Treasury Commenced Secondary Offering of TCF Financial (TCB) Warrants

The U.S. Department of the Treasury commenced a secondary public offering of approximately 3,199,988 warrants to purchase the common stock of TCF Financial Corporation (NYSE: TCB). The proceeds of this sale will provide an additional return to the American taxpayer from Treasury's investment in the Company beyond the dividend payments it received on the related preferred stock. The offering is expected to price through a modified Dutch auction. Deutsche Bank Securities Inc. is the sole book-running manager for the offering.

Deutsche Bank Securities Inc., in its capacity as auction agent, has specified that the auction will commence at 8 a.m., Eastern Time, on December 15, 2009, and will close at 6:30 p.m., Eastern Time, on that same day. During the auction period, potential bidders will be able to place bids at any price (in increments of $0.05) at or above the minimum bid price of $1.50 per warrant.

The auction procedures, and the strike price, expiration, and other terms of the warrants are described in the preliminary prospectus supplement referenced below.