MCLEAN, Va.--(BUSINESS WIRE)--June 19, 2007--Capital One Financial
Corporation (NYSE: COF) announced today that it will redeem in full
the Coastal Capital Trust I 2,000,000 9% Cumulative Trust Preferred
Securities, CUSIP 190428201, (the "TPS"). The redemption will occur on
June 30, 2007 (the "Redemption Date"). The redemption price will be
$25 for each unit, plus accrued and unpaid interest (the "Redemption
Price"). On June 30, the Redemption Price will become due and payable,
and interest on the securities will no longer accrue. Payment of the
Redemption Price for the TPS will be made upon presentation and
surrender of the TPS to The Bank of New York.
About Capital One
Headquartered in McLean, Virginia, Capital One Financial
Corporation (www.capitalone.com) is a financial holding company, with
more than 720 locations in New York, New Jersey, Connecticut, Texas
and Louisiana. Its principal subsidiaries, Capital One Bank, Capital
One, F.S.B., Capital One Auto Finance, Inc., Capital One, N.A., and
North Fork Bank offer a broad spectrum of financial products and
services to consumers, small businesses and commercial clients.
Capital One's subsidiaries collectively had $87.7 billion in deposits
and $142.0 billion in managed loans outstanding as of March 31, 2007.
Capital One, a Fortune 500 company, trades on the New York Stock
Exchange under the symbol "COF" and is included in the S&P 100 index.
CONTACT: Capital One Financial Corporation
Jeff Norris, 703-720-2455
Julie Rakes, 804-284-5800
SOURCE: Capital One Financial Corporation