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Capital One Reports Third Quarter Earnings
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Affirms earnings guidance of approximately $5.00 per share in 2007

MCLEAN, Va., Oct. 18 /PRNewswire-FirstCall/ -- Capital One Financial Corporation (NYSE: COF) today announced a net loss for the third quarter of 2007 of $81.6 million, or $0.21 per share (diluted). Earnings were $2.09 per share (diluted) excluding the loss from discontinued operations of $898.0 million related to the shutdown of GreenPoint Mortgage announced in August 2007. This compares to net income of $587.8 million, or $1.89 per share (diluted), for the third quarter of 2006, and income from continuing operations of $767.6 million, or $1.93 per share (diluted), for the second quarter of 2007. Additionally, the company continues to expect earnings for 2007 of approximately $5.00 per share (diluted).

"Capital One remains focused on driving revenue growth, reducing costs, and effectively deploying capital to generate strong returns for our investors," said Richard D. Fairbank, Capital One's Chairman and Chief Executive Officer. "Our businesses are generating robust revenue margins, even as we continue to take a cautious approach to underwriting and managing credit risk in the current environment."

    Highlights of the quarter:
    -- Announced the shutdown of GreenPoint Mortgage, which is largely
       complete. When the company announced the shutdown, it estimated total
       after-tax charges to be $860 million, whereas the total charges in the
       third quarter of 2007 was $883 million due primarily to increased
       valuation adjustments. The company expects to incur approximately $23
       million of additional after-tax charges associated with GreenPoint
       Mortgage in the fourth quarter of 2007 and into early 2008.
    -- Executed $477.5 million of open market share repurchases in the
       quarter, and completed the $1.5 billion Accelerated Share Repurchase
       program that was launched in April. The company expects to complete the
       $3.0 billion share repurchase program in the fourth quarter with
       additional repurchases of $772.5 million.
    -- Successfully executed $3.8 billion in funding transactions despite
       difficult capital market conditions.
    -- Company-wide cost initiative and bank integration programs remain on
       track.

"Earnings from continuing operations in the third quarter grew 6.4 percent over the second quarter of 2007 driven by increased revenues which more than offset increased credit costs in the quarter," said Gary L. Perlin, Capital One's Chief Financial Officer. "We also realized significant operating leverage. Continued cost discipline and capital management will be two key drivers of future shareholder returns."

    Total Company Results
    -- Total deposits at the end of the third quarter of $83.3 billion were
       down $2.3 billion from the second quarter of 2007 primarily as a result
       of the intended run-off of high cost brokered and public deposits.
    -- Managed loans held for investment from continuing operations increased
       from the previous quarter by $1.3 billion driven largely by the growth
       in Global Financial Services.
    -- Total managed revenue is up 8.0 percent relative to the second quarter
       of 2007 driven largely by revenue margin expansion in our U.S. Card
       sub-segment.  The company expects 2008 revenue growth to be in-line or
       slightly higher than asset growth.
    -- Provision expense was up quarter over quarter and year over year, in
       anticipation of higher charge-offs over the next twelve months,
       primarily in U.S. Card and Auto Finance.  The provision increase
       related to continuing operations of $124.2 million is net of a $91.4
       million release in allowance associated with the integration of bank
       allowance methodologies. Without this methodology change, the allowance
       would have increased $215.6 million due primarily to a build in the
       National Lending segment.
    -- Operating expenses declined $35.2 million relative to the second
       quarter of 2007 driven by continued efficiency gains across the
       businesses. Looking forward, the company expects its operating
       efficiency ratio to be in the mid-forty percent range for the full year
       2008.

    Segment Results
    Local Banking Segment highlights relative to Q2 2007
    -- Net income of $192.3 million was up $47.5 million over the second
       quarter due primarily to a third quarter release in reserves that
       resulted from aligning the Banking segment's allowance methodologies
       with the company's methodology.
    -- Loans held for investment were essentially flat relative to the second
       quarter of 2007 at $42.2 billion. Total Bank deposits declined $1.1
       billion to $73.4 billion.
    -- Credit at the Bank remained strong and stable, with the net charge-off
       rate at 19 basis points and non-performing loans at 27 basis points.
    -- Integration efforts continue to be on track.

    National Lending Segment

Following are highlights from the National Lending Segment, followed by highlights from each of the sub-segments of National Lending: U.S. Card, Global Financial Services (GFS), and Auto Finance. Mortgage Finance information is now included in Discontinued Operations.

    -- Profits for the National Lending segment were up 11.8 percent as
       compared to the third quarter of 2006, driven by increased profits in
       U.S. Card and GFS.
    -- The managed charge-off rate for the National Lending segment increased
       71 basis points to 3.96 percent in the third quarter of 2007 from 3.25
       percent in the third quarter of 2006 due to normalization of credit
       year over year and as a result of a mix shift in U.S. Card and credit
       worsening in Auto Finance. The delinquency rate of 4.70 percent for
       National Lending increased from 3.70 percent as of September 30, 2006.

    U.S. Card highlights relative to Q3 2006
    -- U.S. Card reported net income of $560.8 million, a 21.5 percent
       increase, year over year, driven by growth in revenue and reductions in
       non-interest expenses.
    -- Revenue increased 13.2 percent from the third quarter of 2006 largely
       as a result of pricing changes implemented in some of the company's
       products after completion of the card holder system conversion. This
       increase was partially offset by an increase in provision expense
       resulting from increased credit costs in the quarter and an allowance
       build for expected future credit losses.
    -- Non-interest expenses declined 9.3 percent as the business began to
       leverage its new infrastructure to streamline processes and reduce
       costs as a part of the broader corporate cost initiative.
    -- Managed loans declined from the third quarter of 2006 by 3.0 percent,
       or $1.6 billion to $49.6 billion at September 30, 2007, resulting
       from the continued low levels of marketing of teaser rate offers in the
       prime market and a $600.0 million portfolio sale in the first quarter
       of 2007.
    -- Charge-offs rose in the third quarter of 2007 to 4.13 percent from 3.39
       percent in the third quarter of 2006, and delinquencies rose to 4.46
       percent from 3.53 percent. The increases resulted primarily from
       continued normalization of consumer credit and the mix effects of the
       company's decline in prime revolver loans. Given current loan growth
       and delinquency trends, the company expects the U.S. Card charge-off
       rate to be around 5.25 percent in the fourth quarter.
    -- Delinquencies increased 105 basis points from the sequential quarter
       primarily due to normal seasonality, the company's change to a 25 day
       grace period, changes in the company's pricing and fee policies, and
       mix effects of the decline in prime revolver loan balances.  These
       delinquency trends are consistent with the expected rise in card
       charge-offs in the fourth quarter.

