AssistanceA specially dedicated team of experienced professionals guarantees Cardmembers worldwide services 24 hours a day, seven days a week. For instance, The Platinum Card Service will help with passport and visa replacements and emergency funds if a Cardmember loses his briefcase with wallet and passport inside. A replacement Card will also be immediately issued, if lost. In addition, The Platinum Card Service also includes medical assistance, legal aid, hospitality packages and more.

Complimentary membershipsPlatinum Cardmembers are entitled to complimentary Membership to the prestigious St. James’ Club at London and to The Towers Club at ITC Welcomgroup properties in India, where they will also receive special offers. Cardmembers also get free enrollment into Hertz #1 Club Gold.

Lifestyle ServicesTo entertain business associates or relax with family and friends, the Platinum Card Service can recommend activities and make all the arrangements, including ordering flowers, champagne and chocolates, purchasing goods, restaurant recommendations, theatre bookings, and limousine service. In addition, Cardmembers will receive information about entertainment opportunities and special-event offers throughout the year.“The Platinum Card symbolizes the long-standing essence of the American Express Brand – security, trust and quality service. Because we are an independent card issuer with a global network in card and travel services, only American Express can guarantee the best services to its cardmembers,” added Muralidhara.

American Express’ strategy for success has been built on carefully segmenting the market and offering appropriately customized products. The introduction of the Platinum Card in India is a prestigious addition to American Express’ powerful card portfolio in India: the Gold and Green Charge Cards, Gold and Green Credit Cards, the Corporate Card, the Corporate Purchasing Card, the recently launched Gold Corporate Card; and cobranded cards with Indian Airlines, MTNL, J&K Bank, India Today Group, ICWAI and the Indian Medical Association.

American Express Travel Related Services Present in India since 1921, American Express provides high quality travel related services to individuals and corporations in India. American Express Card products available in India include the Green and Gold Charge Cards, Green and Gold Credit Cards, the Corporate Card, and the recently launched expense management solution, the Corporate Purchasing Card.American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.

Details

bCard Downsizes

PrimeHoldings.com’s bCard subsidiary has lowered the company’s operating cost structure by reducing headcount and payroll expenses by 30%. bCard has also consolidated its North American operations by moving key personnel from the Toronto office to the Salt Lake City office, which serves as both bCard’s corporate headquarters and operation center. bCard will maintain a Canadian marketing presence with its office in Ottawa, Ontario. bCard manages digital identification networks that allow trade show exhibitors to collect data from attendees via handheld, PC-based smart card readers.

Details

TD 3Q/01

TD Bank Financial Group announced results
for the third quarter of fiscal 2001, reporting an operating cash basis net
income of $522 million or $0.80 per common share. This compares to an
operating cash basis net income of $511 million or $0.80 per common share in
the same quarter last year.

“A successful performance by TD Canada Trust and very solid earnings by
TD Securities were strong contributors to our overall performance,” said TD
Chairman and Chief Executive Officer, A. Charles Baillie. “Although this was a
flat quarter overall, we’re especially pleased with these results in the
context of the challenging markets that have affected many of our businesses,
particularly TD Waterhouse. With the acquisition of Canada Trust 18 months
ago, we now have retail and wholesale businesses which give us balanced and
sustainable growth.”

“We continue to focus on our strategic imperatives — achieving scale,
maintaining momentum, being where banking is going and engaging in activities
that are at least North American in scope — which we believe are critical to
our ability to deliver consistent shareholder returns,” he added.

——————–

(1) Operating cash earnings referenced in this news release exclude
restructuring costs (TD Waterhouse in the third quarter 2001, Newcrest in
the first quarter 2001, and Canada Trust in the second quarter 2000), the
effects of future tax rate reductions on future tax balances in the first
and the third quarter 2001 and the net effect of real estate gains and
general allowance increases in the first and second quarter 2001.
Operating results are presented on this basis in order to provide a
meaningful year-over-year comparison. These results also exclude the
after tax impact of goodwill and other purchase-related intangible
amortization. The Third Quarter Report to Shareholders, which will be
posted on our website, www.td.com , after September 20, 2001, consists of
both operating cash earnings and earnings that include all these items.

