Capital One Bank Celebrates Grand Opening of Third Harlem Branch

New Branch in the Harlem Community provides a full range of
business and consumer banking services to local residents
NEW YORK--(Business Wire)--
Capital One Bank announced the opening of its third branch in the
Harlem community. The new branch, located at 1999 First Avenue, offers
local residents a broad range of financial services and personal
account features.

"Harlem is an important part of New York's cultural landscape, and
Capital One Bank is proud to be involved in the revitalization of this
historic neighborhood," said Lynn Pike, President, Capital One Bank.
"Through our three bank branches in Harlem, we are committed to
providing the best banking experience possible to our customers by
bringing community-focused banking to the neighborhood and providing a
broad range of financial services to local residents."

Joined by local community leaders, Capital One officially marked
the grand opening of the Branch with a community Open House.

"Today, we are investing in the economic vitality of East Harlem,"
New York State Comptroller Thomas P. DiNapoli said. "Our deposit will
provide the bank with a greater base to spark neighborhood economic
growth, by making loans to neighborhood residents and small
businesses. In return, the state gets a fair rate of return on its
money and residents have greater access to lower-cost financial
services. This innovative program is a win-win-win for the community,
the state and the bank."

"We are very proud of the Banking Development District program and
are happy to partner with banks such as Capital One on opening
branches in neighborhoods that have unbanked residents," said Richard
H. Neiman, Superintendent of Banks for New York. "These combined
efforts result in much needed banking services that foster local
economic growth and help communities become part of the financial
mainstream."

"The addition of a bank to a community currently undergoing
revitalization is a key step in the financial success and business
growth of its residents. This new branch signifies the bright fiscal
future of East Harlem and will provide an avenue of financial
stimulation for the local economy," NYC Comptroller William C.
Thompson Jr. said. "Through the work of the BDD Program we are
providing New Yorkers who do not have banking relationships an
opportunity to become part of the financial mainstream. It's a win-win
situation."

Senator Bill Perkins (D-Manhattan) said, "The Banking Development
District program is a great example of the government and the banking
industry partnering together to reach into traditionally underserved
communities. I am excited Capital One Bank is the newest tenant to our
vibrant neighborhood."

Capital One Bank branches in Harlem are located at:

-- 1999 First Avenue

-- 2310 Frederick Douglas Boulevard

-- 700 St. Nicholas Avenue

Capital One Engaged in the Harlem Community

Capital One Bank is committed to working with local residents,
government, and community organizations to enhance access to capital
for local businesses, promote long-term economic development, foster
job-creation and promote community revitalization in Harlem.

To help address community banking needs, Capital One Bank applied
for and received designation as a Banking Development District for the
eastern section of East Harlem. Recognizing that financial literacy is
critical to overcoming the barriers to establishing access to
mainstream banking, Capital One Bank, in partnership with the
Coalition for Debtor Education, provides financial education classes
and seminars in both English and Spanish to New York City Housing
Authority residents in East Harlem, the largest concentration of
housing projects in the United States.

"Capital One is fortunate to be a part of building vibrant
communities where people can live well, work and raise their
families," said Carolyn Drexel, Executive Vice President of Capital
One Bank. "We are part of the Harlem community, working with our
neighbors to help make a difference through financial education, the
development of affordable housing, support of small businesses and the
time of our skilled-associate volunteers."

"Providing bilingual financial education services in Harlem helps
to meet the current and growing needs of people in this community,"
added Drexel. "Capital One Bank customers will be met by knowledgeable
banking professionals who will help them understand our products and
services so that they can make the right choices about banking and
managing their money."

Capital One provides support to a number of Harlem organizations.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a
financial holding company whose subsidiaries collectively had $83.0
billion in deposits and $151.4 billion in managed loans outstanding as
of December 31, 2007. Headquartered in McLean, VA, Capital One has 742
locations in New York, New Jersey, Connecticut, Texas and Louisiana.
It is a diversified financial services company whose principal
subsidiaries, Capital One, N.A., Capital One Bank (USA), N. A., and
Capital One Auto Finance, Inc., offer a broad spectrum of financial
products and services to consumers, small businesses and commercial
clients. A Fortune 500 company, Capital One trades on the New York
Stock Exchange under the symbol "COF" and is included in the S&P 100
index.

Capital One Financial Corporation
Diana Don, 703-720-2371
diana.don@capitalone.com

Copyright Business Wire 2008