FALLS CHURCH, Va., Oct. 11 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced it has been recognized as one of the most innovative users of information technology by InformationWeek magazine for the fourth year in a row and by Darwin magazine in the debut of its "Fittest 50."

"These awards recognize Capital One's leadership position in applying technology to marketing financial services," said Nigel Morris, President and COO. "It's a testament to Capital One's entrepreneurial culture, created to foster continuous innovation by our 20,000 associates."

The 13th annual InformationWeek 500 lists the most innovative users of information technology -- companies that are considered masters in combining information technology and business savvy to build profitable and successful customer relationships. InformationWeek ranks companies on both the size and complexity of installed information technologies, as well as on the tangible business benefits created by technology.

Darwin's Fittest 50 are chosen based on their ability to use IT to adapt, survive and thrive in a changing economy. Nominations by a panel of 15 experts, including academics and business consultants, as well as Darwin editorial staff, were narrowed down to the top 50 after extensive research by Darwin editorial staff.

"Capital One's IT work is driven by our desire to deliver superior products, services and value for our 38 million customers," said Marge Connelly, Executive VP, Domestic Card Operations and IT Operations. "This makes the Information Week and Darwin recognitions even more gratifying."

Laura Olle, Senior VP Systems Development and Senior Business Information Officer, said: "Capital One's culture of a true partnership between IT and the business means we have the in-house expertise to pull together in a spirit of collaboration and pursuit of a common goal."

Capital One was recently recognized by another measure of information technology innovation -- CIO 100, CIO magazine's yearly list of the top 100 most innovative companies in the world.

Headquartered in Falls Church, Virginia, Capital One Financial Corporation (http://www.CapitalOne.com ) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One's subsidiaries collectively had 38.1 million customers and $35.3 billion in managed loans outstanding as of June 30, 2001. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 index.

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SOURCE Capital One Financial Corporation

CONTACT: Mark Andrews of Capital One Financial Corporation, +1-804-934-5910, or mark.andrews@capitalone.com/