Banking Veteran to Spearhead Sales Operations

NEW YORK--(BUSINESS WIRE)--May 22, 2008--Capital One Financial Corporation (NYSE:COF) announced that Peter A. Appello has joined Capital One Bank as National Sales Director for Small Business.

As the head of the bank's National Sales team, Appello will be responsible for the business banking sales force across the Capital One Bank footprint. Appello will also oversee the management, development and training of bank sales associates and work closely with the Bank's leadership team to set the direction and priorities for sales and other business-related activities. In this role, Appello will report directly to Robert M. Kottler, Capital One's Executive responsible for Small Business Banking.

A 22-year banking veteran, Appello joins Capital One from Bank of America, where he served as the company's New York-based Regional Sales Executive. Appello led a team of more than eighty sales and support associates in the Greater New York Region, including four of the top five sales teams in the Northeast Region. During his more than eight years at Bank of America, Appello also served as Senior Vice President and Market Executive, where he grew both loan and deposit balances more than 100 percent from 2002 to 2006 and achieved double-digit revenue growth annually during the same period. Prior to Bank of America, Appello served in various management and sales positions at Citibank, Fleet and Banc Boston.

Two members of Appello's sales team from Bank of America, Richard Schnapper and Anthony Pica, will also join the Capital One Bank National Sales team. Rich Schnapper, who was with Bank of America for approximately 6 years, will be leading the sales efforts in the metropolitan New York area (Manhattan, Bronx, Westchester and Rockland County), and Pica, who was with Bank of America since 1997, will be responsible for day-to-day management and special projects.

"Peter, Rich and Tony bring tremendous depth and industry expertise to the Capital One Bank team. Their commitment to customer service and enhancing client relationships is directly aligned with our banking vision," said Kottler. "We are well-positioned for continued expansion and growth, and Peter and his team will be a great resource to support and serve our diverse customer base and further strengthen our sales culture."

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $87.7 billion in deposits and $148.0 billion in managed loans outstanding as of March 31, 2008. Headquartered in McLean, Va., Capital One has 745 locations in New York, New Jersey, Connecticut, Texas and Louisiana. It is a diversified bank 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.

CONTACT: Capital One Financial Corporation
Diana Don, 212-580-0161
diana.don@capitalone.com

SOURCE: Capital One Financial Corporation