May 25, 2007 -- TD Banknorth Inc. announced today that it is calling for redemption all of the outstanding ($206,185,575 aggregate principal amount) 8% Junior Subordinated Debentures due 2032 of the Company. The redemption of the Debentures will cause the property trustee of Banknorth Capital Trust II (NYSE: BGIPrT) to call for redemption all outstanding ($200,000,000 aggregate liquidation amount) 8.00% Trust Preferred Securities of the Trust. The redemption date will be June 29, 2007. The Trust Preferred Securities called for redemption will be redeemed at a redemption price equal to the $25 liquidation amount for each of the Trust Preferred Securities to be redeemed plus accumulated but unpaid distributions to the redemption date. Notice of redemption is being sent to the registered holder of the Trust Preferred Securities. Copies of the notice of redemption may be obtained from The Bank of New York, the trustee for the Trust, at: Bank of New York, Attn: Bondholder Relations/Redemption Unit, 111 Sanders Creek Parkway, East Syracuse, New York 13057 (telephone: 1-800-254-2826). The Trust Preferred Securities are held only in book-entry form through The Depository Trust Company ("DTC"). DTC will redeem the securities in accordance with its procedures and will notify holders.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Banknorth Capital Trust II, 8% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Banknorth Group Inc. (NNM: BKNG), redeemable at the issuer's option on or after 4/01/2007 at $25 per share plus accrued and unpaid dividends, maturing 4/01/2032, distributions of 8.00% ($2.00) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record one business day prior to the payment date while the securities remain in global security form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8.00% Junior Subordinated Deferrable Interest Debentures due 4/01/2030 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below. Peoples Heritage Financial Group, Inc. (NASDAQ: PHBK) acquired Banknorth effective 5/10/2000 and then assumed the Banknorth name and symbol.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	8.00% $2.00	$25.00 $25.00	Called for 6/29/2007 4/01/2030	A3 BB+ 1/30/2006	1/1, 4/1, 7/1 & 10/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.banknorth.com/
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Email Address	barsenault@banknorth.com
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Address and Phone Numbers

Address:   Two Portland Square, Portland, ME 04112
Main Phone Number	207-761-8500
Fax Number	207-756-6866
Investor Relations   Brian Arsenault	207-761-8517
Toll Free Phone Number	800-462-3666

CEO - William J. Ryan

CFO - Peter J. Verrill