Business Segment Highlights

“Building on its strong performance of past quarters, TD Canada Trust
delivered solid results, with continued growth in mortgage volumes as well as
in chequing and savings account balances. Despite the major integration effort
in the quarter, TD Canada Trust contributed $275 million to the Bank’s cash
earnings this quarter, and we are meeting the targets set out in our merger
business plan,” said Baillie.
“TD Securities delivered strong earnings and return on equity,” noted
Baillie. There was positive performance in derivatives, foreign exchange,
fixed income and our public equity portfolio, as well as market share gains in
corporate debt and equity underwritings, mergers and acquisitions and
institutional equities. Increased provisions for credit losses and writedowns
in our private equity portfolio resulted in an overall minor decrease in net
income over last quarter, but ahead of last year. “With the diversity in its
businesses, TD Securities is well positioned to manage the current weaker
market conditions,” he added.

TD Wealth Management saw assets under management grow to $117.4 billion
in the quarter, despite flat markets. New institutional mandates and assets
added $1.3 billion to the total, demonstrating competitive strength in TD
Quantitative Capital. “We view this growth in our institutional business,
given the current environment, as a sign of our strength,” added Baillie.
TD Waterhouse continued its sharp focus on bringing its margins back to
more normal levels. During the quarter, the self-directed brokerage announced
a strategic business restructuring to improve its ability to face challenges
in the industry’s operating environment and to better position it for long-
term growth. As part of this restructuring, TD Waterhouse will decrease its
total workforce by 9% (approximately 600 employees) bringing it to less than
6,200 positions and close call centres in Chicago and in Bradford, United
Kingdom and 17 branches in the U.S. These measures are expected to generate TD
Waterhouse annual pre-tax savings of more than US$40 million, beginning in the
fourth fiscal quarter, and a pre-tax charge of approximately US$35 million in
the third quarter related to employee separation, facilities and other costs.
“We believe that this recently announced restructuring along with Project
200, the previously announced plan to reduce costs and increase revenues, will
help bolster earnings that have continued to decrease as a result of
substantial declines in North American equity markets which have in turn
reduced trading activity and margin lending,” indicated Baillie.
Also during the quarter, TD announced an increase to its provision for
credit losses, for a full-year provision of $620 million, excluding increased
general allowances of $300 million recorded during the first half of the year.
TD recognized a charge of $190 million in the third quarter, with the
remaining $190 million to be charged in the fourth fiscal quarter.

Integration of Canada Trust

TD achieved a major milestone in its integration with Canada Trust just
after quarter-end: the successful completion of the retail branch conversion,
which included moving customers to one common computer platform and a unified
array of products. All points of interaction with our customers in branches,
at ABMs, over the telephone or on the Internet are now operating in a
consistent manner under the TD Canada Trust banner.

“The integration has proceeded on track, and we are meeting the targets
set out in our merger business plan,” said W. Edmund Clark, President and
Chief Operating Officer of TD Bank Financial Group. “This is an exceptional
achievement, and our employees deserve to be acknowledged for their unfailing
support and impressive efforts that delivered these results. We continue to
realize integration savings and our customer service results, as measured by
our Customer Satisfaction Index, are tracking to expected levels,” he added.

Other Achievements

“A continued focus on corporate priorities resulted in several successes
for TD’s businesses for the quarter,” said Baillie, including:

– TD Securities led the successful $604 million secondary sale by
Quebecor Inc. of Abitibi-Consolidated Inc. shares, and advised British
Energy in its $3.2 billion lease transaction for Ontario Power
Generation’s nuclear plants. TD Securities also led a $650 million
equity offering for Triax Inc., structured for the retail investing
market, and completed a series of landmark cross-border offerings for
Telus Corporation with total proceeds of $6.7 billion, the largest
corporate financing ever completed for a Canadian issuer.