    Global Financial Services (GFS) highlights relative to Q3 2006
    -- Net income rose 10.5 percent from the third quarter of 2006, to $118.4
       million.  Net income growth resulted from strong growth in revenues
       partially offset by higher provision expense.
    -- Managed loans as of September 30, 2007 grew 7.6 percent, to $28.6
       billion relative to September 30, 2006, with growth from North American
       businesses more than offsetting a modest decline in loans in the UK.
       About half of the dollar growth resulted from stronger Canadian and UK
       currencies versus the third quarter of 2006.
    -- Risk metrics were up modestly from the third quarter of 2006 as
       expected normalization continues in the U.S.  Credit in the UK remains
       stable.

    Auto Finance highlights relative to Q3 2006
    -- Auto Finance posted a net loss of $3.8 million in the quarter.  A 5.8
       percent increase in revenues was more than offset by a 51.7 percent
       increase in provision.
    -- Charge-off and delinquencies increases were a result of continued
       consumer credit normalization from historically low levels in the third
       quarter of 2006, continued elevated losses, and delinquencies in recent
       Dealer Prime vintages, and industry-wide increases in loan-to-value
       ratios and extended loan terms in subprime.
    -- Originations in the third quarter of $3.2 billion were up 2.9 percent
       compared to the year ago third quarter.
    -- Managed loans of $24.3 billion as of September 30, 2007 were up 15.0
       percent relative to the third quarter of 2006 from ongoing originations
       as well as the addition of loans from the North Fork portfolio.

The company generates earnings from its managed loan portfolio, which includes both on-balance sheet loans and securitized (off-balance sheet) loans. For this reason, the company believes managed financial measures to be useful to stakeholders. In compliance with Regulation G of the Securities and Exchange Commission, the company is providing a numerical reconciliation of managed financial measures to comparable measures calculated on a reported basis using generally accepted accounting principles (GAAP). Please see the schedule titled "Reconciliation to GAAP Financial Measures" attached to this release for more information.

Forward looking statements

The company cautions that its current expectations in this release, in the presentation slides available on the company's website and in its Form 8-K dated October 18, 2007 for 2007 earnings, loan and deposit growth, revenue growth, return on equity, projected charge-offs for the fourth quarter of 2007 and for 2008, credit trends, dividends, operating efficiencies and ongoing cost reductions, including future financial and operating results, and the company's plans, objectives, expectations, and intentions, are forward-looking statements and actual results could differ materially from current expectations due to a number of factors, including: the risk that the company's acquired businesses will not be integrated successfully and that the cost savings and other synergies from such acquisitions may not be fully realized; continued intense competition from numerous providers of products and services which compete with Capital One's businesses; changes in our aggregate accounts and balances, and the growth rate and composition thereof; the risk that the benefits of the company's restructuring initiative, including cost savings and other benefits, may not be fully realized; the success of the company's marketing efforts; general economic conditions affecting interest rates and consumer income, spending, and savings which may affect consumer bankruptcies, defaults, charge-offs and deposit activity; changes in the labor market; general secondary market conditions in the mortgage industry; changes in the credit environment in the U.S. and or the UK; and the company's ability to execute on its strategic and operational plans. A discussion of these and other factors can be found in Capital One's annual report and other reports filed with the Securities and Exchange Commission, including, but not limited to, Capital One's report on Form 10-K for the fiscal year ended December 31, 2006, and reports on Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007.

About Capital One

Headquartered in McLean, Virginia, Capital One Financial Corporation (http://www.capitalone.com) is a financial holding company, with 732 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 $83.3 billion in deposits and $146.4 billion in managed loans outstanding as of September 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.

NOTE: Third quarter 2007 financial results, SEC Filings, and first quarter earnings conference call slides are accessible on Capital One's home page (http://www.capitalone.com). Choose "Investors" on the bottom of the home page to view and download the earnings press release, slides, and other financial information. Additionally, a webcast of today's 5:00 pm (ET) earnings conference call is accessible through the same link.


                     CAPITAL ONE FINANCIAL CORPORATION (COF)
                         FINANCIAL & STATISTICAL SUMMARY
                                  REPORTED BASIS

    (in millions, except per       2007          2007            2006
    share data and as noted)        Q3            Q2              Q3

    Earnings (Reported Basis)
    Net Interest Income           $1,624.5     $1,538.6 (2)     $1,294.5
    Non-Interest Income            2,149.7      1,971.9          1,761.4
    Total Revenue (5)              3,774.2      3,510.5          3,055.9
    Provision for Loan Losses        595.5        396.7            430.6
    Marketing Expenses               332.7        326.1            368.5
    Restructuring Expenses (4)        19.4         91.1              -
    Operating Expenses             1,582.2 (3)  1,617.4 (3),(12) 1,358.1
    Income Before Taxes            1,244.4      1,079.2            898.7
    Tax Rate (7)                      34.4 %       28.9 %           34.6 %
    Income From Continuing
     Operations, Net of Tax         $816.4       $767.6           $587.8
    (Loss) From Discontinued
     Operations, Net of Tax (1)     (898.0)       (17.2)             -
    Net (Loss) Income               $(81.6)      $750.4           $587.8

    Common Share Statistics
    Basic EPS:
       Income From Continuing
        Operations                   $2.11        $1.96            $1.95
       (Loss) From Discontinued
        Operations                  $(2.32)      $(0.04)           $ -
       Net (Loss) Income            $(0.21)       $1.92            $1.95
    Diluted EPS:
       Income From Continuing
        Operations                   $2.09        $1.93            $1.89
       (Loss) From Discontinued
        Operations                  $(2.30)      $(0.04)           $ -
       Net (Loss) Income            $(0.21)       $1.89            $1.89
    Dividends Per Share              $0.03        $0.03            $0.03
    Tangible Book Value Per
     Share (period end)             $28.88       $29.11           $41.12
    Stock Price Per Share
     (period end)                   $66.43       $78.44           $78.66
    Total Market Capitalization
     (period end)                $25,602.1    $30,701.4        $23,944.1
    Shares Outstanding
     (period end)                    385.4        391.4            304.4
    Shares Used to Compute
     Basic EPS                       386.1        390.8            301.6
    Shares Used to Compute
     Diluted EPS                     390.8        397.5            310.4

