Student-Bankers Will Help Provide Peers with Practical Money Management Skills

NEW YORK--(BUSINESS WIRE)--Oct. 15, 2007--Capital One Financial Corporation (NYSE:COF) subsidiary, North Fork Bank, today announced it will open a bank branch staffed with high school seniors. The student-run branch of North Fork Bank, opening at the Bronx-based Fordham Leadership Academy's Theodore Roosevelt Complex, is the first of its kind in the area.

Seniors from Fordham Leadership Academy will run and operate the branch under the supervision of North Fork Bank management. The student bankers are participants in the Fordham Leadership Academy's Virtual Enterprise Program - a business simulation program between the school and the business community. In its second year, the program provides an opportunity for select students to work with North Fork Bank to connect practical knowledge and skills learned in the Virtual Enterprise classroom with structured work outside the classroom. In a recent survey, Capital One found that 52 percent of teens are eager to learn about money management, yet more than 85 percent have never taken a personal finance class in school. The Virtual Enterprise program and North Fork Bank's efforts in cooperation with the Fordham Leadership Academy are helping to bridge that gap and provide student-bankers with the opportunity to share what they've learned with their peers.

"We are as excited about the opening of this branch as the students are. Our goal is to help teach students the basics of money management and bring the value of mainstream banking to life by giving each student a solid foundation on which to make financial decisions for their future," said Carolyn Drexel, Executive Vice President of Branch and Private Banking at Capital One. "The school-based branch is a unique learning opportunity for the students that are working in the bank and all the students at the Theodore Roosevelt Campus who will now have access to basic banking services. With a working bank on site, they can learn more about basic money management skills including budgeting and saving."

"This partnership is a true investment in the future of our students," New York City Schools Chancellor Joel Klein said. "Student tellers get hands-on experience that will help them in college and in the workforce, while the entire student community has a unique opportunity to better learn how to manage and budget their hard-earned money and plan for the years ahead."

The overall goals of the partnership between North Fork Bank and the Fordham Leadership Academy include:

    --  Providing critical life-skills training for students

    --  Promoting sound money management skills

    --  Connecting students to industry professionals for mentoring
        opportunities

    --  Developing career awareness and readiness

    --  Promoting banking to underserved neighborhoods

The Fordham Leadership Academy Branch of North Fork Banks is open to students, faculty and administrators. It will focus primarily on savings products and will operate three days a week for limited daytime hours.

About Capital One

Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a financial holding company, with 725 locations in New York, New Jersey, Connecticut, Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One Auto Finance, Inc., and Capital One, N.A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One's subsidiaries collectively had $85.7 billion in deposits and $144.2 billion in managed loans outstanding as of June 30, 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
Lahne Mattas-Curry, 703-720-2358
lahne.mattas-curry@capitalone.com

SOURCE: Capital One Financial Corporation