– TD Waterhouse Group, Inc. announced its intent to form a joint venture
with Singapore’s DBS Group Holdings Ltd., the largest banking group in
Southeast Asia, to provide self-directed investors access to a broad
range of global investment services through the Internet, call
centres, kiosks and other distribution channels. Initially, the joint
venture will serve customers in Hong Kong and Singapore with plans to
expand into other Asian markets. Hong Kong will be the hub for North
Asia and Singapore for Southeast Asia and both companies will transfer
their current Asian online trading accounts to the joint venture.

– TD Waterhouse recently announced the acquisition of R.J. Thompson
Holdings, Inc., subject to regulatory approval. The acquisition not
only instantly increases TD Waterhouse’s active trader customer base,
it also allows the firm to acquire a technology platform that will
form the basis of one of the industry’s most robust offerings for
active traders.

– TD Waterhouse successfully launched a U.K. fund supermarket, and
entered the U.K. retail market with six of its own funds, managed by
TD Asset Management Inc. In total, the supermarket provides customers
with access to nearly 400 funds via telephone and the Internet.

– TD Waterhouse Canada launched an online fixed income centre that
provides customers with access to more than 1,000 fixed income and
money market products — more than any other Canadian self-directed
broker.

– TD Capital’s Canadian Private Equity Partners Fund purchased 100% of
the shares of Harrowston Inc., a Canadian public merchant bank that
has a number of high quality international businesses with excellent
growth prospects.

– Continuing its online leadership, a Canadian Financial Monitor study
released this quarter found that TD Canada Trust led its competitors
with the highest penetration of its customer base using electronic
banking.

Economic Outlook

“With no indication of an end to the economic slowdown, it appears now
that growth will not pick up in North America until very late in 2001 or early
in 2002,” said Baillie. “Both the Federal Reserve and the Bank of Canada —
but especially the Federal Reserve — may add to the aggressive monetary
easing with additional interest rate cuts in the fall of 2001. The Canadian
economy will likely continue to outperform that of the United States, but a
longer than expected U.S. slowdown would have a greater effect on Canada’s
economic performance,” noted Baillie.

REVIEW OF OPERATING PERFORMANCE

Operating cash basis(1) net income for the quarter was $522 million, an
increase of $11 million from the same quarter last year. Operating cash basis
earnings per share were $.80 this quarter, the same level as a year ago.
Operating cash basis return on total common equity was 17.1% for the quarter
as compared to 18.1% last year.

Net Interest Income

Net interest income on a taxable equivalent basis was $1,147 million this
quarter, a year-over-year increase of $188 million or 20%. This increase was
partly attributable to an increased level of trading securities and trading-
related income recorded by TD Securities. Also contributing to the growth in
net interest income was TD Canada Trust, as personal loan volumes — excluding
securitizations — increased by approximately $4 billion from a year ago and
the TD Canada Trust margin improved by 16 basis points to 3.38%. Offsetting
the increase in net interest income in TD Securities and TD Canada Trust was a
decline in TD Waterhouse. Net interest income reported by TD Waterhouse —
primarily related to margin loan balances — declined by $47 million due to
significantly lower average loan volumes this quarter compared to a year ago.

Credit Quality and Provision for Credit Losses

The estimate for the 2001 full-year provision for credit losses is $620
million, excluding an increase of $300 million in the general allowance
recorded earlier in the year. The estimate is $140 million higher than the
Bank’s estimate established in the first quarter and reflects the current
corporate credit quality environment. In the third quarter, $190 million of
the full-year estimate was expensed through provision for credit losses,
reflecting half of the increase in the full-year estimate, versus $120 million
in the first two quarters. The allowance for credit losses exceeded gross
impaired loans by $218 million at the end of the quarter, compared to a $159
million excess at year end.

The Bank’s total accumulated general allowance for credit losses amounted
to $1,169 million at July 31, 2001, up from $862 million at year end. General
allowances are maintained at a level adequate to absorb all credit-related
losses not yet identified in our portfolio relating to both loans and off-
balance sheet instruments and qualify as Tier 2 capital — to an amount equal
to 75 basis points of risk-weighted assets — under guidelines issued by the
Office of the Superintendent of Financial Institutions.

