FALLS CHURCH, Va., May 17 /PRNewswire/ -- Joined by Virginia Senator R. Edward Houck, Capital One Services, Inc. cut the ribbon on its second building in the Fredericksburg area. The new building in Spotsylvania County, which measures 157,000 square feet, took only seven months to build. It has capacity to seat approximately 1,200 associates, doubling the potential number of jobs at the site. Hiring for the new site is ongoing (interested applicants are encouraged to call 1-800-77-HIRE-1 for more information).

Judy Pahren, Capital One's Fredericksburg Site Director, said, "The caliber of associates we have been able to hire in Fredericksburg has far exceeded our expectations. It was an easy decision for Capital One to decide to expand right here-it is a place that has been very good to us because of the quality workforce, a great location, the local government's enthusiasm to assist our growth, and a fantastic community."

To show further commitment to the Fredericksburg area, Capital One made two community grants. The first presentation was a gift of $100,000 to the Capital One Fredericksburg Area Foodbank Kids Cafe. This donation triples Capital One's investment in the innovative Kids Cafe, where children from low- income homes receive nutritious meals and after-school help.

The second donation is a $100,000, four-year commitment to the Fredericksburg Regional Alliance and is earmarked for workforce development to support future growth and stability of the region's workforce.

"This project is very important to Spotsylvania County and to the entire Fredericksburg region," said Senator Houck. "Not only does this expand Capital One's presence in the community and bring quality jobs, but it strengthens the local economy. The expansion of Capital One's presence in Lee's Hill helps to establish this area as an important business development location midway between Washington, D.C. and Richmond."

Fredericksburg associates service the Company's 25.3 million customers in a Customer Relations call center. Capital One employs more than 16,000 associates worldwide with operations in Virginia, Texas, Florida, Washington State and Idaho, as well as London and Nottingham, in the United Kingdom. For the past two years, Capital One ranked on the "Best Places to Work" listing, as reported by Fortune.

Headquartered in Falls Church, Virginia, Capital One Financial Corporation (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 25.3 million accounts and $20.3 billion in managed loans outstanding as of March 31, 2000. Capital One is one of the major financial service providers on the Internet, with on-line account decisioning, real-time account numbering, on-line retail deposits and a growing number of customers serviced on-line. Capital One is a FORTUNE 500 company that trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 index. Capital One was also ranked by Business Week as one of the Top 50 Best Performers of the Standard & Poor's 500 companies index from March 1, 1999 to March 1, 2000 (March 27 issue). SOURCE Capital One Financial Corporation

CONTACT: Hamilton Holloway of Capital One Financial Corporation, 804-934-5900 or Hamilton.Holloway@CapitalOne.com/