    Reported Balance Sheet
     Statistics
     (period average) (7)
    Average Loans Held for
     Investment                    $91,745      $91,145          $62,429
    Average Earning Assets        $117,694     $119,430          $81,437
    Average Assets                $143,291     $142,690          $92,295
    Average Interest Bearing
     Deposits                      $73,555      $75,218          $42,984
    Total Average Deposits         $84,884      $86,719          $47,196
    Average Equity                 $25,344      $25,128          $16,310
    Return on Average Assets
     (ROA)                            2.28 %       2.15 %           2.55 %
    Return on Average Equity
     (ROE)                           12.89 %      12.22 %          14.42 %

    Reported Balance Sheet
     Statistics (period end) (7)
    Loans Held for Investment      $93,789      $90,930          $63,612
    Total Assets                  $143,884     $141,917          $94,907
    Interest Bearing Deposits      $72,503      $74,444          $43,468
    Total Deposits                 $83,343      $85,680          $47,613

    Performance Statistics
     (Reported)(7)
    Net Interest Income Growth
     (annualized)                       22 %        (16)%             33 %
    Non Interest Income Growth
     (annualized)                       36 %         45 %             12 %
    Revenue Growth (annualized)         30 %         16 %             20 %
    Net Interest Margin               5.52 %       5.15 %           6.36 %
    Revenue Margin                   12.83 %      11.76 %          15.01 %
    Risk Adjusted Margin (10)        11.20 %      10.41 %          13.20 %
    Non Interest Expense as a %
     of Average Loans Held for
     Investment (annualized)          8.43 %       8.93 %          11.06 %
    Efficiency Ratio (11)            50.74 %      55.36 %          56.50 %

    Asset Quality Statistics
     (Reported)(7)
    Allowance                       $2,237       $2,113           $1,840
    Allowance as a % of Reported
     Loans Held for Investment        2.39 %       2.32 %           2.89 %
    Net Charge-Offs                   $480         $401             $369
    Net Charge-Off Rate               2.09 %       1.76 % (13)      2.36 %
    Full-time equivalent
     employees (in thousands)         27.5         29.5             21.1



                     CAPITAL ONE FINANCIAL CORPORATION (COF)
                         FINANCIAL & STATISTICAL SUMMARY
                                MANAGED BASIS (*)

                                   2007         2007             2006
    (in millions)                   Q3           Q2               Q3

    Earnings (Managed Basis)
    Net Interest Income          $2,803.4     $2,613.3 (2)     $2,217.8
    Non-Interest Income           1,518.0      1,387.5          1,275.4
    Total Revenue(5)              4,321.4      4,000.8          3,493.2
    Provision for Loan Losses     1,142.7        887.1            867.9
    Marketing Expenses              332.7        326.1            368.5
    Restructuring Expenses (4)       19.4         91.1              -
    Operating Expenses            1,582.2 (3)  1,617.4 (3),(12) 1,358.1
    Income Before Taxes           1,244.4      1,079.1            898.7
    Tax Rate(6)                      34.4 %       28.9 %           34.6 %
    Income From Continuing
     Operations, Net of Tax        $816.4       $767.6           $587.8
    (Loss) From Discontinued
     Operations, Net of Tax (1)    (898.0)       (17.2)             -
    Net (Loss) Income              $(81.6)      $750.4           $587.8

    Managed Balance Sheet
     Statistics
     (period average) (7)
    Average Loans Held for
     Investment                  $143,781     $142,616         $110,512
    Average Earning Assets       $167,578     $168,841         $127,742
    Average Assets               $194,528     $193,446         $139,833
    Return on Average Assets
     (ROA)                           1.68 %       1.59 %           1.68 %

    Managed Balance Sheet
     Statistics (period end) (7)
    Loans Held for Investment(8) $144,769     $143,498         $112,239
    Total Assets                 $194,019     $193,682         $142,977
    Tangible Assets(9)           $180,363     $179,888         $138,817
    Tangible Common Equity(8)     $11,131      $11,393          $12,517
    Tangible Common Equity to
     Tangible Assets Ratio           6.17 %       6.33 %           9.02 %
    % Off-Balance Sheet
     Securitizations                   35 %         37 %             43 %

    Performance Statistics
     (Managed)(7)
    Net Interest Income Growth
     (annualized)                      29 %          2 %             14 %
    Non Interest Income Growth
     (annualized)                      38 %         29 %             25 %
    Revenue Growth (annualized)        32 %         11 %             18 %
    Net Interest Margin              6.69 %       6.19 %           6.94 %
    Revenue Margin                  10.31 %       9.48 %          10.94 %
    Risk Adjusted Margin (10)        7.86 %       7.37 %           8.41 %
    Non Interest Expense as a %
     of Average Loans Held for
     Investment (annualized)         5.38 %       5.71 %           6.25 %
    Efficiency Ratio (11)           44.31 %      48.58 %          49.43 %

    Asset Quality Statistics
     (Managed)(7)
    Net Charge-Offs                $1,027         $891             $806
    Net Charge-Off Rate              2.86 %       2.50 % (13)      2.92 %


    (*) The information in this statistical summary reflects the adjustment to
        add back the effect of securitization transactions qualifying as sales
        under generally accepted accounting principles. See accompanying
        schedule - "Reconciliation to GAAP Financial Measures".



                 CAPITAL ONE FINANCIAL CORPORATION (COF)
                  FINANCIAL & STATISTICAL SUMMARY NOTES

     (1)  On August 20, 2007, the Company announced that it would cease
          residential mortgage origination operations of its wholesale
          mortgage banking unit, GreenPoint Mortgage which was acquired in Q4
          2006. The results of the residential mortgage origination operations
          are being reported as discontinued operations for each period
          presented subsequent to the acquisition. The results of GreenPoint's
          Mortgage Servicing Business are reported as continuing operations
          for each period presented subsequent to the acquisition. The Company
          recorded a loss from discontinued operations of $898.0 million
          after-tax for Q3 2007. Approximately $646.0 million after-tax of
          this loss resulted from the non-cash write-down of goodwill
          associated with the acquisition of GreenPoint Mortgage as part of
          the North Fork Bancorporation in December 2006. The remaining $252.0
          million of after-tax loss includes approximately $177.8 million
          after-tax valuation adjustments related to ongoing operations, $59.0
          million in after-tax restructuring charges associated with severance
          benefits and facilities closure, and $15.2 million in loss from
          operations in the third quarter.

     (2)  Includes a $17.4 million gain from the early extinguishment of Trust
          Preferred Securities in Q2 2007 included as a component of Interest
          expense.

     (3)  Includes core deposit intangible amortization expense of $52.4
          million in Q3 2007 and $53.7 million in Q2 2007, and integration
          costs of $30.3 million in Q3 2007 and $24.5 million in Q2 2007.