Other Income

Other income was $1,534 million for the quarter, a decrease of $98
million or 6% from the same quarter last year. The decline in other income
reflects a year-over-year decrease in self-directed brokerage revenues from TD
Waterhouse of $96 million or 30%, due to a drop in average trades per day from
157,000 to 102,000.

TD Securities continued to perform well, particularly in consideration of
the current capital markets environment. Underwriting fees more than tripled
to reach $64 million as compared to $19 million in the same quarter last year.
This increase reflected additional income from bond and equity underwriting
activities. Trading related income — which is the total of trading income
reported in other income and the net interest income on trading positions
reported in net interest income — more than doubled to reach $432 million as
compared to $206 million a year ago. The increase in underwriting and trading
revenues was offset by a decrease in net investment securities gains of $89
million or 77% and a decrease in corporate credit fees of $45 million or 49%
as compared to a year ago. The market value surplus over book value of our
equity investment securities portfolio was $577 million at the end of the
fiscal quarter, compared to $736 million at October 31, 2000.
Retail banking also reported strong year-over-year growth in other
income. Insurance revenues, service fees, card services and retail credit fees
increased by $68 million or 24% as compared to the third quarter last year.

——————–
(1) Operating cash earnings referenced in this news release exclude
restructuring costs (TD Waterhouse in the third quarter 2001, Newcrest in
the first quarter 2001 and Canada Trust in the second quarter 2000), the
effects of future tax rate reductions on future tax balances in the first
and the third quarter 2001 and the net effect of real estate gains and
general allowance increases in the first and the second quarter 2001.
Operating results are presented on this basis in order to provide a
meaningful year-over-year comparison. These results also exclude the
after tax impact of goodwill and other purchase-related intangible
amortization.

Non-Interest Expenses

Total cash expenses (excluding ongoing non-cash goodwill and intangible
amortization and a one-time pre-tax restructuring charge of $54 million
related to TD Waterhouse) increased by $103 million or 6% from a year ago to
$1,726 million. Increased integration expenses at TD Canada Trust and growth
at TD Securities contributed 8% to the overall growth in expenses. This
increase was offset by lower operating expenses at TD Waterhouse resulting
from reduced investment and trading activity among investors. During the
quarter, TD Waterhouse announced a strategic business restructuring of its
operations and consequently recorded a pre-tax restructuring cost of $54
million, primarily relating to severance and premises.

The expense growth exceeded total revenue growth and as a result, the
Bank’s overall efficiency ratio, on an operating cash basis, weakened to 64.4%
from 62.6% a year ago. The Bank’s consolidated efficiency ratio is impacted by
shifts in our business mix. The efficiency ratio is viewed as a more relevant
measure for TD Canada Trust, which achieved an efficiency ratio of 61%
compared to 60% a year ago, after excluding non-cash items and funding costs
for the acquisition of Canada Trust. This weakening of the efficiency ratio
reflected increased expenses relating to the integration of our branch
network.

Balance Sheet

Total assets were $296 billion at the end of the third quarter, $31
billion or 12% higher than at year end. The majority of this increase, $17
billion, reflects higher volumes of trading securities attributable to TD
Securities. Personal loans, including securitizations, declined by $3 billion.
This decrease is attributable to the drop in TD Waterhouse margin loans of $5
billion but is somewhat offset by the strong performance in the personal loan
portfolio at TD Canada Trust which increased by $2.2 billion as compared to
October 31, 2000. Residential mortgages, including securitizations, increased
by $2.8 billion or 5% from year end.

Personal non-term deposits grew by $4.1 billion as compared to October
31, 2000, with TD Waterhouse accounting for $1.7 billion of this increase.
Personal term deposits decreased by $1.3 billion, while wholesale deposits and
securities sold short and under repurchase agreements increased by $29 billion
in order to fund the increased level of trading activities.

