Capital One Announces Public Offering of 56 Million Shares of Common Stock

MCLEAN, Va., May 11 /PRNewswire-FirstCall/ -- Capital One Financial
Corporation (NYSE: COF) today announced a registered underwritten public
offering of 56 million shares of its common stock. Capital One will grant the
underwriters a 30-day option to purchase up to 8.4 million additional shares
of common stock. Net proceeds of the offering are expected to be used for
general corporate purposes and, subject to regulatory approval, for the
repurchase of the Preferred Stock and Warrants issued and sold, in each case,
to the U.S. Treasury as part of the Troubled Asset Relief Program Capital
Purchase Program.

Barclays Capital Inc. is acting as sole book-runner and manager of the
offering. The offering will be made only by means of a preliminary prospectus
supplement and accompanying base prospectus, copies of which may be obtained
from: Barclays Capital Inc., c/o Broadridge Integrated Distribution Services,
1155 Long Island Avenue, Edgewood, New York, 11717;
barclaysprospectus@broadridge.com (phone 888-603-5847). A copy of the
preliminary prospectus may also be obtained at no charge at the Securities and
Exchange Commission's website, at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding
company whose subsidiaries, which include Capital One N.A., Capital One Bank
(USA), N.A., and Chevy Chase Bank, F.S.B., collectively had $121 billion in
deposits and $150 billion in managed loans outstanding as of March 31, 2009.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum of
financial products and services to consumers, small businesses and commercial
clients. Capital One, N.A. and Chevy Chase Bank, F.S.B. have approximately
1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana,
Maryland, Virginia, and the District of Columbia. 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.

SOURCE Capital One Financial Corporation

Investor Relations: Jeff Norris, +1-703-720-2455 or Danielle Dietz,
+1-703-720-2455; Media Relations: Tatiana Stead, +1-703-720-2352 or Julie
Rakes, +1-804-284-5800, all for Capital One Financial Corporation