     (4)  During the second quarter of 2007, the Company announced a broad-
          based initiative to reduce expenses and improve its competitive cost
          position. As part of this initiative $19.4 million and $91.1 million
          of restructuring charges were recognized as part of continuing
          operations during Q3 2007 and Q2 2007, respectively.

     (5)  In accordance with the Company's finance charge and fee revenue
          recognition policy, the amounts billed to customers but not
          recognized as revenue were as follows: Q3 2007 - $310.5 million,
          Q2 2007 - $236.3 million, and Q3 2006 - $226.3 million.

     (6)  Includes a $69.0 million benefit in Q2 2007 resulting from changes
          in the Company's international tax position and tax benefits from
          resolution of tax issues and miscellaneous tax adjustments in prior
          periods as follows: Q1 2007 - $11.7 million, Q4 2006 - $28.8 million
          and Q3 2006 - $18.7 million.

     (7)  Based on continuing operations. Average equity and return on equity
          are based on the Company's stockholder's equity.

     (8)  Includes stockholders' equity and preferred interests less
          intangible assets and related deferred tax liability.  Tangible
          Common Equity on a reported and managed basis is the same.

     (9)  Tangible assets include managed assets less intangible assets.

     (10) Risk adjusted margin is total revenue less net charge-offs as a
          percentage of average earning assets.

     (11) Efficiency ratio is Non-interest expense less restructuring expense
          divided by total revenue.

     (12) Includes a charge of $39.8 million as a result of the accelerated
          vesting of equity awards made in connection with the transition of
          the management team for Capital One's Banking business following the
          North Fork acquisition in Q4 2006.

     (13) Managed and reported net charge-off rate for Q2 2007 was positively
          impacted 11 and 17 basis points, respectively, due to the
          implementation of a change in customer statement generation from 30
          to 25 days grace. The change did not have a material impact on Net
          Provision for Q2 2007.



                     CAPITAL ONE FINANCIAL CORPORATION (COF)
          SEGMENT FINANCIAL & STATISTICAL SUMMARY FOR CONTINUING OPERATIONS
                                MANAGED BASIS (1)

                                      2007          2007             2006
    (in thousands)                     Q3            Q2               Q3

    Local Banking:
      Interest Income               $1,746,683    $1,724,239         $719,207
      Interest Expense               1,161,758     1,139,774          461,009
      Net interest income             $584,925      $584,465         $258,198
      Non-interest income              195,204       210,581          115,526
      Provision for loan losses        (58,285)       23,929            5,495
      Other non-interest expenses      543,390       548,462          297,080
      Income tax provision             102,693        77,821           24,902
      Net income                      $192,331      $144,834          $46,247

      Loans Held for Investment    $42,233,665   $41,919,645      $13,326,088
      Average Loans Held for
       Investment                  $41,992,618   $42,110,537      $13,171,414
      Core Deposits (2)            $63,118,580   $63,828,306      $26,997,345
      Total Deposits               $73,419,558   $74,482,705      $35,163,849

      Loans Held for Investment
       Yield                             7.13%         7.03%            8.02%
      Net Interest Margin -
       Loans (3)                         1.79%         1.88%            3.30%
      Net Interest Margin -
       Deposits (4)                      2.09%         2.01%            1.62%
      Efficiency Ratio (6)              69.65%        68.98%           79.49%
      Net charge-off rate                0.19%         0.19%            0.48%
      Non Performing Loans            $112,794       $80,781          $79,042
      Non Performing Loans as a %
       of Loans Held for
       Investment                        0.27%         0.19%            0.59%
      Non-Interest Expenses as a
       % of Average Loans Held
       for Investment                    5.18%         5.21%            9.02%

      Number of Active ATMs              1,282         1,253              623
      Number of locations                  732           724              342


    National Lending:
      Interest Income               $3,511,878    $3,261,042       $3,078,097
      Interest Expense               1,232,115     1,197,106        1,089,279
      Net interest income           $2,279,763    $2,063,936       $1,988,818
      Non-interest income            1,312,146     1,177,139        1,213,924
      Provision for loan losses      1,196,087       869,149          862,375
      Other non-interest expenses    1,367,607     1,366,282        1,411,882
      Income tax provision             352,847       346,547          324,366
      Net income                      $675,368      $659,097         $604,119

      Loans Held for Investment   $102,556,271  $101,590,039      $98,909,970
      Average Loans Held for
       Investment                 $101,805,584  $100,520,138      $97,309,087
      Core Deposits(2)                    $470        $1,124         $137,602
      Total Deposits                $2,295,131    $2,411,435       $2,461,941

      Loans Held for Investment
       Yield                            13.77%        12.95%           12.63%
      Net Interest Margin                8.96%         8.21%            8.18%
      Revenue Margin                    14.11%        12.90%           13.17%
      Risk Adjusted Margin              10.15%         9.43%            9.92%
      Non-Interest Expenses as a
       % of Average Loans Held
       for Investment                    5.37%         5.44%            5.80%
      Efficiency Ratio (6)              38.07%        42.16%           44.08%
      Net charge-off rate                3.96%         3.47% (5)        3.25%
      Delinquency Rate (30+ days)        4.70%         3.89%            3.70%

      Number of Loan Accounts
       (000s)                           48,473        48,536           49,176


    Other:
      Net interest income             $(61,250)     $(35,056)        $(29,194)
      Non-interest income               10,639          (249)         (54,041)
      Provision for loan losses          5,023        (5,981)              27
      Restructuring expenses            19,354        91,074              -
      Other non-interest expenses        3,870        28,717           17,667
      Income tax benefit               (27,530)     (112,796)         (38,402)
      Net loss                        $(51,328)     $(36,319)        $(62,527)

      Loans Held for Investment       $(21,375)     $(11,928)          $2,488
      Core Deposits (2)             $5,967,308    $6,937,760       $7,301,435
      Total Deposits                $7,628,125    $8,786,315       $9,987,360


    Total:
      Interest Income               $4,646,430    $4,380,376       $3,595,874
      Interest Expense               1,842,992     1,767,031        1,378,052
      Net interest income           $2,803,438    $2,613,345       $2,217,822
      Non-interest income            1,517,989     1,387,471        1,275,409
      Provision for loan losses      1,142,825       887,097          867,897
      Restructuring expenses            19,354        91,074              -
      Other non-interest expenses    1,914,867     1,943,461        1,726,629
      Income tax provision             428,010       311,572          310,866
      Income From Continuing
       Operations, Net of Tax         $816,371      $767,612         $587,839