Capital

As at July 31, 2001, our Tier 1 capital ratio increased to 7.9% from 7.2%
at October 31, 2000. Risk-weighted assets grew by only $28 million, whereas
our Tier 1 capital increased by $901 million as compared to October 31, 2000,
thereby significantly improving our Tier 1 capital ratio.

Details

Sky Postilion

Mosaic Software and Bowling Green, OH-based Sky Financial Group, announced that Mosaic’s industry- leading Postilion software product has been chosen to provide ATM driving, as well as transaction switching and routing for Sky Financial’s multi-state network of ATMs.

Sky Financial, known for its community-based relationship banking strategy and unsurpassed client service, is committed to delivering the highest quality products and services to every community it serves. The installation of Postilion to handle all aspects of ATM transaction processing and management in these locations will assure the maximum availability of ATM services for their customers. In addition, Mosaic’s Postilion system provides Sky with a highly reliable, scalable and open architecture that permits easy implementation of possible new products to be delivered through the ATMs, other terminals and mobile devices. Sky’s Postilion system will have an interface to their Fiserv CBS host software application for on-us and us-on- others transaction processing and will route foreign transactions directly to the Concord EFS network. Detailed reporting as well as network settlement and reconciliation will be handled by the Postilion Office component of the system.

“Our selection of technology leader, Mosaic Software, was a better solution for our company,” stated Tom Leek, Chief Executive Officer of Sky Technology Resources, Sky Financial’s technology affiliate. “This new system and change in processing method allows us to provide a higher level of client service while in turn reducing our overall cost,” said Leek.

“We are happy to have the opportunity to work with the members of the Sky Financial Group and are proud that Postilion was selected to be at the heart of their ATM network. We look forward to being involved with such a dynamic organization and to being instrumental in supporting their continued network growth,” said Johann Dreyer, executive chairman of Mosaic Software.

About Mosaic Software

Mosaic Software is a leading-edge provider of electronic funds transfer (EFT) software for consumer-generated electronic transactions, and is the market leader for web-enabled ATM and prepay software solutions. The company is held by strategic partners GE Equity and Comparex Holdings, and Mosaic management. With offices in the USA, a European office in the UK, South Africa and Australia, Mosaic has a strong global presence. The company is firmly established in the financial services industry and its EFT solutions drive operations in a large number of multinational companies and industry leaders around the globe. Clients include financial institutions, retailers, Internet service providers, card issuers, telcos, data processing service providers and some of the foremost players in the emerging online industry, in the USA, Latin America and the Caribbean, Europe, Australia, the Middle East, Africa and the Asia-Pacific region.

Mosaic’s family of products, named Postilion, is a comprehensive software solution designed to effectively handle the transaction delivery and authorization requirements of every aspect of the EFT arena. Worldwide, Postilion is used for ATM Processing/Monitoring, EFT Switching and Routing, Point-of-Sale (POS), Credit/Debit Card Processing, Internet/Call Center Payment Authorizations, Prepayment, Internet/Home Banking and Mobile Commerce applications. Operating as the first fully fledged EFT switch running on Windows NT/Windows 2000, Postilion is live in more than 500 installations worldwide.

Mosaic Software clients include 7-Eleven (US), American Express (US), E*Trade (US), Retail Decisions (UK), Calypso (Canada), Transaction Network Services (UK), InnoVentry (US), Echo (US), Pick ‘n Pay (SA), ABSA Bank (SA), Saambou Bank (SA), NBS (SA), Vodacom SA) and MTN (SA).

An overview of the company and product may be found at: .

About Sky Financial Group

Sky Financial Group, Inc. is a diversified financial services holding company headquartered in Bowling Green, Ohio. Sky operates 205 financial centers and over 200 ATMs serving communities in Ohio, Michigan, Pennsylvania, Indiana and West Virginia. The company’s related financial services affiliates include Sky Trust, Sky Financial Solutions, Sky Access, Picton Cavanaugh and Meyer & Eckenrode Insurance Group. Sky is located on the World Wide Web at .

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