      Loans Held for Investment   $144,768,561  $143,497,756     $112,238,546
      Core Deposits (2)            $69,086,358   $70,767,190      $34,436,382
      Total Deposits               $83,342,814   $85,680,455      $47,613,150


    (1) The information in this statistical summary reflects the adjustment to
        add back the effect of securitization transactions qualifying as sales
        under generally accepted accounting principles.  See accompanying
        schedule - "Reconciliation to GAAP Financial Measures." On August 20,
        2007, the Company announced that it would cease residential mortgage
        origination operations of its wholesale mortgage banking unit,
        GreenPoint Mortgage.  The results of the residential mortgage
        origination operations are reported as discontinued operations and
        excluded from the segment results presented.  The results of
        GreenPoint's Mortgage Servicing Business are reported as continuing
        operations for each period presented and included in Local Banking
        results for 2007.
    (2) Includes domestic non-interest bearing deposits, NOW accounts, money
        market deposit accounts, savings accounts, certificates of deposit of
        less than $100,000 and other consumer time deposits.
    (3) Interest Income - funds transfer pricing charges divided by average
        managed loans
    (4) Interest Expense - funds transfer pricing credits divided by average
        retail deposits
    (5) Net charge-off rate for Q2 2007 was positively impacted by 16 basis
        points due to the implementation of a change in customer statement
        generation from 30 to 25 days grace.  This change did not have a
        material impact on the provision for the quarter.
    (6) Efficiency ratio is Non-Interest Expenses divided by total Managed
        Revenue



                     CAPITAL ONE FINANCIAL CORPORATION (COF)
           NATIONAL LENDING SUBSEGMENT FINANCIAL & STATISTICAL SUMMARY
                           FOR CONTINUING OPERATIONS
                                MANAGED BASIS (1)

                                         2007         2007            2006
    (in thousands)                        Q3           Q2              Q3

    US Card:
      Interest Income                 $1,953,967   $1,779,670      $1,734,459
      Interest Expense                   596,767      590,236         554,708
      Net interest income             $1,357,200   $1,189,434      $1,179,751
      Non-interest income                975,502      842,428         881,304
      Provision for loan losses          662,428      402,589         451,782
      Non-interest expenses              815,470      808,769         899,062
      Income tax provision               294,053      282,253         248,574
      Net income                        $560,751     $538,251        $461,637

      Loans Held for Investment      $49,573,279  $50,032,530     $51,127,654
      Average Loans Held for
       Investment                    $49,682,666  $49,573,957     $50,131,562

      Loans Held for Investment
       Yield                              15.73%       14.36%          13.84%
      Net Interest Margin                 10.93%        9.60%           9.41%
      Revenue Margin                      18.78%       16.39%          16.45%
      Risk Adjusted Margin                14.65%       12.66%          13.05%
      Non-Interest Expenses as a
       Percentage of Average Loans
       Held for Investment                 6.57%        6.53%           7.17%
      Efficiency Ratio (2)                34.96%       39.80%          43.62%
      Net charge-off rate                  4.13%        3.73% (5)       3.39%
      Delinquency Rate (30+ days)          4.46%        3.41%           3.53%

      Purchase Volume (3)            $21,522,104  $21,781,462     $21,450,024
      Number of Loan Accounts (000s)      36,504       36,608          37,483


    Auto Finance:
      Interest Income                   $661,471     $651,821        $575,376
      Interest Expense                   283,949      277,783         227,053
      Net interest income               $377,522     $374,038        $348,323
      Non-interest income                 13,514       23,273          21,181
      Provision for loan losses          244,537      182,278         161,145
      Non-interest expenses              152,275      157,044         154,014
      Income tax provision                (1,987)      19,948          19,021
      Net (loss) income                  $(3,789)     $38,041         $35,324

      Loans Held for Investment      $24,335,242  $24,067,760     $21,158,797
      Average Loans Held for
       Investment                    $24,170,047  $23,898,070     $20,812,533

      Loans Held for Investment
       Yield                              10.95%       10.91%          11.06%
      Net Interest Margin                  6.25%        6.26%           6.69%
      Revenue Margin                       6.47%        6.65%           7.10%
      Risk Adjusted Margin                 2.91%        4.30%           4.76%
      Non-Interest Expenses as a %
       of Average Loans Held for
       Investment                          2.52%        2.63%           2.96%
      Efficiency Ratio (2)                38.94%       39.53%          41.68%
      Net charge-off rate                  3.56%        2.35%           2.34%
      Delinquency Rate (30+ days)          7.15%        6.00%           5.18%

      Auto Loan Originations          $3,248,747   $2,992,427      $3,158,481
      Number of Loan Accounts (000s)       1,731        1,771           1,558


    Global Financial Services:
      Interest Income                   $896,440     $829,551        $768,262
      Interest Expense                   351,399      329,087         307,518
      Net interest income               $545,041     $500,464        $460,744
      Non-interest income                323,130      311,438         311,439
      Provision for loan losses          289,122      284,282         249,448
      Non-interest expenses              399,862      400,469         358,806
      Income tax provision                60,781       44,346          56,771
      Net income                        $118,406      $82,805        $107,158

      Loans Held for Investment      $28,647,750  $27,489,749     $26,623,519
      Average Loans Held for
       Investment                    $27,952,871  $27,048,111     $26,364,992

      Loans Held for Investment
       Yield (4)                          12.72%       12.16%          11.58%
      Net Interest Margin                  7.80%        7.40%           6.99%
      Revenue Margin                      12.42%       12.01%          11.72%
      Risk Adjusted Margin                 8.42%        8.03%           8.02%
      Non-Interest Expenses as a %
       of Average Loans Held for
       Investment                          5.72%        5.92%           5.44%
      Efficiency Ratio (2)                46.06%       49.32%          46.47%
      Net charge-off rate                  4.00%        3.98%           3.70%
      Delinquency Rate (30+ days)          3.02%        2.93%           2.86%

      Number of Loan Accounts (000s)      10,238       10,157          10,135


    (1) The information in this statistical summary reflects the adjustment to
        add back the effect of securitization transactions qualifying as sales
        under generally accepted accounting principles.  See accompanying
        schedule - "Reconciliation to GAAP Financial Measures."
    (2) Efficiency ration is non-Interest Expenses divided by total Managed
        Revenue
    (3) Includes all purchase transactions net of returns and excludes cash
        advance transactions.
    (4) Excludes "GFS - Home Loans Originations" and "GFS - Settlement
        Services" from Other Interest Income.
    (5) Net charge-off rate for Q2 2007 was positively impacted by 31 basis
        points due to the implementation of a change in customer statement
        generation from 30 to 25 days grace.  This change did not have a
        material impact on the provision for the quarter.



    CAPITAL ONE FINANCIAL CORPORATION
    Reconciliation to GAAP Financial Measures
    For the Three Months Ended September 30, 2007
    (dollars in thousands) (unaudited)

    The Company's consolidated financial statements prepared in accordance
    with generally accepted accounting principles ("GAAP") are referred to as
    its "reported" financial statements.  Loans included in securitization
    transactions which qualified as sales under GAAP have been removed from
    the Company's "reported" balance sheet.  However, servicing fees, finance
    charges, and other fees, net of charge-offs, and interest paid to
    investors of securitizations are recognized as servicing and
    securitizations income on the "reported" income statement.

    The Company's "managed" consolidated financial statements reflect
    adjustments made related to effects of securitization transactions
    qualifying as sales under GAAP.  The Company generates earnings from its
    "managed" loan portfolio which includes both the on-balance sheet loans
    and off-balance sheet loans.  The Company's "managed" income statement
    takes the components of the servicing and securitizations income generated
    from the securitized portfolio and distributes the revenue and expense to
    appropriate income statement line items from which it originated.  For
    this reason the Company believes the "managed" consolidated financial
    statements and related managed metrics to be useful to stakeholders.


                                                                      Total
                                    Total Reported  Adjustments(1)  Managed(2)
    Income Statement Measures (3)
    Net interest income                 $1,624,474   $1,178,964    $2,803,438
    Non-interest income                  2,149,662    $(631,673)    1,517,989
    Total revenue                        3,774,136     $547,291     4,321,427
    Provision for loan losses              595,534     $547,291     1,142,825
    Net charge-offs                       $480,065     $547,291    $1,027,356

    Balance Sheet Measures
    Loans Held for Investment          $95,405,217  $50,980,053  $146,385,270
    Total assets                      $147,154,835  $50,135,190  $197,290,025
    Average loans Held for Investment  $92,450,865  $52,036,422  $144,487,287
    Average earning assets            $121,169,771  $49,884,042  $171,053,813
    Average total assets              $147,884,578  $51,237,294  $199,121,872
    Delinquencies                       $3,077,211   $2,020,368    $5,097,579

    (1) Income statement adjustments reclassify the net of finance charges of
        $1,659.5 million, past-due fees of $262.7 million, other interest
        income of $(42.7) million and interest expense of $700.5 million; and
        net charge-offs of $547.3 million from Non-interest income to Net
        interest income and Provision for loan losses, respectively.
    (2) The managed loan portfolio does not include auto loans which have been
        sold in whole loan sale transactions where the Company has retained
        servicing rights.
    (3) Based on continuing operations.



    CAPITAL ONE FINANCIAL CORPORATION
    Consolidated Balance Sheets
    (in thousands) (unaudited)

                                         As of          As of         As of
                                      September 30     June 30    September 30
                                          2007         2007 (1)     2006 (1)

    Assets:
    Cash and due from banks             $1,819,121    $2,354,393   $1,461,132
    Federal funds sold and resale
     agreements                          1,922,735     3,940,269    3,340,809
    Interest-bearing deposits at
     other banks                           703,805       753,160      797,708
      Cash and cash equivalents          4,445,661     7,047,822    5,599,649
    Securities available for sale       19,959,247    20,203,381   13,631,409
    Mortgage loans held for sale         1,454,457     2,732,044      311,169
    Loans held for investment           95,405,217    91,617,353   63,612,169
      Less:  Allowance for loan and
       lease losses                     (2,320,000)   (2,120,000)  (1,840,000)
    Net loans held for investment       93,085,217    89,497,353   61,772,169
    Accounts receivable from
     securitizations                     6,905,859     5,481,686    5,617,113
    Premises and equipment, net          2,268,034     2,260,928    1,532,006
    Interest receivable                    793,693       768,617      529,104
    Goodwill                            12,952,838    13,612,005    3,964,177
    Other                                5,289,829     4,334,121    1,949,950
      Total assets                    $147,154,835  $145,937,957  $94,906,746


    Liabilities:
    Non-interest-bearing deposits      $10,840,189   $11,236,110   $4,145,173
    Interest-bearing deposits           72,502,625    74,444,345   43,467,977
    Senior and subordinated notes       10,784,182     9,222,506    8,701,794
    Other borrowings                    22,722,519    20,681,289   17,619,817
    Interest payable                       552,674       543,805      387,000
    Other                                4,965,794     4,623,241    3,908,008
      Total liabilities                122,367,983   120,751,296   78,229,769

    Stockholders' Equity:
    Common stock                             4,183         4,174        3,065
    Paid-in capital, net                15,768,525    15,682,009    7,237,785
    Retained earnings and cumulative
     other comprehensive income         11,395,226    11,386,625    9,551,504
      Less:  Treasury stock, at cost    (2,381,082)   (1,886,147)    (115,377)
      Total stockholders' equity        24,786,852    25,186,661   16,676,977
      Total liabilities and
       stockholders' equity           $147,154,835  $145,937,957  $94,906,746

    (1) Certain prior period amounts have been reclassified to conform to the
        current period presentation.



    CAPITAL ONE FINANCIAL CORPORATION
    Consolidated Statements of Income
    (in thousands, except per share data) (unaudited)

                                                   Three Months Ended
                                       September 30 June 30(1) September 30(1)
                                            2007        2007        2006

    Interest Income:
    Loans held for investment, including
     past-due fees                         $2,381,096  $2,255,573  $1,814,803
    Securities available for sale             252,550     237,978     151,616
    Other                                     133,321     145,135      98,652
       Total interest income                2,766,967   2,638,686   2,065,071

    Interest Expense:
    Deposits                                  740,091     749,603     442,571
    Senior and subordinated notes             144,643     134,061      96,300
    Other borrowings                          257,759     216,441     231,685
       Total interest expense               1,142,493   1,100,105     770,556
    Net interest income                     1,624,474   1,538,581   1,294,515
    Provision for loan and lease losses       595,534     396,713     430,566
    Net interest income after provision
     for loan and lease losses              1,028,940   1,141,868     863,949

    Non-Interest Income:
    Servicing and securitizations           1,354,303   1,226,896   1,071,091
    Service charges and other
     customer-related fees                    522,374     482,979     459,125
    Mortgage banking operations                52,661      68,365      44,520
    Interchange                               103,799     125,979     150,474
    Other                                     116,525      67,632      36,175
       Total non-interest income            2,149,662   1,971,851   1,761,385

    Non-Interest Expense:
    Salaries and associate benefits           627,358     667,904     554,504
    Marketing                                 332,693     326,067     368,498
    Communications and data processing        194,551     192,620     183,020
    Supplies and equipment                    134,639     116,434     111,625
    Occupancy                                  77,597      75,843      49,710
    Restructuring expense                      19,354      91,074         -
    Other                                     548,029     564,593     459,272
       Total non-interest expense           1,934,221   2,034,535   1,726,629
    Income from continuing operations
     before income taxes                    1,244,381   1,079,184     898,705
    Income taxes                              428,010     311,572     310,866
    Income from continuing operations,
     net of tax                               816,371     767,612     587,839
    (Loss) from discontinued operations,
     net of tax                              (898,029)    (17,240)        -
    Net (loss) income                        $(81,658)   $750,372    $587,839


    Basic earnings per share
    Net income from continuing operations       $2.11       $1.96       $1.95
    Net (loss) from discontinued
     operations                                 (2.32)      (0.04)        -
    Net (loss) income                          $(0.21)      $1.92       $1.95

    Diluted earnings per share
    Net income from continuing operations       $2.09       $1.93       $1.89
    Net (loss) from discontinued
     operations                                 (2.30)      (0.04)        -
    Net (loss) income                          $(0.21)      $1.89       $1.89

    Dividends paid per share                    $0.03       $0.03       $0.03


    (in thousands, except per share data) (unaudited)

                                                   Nine Months Ended
                                             September 30     September 30 (1)
                                                 2007               2006

    Interest Income:
    Loans held for investment, including
     past-due fees                               $6,963,349        $5,044,362
    Securities available for sale                   694,608           483,078
    Other                                           460,005           313,370
       Total interest income                      8,117,962         5,840,810

    Interest Expense:
    Deposits                                      2,220,177         1,262,412
    Senior and subordinated notes                   417,250           275,361
    Other borrowings                                712,937           604,563
       Total interest expense                     3,350,364         2,142,336
    Net interest income                           4,767,598         3,698,474
    Provision for loan and lease losses           1,342,292           963,281
    Net interest income after provision
     for loan and lease losses                    3,425,306         2,735,193

    Non-Interest Income:
    Servicing and securitizations                 3,569,281         3,250,201
    Service charges and other
     customer-related fees                        1,484,820         1,308,254
    Mortgage banking operations                     172,476           118,378
    Interchange                                     347,889           401,503
    Other                                           321,417           251,213
       Total non-interest income                  5,895,883         5,329,549

    Non-Interest Expense:
    Salaries and associate benefits               1,970,433         1,607,113
    Marketing                                       989,654         1,048,964
    Communications and data processing              569,405           524,958
    Supplies and equipment                          384,971           322,837
    Occupancy                                       230,835           151,840
    Restructuring expense                           110,428               -
    Other                                         1,687,077         1,325,293
       Total non-interest expense                 5,942,803         4,981,005
    Income from continuing operations
     before income taxes                          3,378,386         3,083,737
    Income taxes                                  1,108,279         1,059,972
    Income from continuing operations,
     net of tax                                   2,270,107         2,023,765
    (Loss) from discontinued operations,
     net of tax (2)                                (926,343)              -
    Net (loss) income                            $1,343,764        $2,023,765


    Basic earnings per share
    Net income from continuing operations             $5.74             $6.73
    Net (loss) from discontinued
     operations                                       (2.34)              -
    Net (loss) income                                 $3.40             $6.73

    Diluted earnings per share
    Net income from continuing operations             $5.66             $6.53
    Net (loss) from discontinued
     operations                                       (2.31)              -
    Net (loss) income                                 $3.35             $6.53

    Dividends paid per share                          $0.08             $0.08

    (1) Certain prior period amounts have been reclassified to conform to the
        current period presentation.
    (2) On August 20, 2007, the Company announced that it would cease
        residential mortgage origination operations of its wholesale mortgage
        banking unit, GreenPoint Mortgage, which was acquired in Q4 2006.  The
        results of the residential mortgage origination operations are being
        reported as discontinued operations for each period presented
        subsequent to the acquisition.



    CAPITAL ONE FINANCIAL CORPORATION
    Statements of Average Balances, Income and Expense, Yields and Rates
    (dollars in thousands) (unaudited)

    Reported                                    Quarter Ended 9/30/07
                                            Average       Income/    Yield/
                                            Balance       Expense     Rate
    Earning assets:
     Loans held for investment              91,744,846    2,381,096   10.38%
     Securities available for sale          20,041,177      252,550    5.04%
     Other                                   5,908,249      133,321    9.03%
    Total earning assets (2)              $117,694,272   $2,766,967    9.40%

    Interest-bearing liabilities:
     Interest-bearing deposits
       NOW accounts                         $4,759,665      $34,030    2.86%
       Money market deposit accounts        28,696,735      294,873    4.11%
       Savings accounts                      8,345,638       37,474    1.80%
       Other Consumer Time Deposits         17,203,453      194,256    4.52%
       Public Fund CD's of $100,000 or
        more                                 1,884,767       23,092    4.90%
       CD's of $100,000 or more              8,673,860      103,296    4.76%
       Foreign time deposits                 3,991,056       53,070    5.32%
     Total Interest-bearing deposits       $73,555,174     $740,091    4.02%
     Senior and subordinated notes           9,811,821      144,643    5.90%
     Other borrowings                       18,892,876      257,759    5.46%
    Total interest-bearing liabilities    $102,259,871   $1,142,493    4.47%

    Net interest spread                                                4.93%

    Interest income to average
     earning assets                                                    9.40%
    Interest expense to average
     earning assets                                                    3.88%
    Net interest margin                                                5.52%


    (dollars in thousands) (unaudited)

    Reported                                 Quarter Ended 6/30/07 (1)
                                            Average       Income/    Yield/
                                            Balance       Expense     Rate
    Earning assets:
     Loans held for investment              91,144,738    2,255,573   9.90%
     Securities available for sale          19,144,926      237,978   4.97%
     Other                                   9,140,405      145,135   6.35%
    Total earning assets (2)              $119,430,069   $2,638,686   8.84%

    Interest-bearing liabilities:
     Interest-bearing deposits
       NOW accounts                         $5,115,994      $36,764   2.87%
       Money market deposit accounts        27,612,189      276,038   4.00%
       Savings accounts                      8,409,684       36,294   1.73%
       Other Consumer Time Deposits         18,494,150      217,700   4.71%
       Public Fund CD's of $100,000 or
        more                                 1,981,883       24,290   4.90%
       CD's of $100,000 or more              9,609,949      107,491   4.47%
       Foreign time deposits                 3,994,639       51,026   5.11%
     Total Interest-bearing deposits       $75,218,488     $749,603   3.99%
     Senior and subordinated notes           9,336,130      134,061   5.74%
     Other borrowings                       17,124,784      216,441   5.06%
    Total interest-bearing liabilities    $101,679,402   $1,100,105   4.33%

    Net interest spread                                               4.51%

    Interest income to average
     earning assets                                                   8.84%
    Interest expense to average
     earning assets                                                   3.69%
    Net interest margin                                               5.15%


    (dollars in thousands) (unaudited)

    Reported                                 Quarter Ended 9/30/06 (1)
                                           Average       Income/    Yield/
                                           Balance       Expense     Rate
    Earning assets:
     Loans held for investment             62,428,789    1,814,803   11.63%
     Securities available for sale         14,259,073      151,616    4.25%
     Other                                  4,749,636       98,652    8.31%
    Total earning assets (2)              $81,437,498   $2,065,071   10.14%

    Interest-bearing liabilities:
     Interest-bearing deposits
       NOW accounts                          $619,460       $4,816    3.11%
       Money market deposit accounts       11,237,206      103,073    3.67%
       Savings accounts                     3,911,765       28,604    2.92%
       Other Consumer Time Deposits        14,325,784      153,881    4.30%
       Public Fund CD's of $100,000 or
        more                                1,022,465       13,046    5.10%
       CD's of $100,000 or more             8,302,487       95,229    4.59%
       Foreign time deposits                3,564,708       43,922    4.93%
     Total Interest-bearing deposits      $42,983,875     $442,571    4.12%
     Senior and subordinated notes          6,544,768       96,300    5.89%
     Other borrowings                      18,010,737      231,685    5.15%
    Total interest-bearing liabilities    $67,539,380     $770,556    4.56%

    Net interest spread                                               5.58%

    Interest income to average
     earning assets                                                  10.14%
    Interest expense to average
     earning assets                                                   3.78%
    Net interest margin                                               6.36%

    (1) Prior period amounts have been reclassified to conform with current
        period presentation.
    (2) Average balances, income and expenses, yields and rates are based on
        continuing operations.



    CAPITAL ONE FINANCIAL CORPORATION
    Statements of Average Balances, Income and Expense, Yields and Rates
    (dollars in thousands) (unaudited)

    Managed (1)                                  Quarter Ended 9/30/07
                                             Average       Income/    Yield/
                                             Balance       Expense     Rate
    Earning assets:

     Loans held for investment              143,781,268    4,324,272   12.03%
     Securities available for sale           20,041,177      252,550    5.04%
     Other                                    3,755,869       69,610    7.41%
    Total earning assets (3)               $167,578,314   $4,646,432   11.09%

    Interest-bearing liabilities:
     Interest-bearing deposits
        NOW accounts                         $4,759,665      $34,030    2.86%
        Money market deposit accounts        28,696,735      294,873    4.11%
        Savings accounts                      8,345,638       37,474    1.80%
        Other Consumer Time Deposits         17,203,453      194,256    4.52%
        Public Fund CD's of $100,000 or
         more                                 1,884,767       23,092    4.90%
        CD's of $100,000 or more              8,673,860      103,296    4.76%
        Foreign time deposits                 3,991,056       53,070    5.32%
     Total Interest-bearing deposits        $73,555,174     $740,091    4.02%
     Senior and subordinated notes            9,811,821      144,643    5.90%
     Other borrowings                        18,892,876      257,759    5.46%
     Securitization liability                51,320,446      700,501    5.46%
    Total interest-bearing liabilities     $153,580,317   $1,842,994    4.80%

    Net interest spread                                                 6.29%

    Interest income to average
     earning assets                                                    11.09%
    Interest expense to average
     earning assets                                                     4.40%
    Net interest margin                                                 6.69%


    (dollars in thousands) (unaudited)

    Managed (1)                                Quarter Ended 6/30/07 (2)
                                             Average       Income/    Yield/
                                             Balance       Expense     Rate
    Earning assets:

     Loans held for investment              142,616,011    4,055,689   11.38%
     Securities available for sale           19,144,926      237,978    4.97%
     Other                                    7,080,441       86,709    4.90%
    Total earning assets (3)               $168,841,378   $4,380,376   10.38%

    Interest-bearing liabilities:
     Interest-bearing deposits
        NOW accounts                         $5,115,994      $36,764    2.87%
        Money market deposit accounts        27,612,189      276,038    4.00%
        Savings accounts                      8,409,684       36,294    1.73%
        Other Consumer Time Deposits         18,494,150      217,700    4.71%
        Public Fund CD's of $100,000 or
         more                                 1,981,883       24,290    4.90%
        CD's of $100,000 or more              9,609,949      107,491    4.47%
        Foreign time deposits                 3,994,639       51,026    5.11%
     Total Interest-bearing deposits        $75,218,488     $749,603    3.99%
     Senior and subordinated notes            9,336,130      134,061    5.74%
     Other borrowings                        17,124,784      216,441    5.06%
     Securitization liability                50,841,894      666,926    5.25%
    Total interest-bearing liabilities     $152,521,296   $1,767,031    4.63%

    Net interest spread                                                 5.75%

    Interest income to average
     earning assets                                                    10.38%
    Interest expense to average
     earning assets                                                     4.19%
    Net interest margin                                                 6.19%


    (dollars in thousands) (unaudited)

    Managed (1)                                Quarter Ended 9/30/06 (2)
                                             Average       Income/    Yield/
                                             Balance       Expense     Rate
    Earning assets:

     Loans held for investment              110,512,266    3,401,130   12.31%
     Securities available for sale           14,259,073      151,616    4.25%
     Other                                    2,970,236       43,128    5.81%
    Total earning assets (3)               $127,741,575   $3,595,874   11.26%

    Interest-bearing liabilities:
     Interest-bearing deposits
        NOW accounts                           $619,460       $4,816    3.11%
        Money market deposit accounts        11,237,206      103,073    3.67%
        Savings accounts                      3,911,765       28,604    2.92%
        Other Consumer Time Deposits         14,325,784      153,881    4.30%
        Public Fund CD's of $100,000 or
         more                                 1,022,465       13,046    5.10%
        CD's of $100,000 or more              8,302,487       95,229    4.59%
        Foreign time deposits                 3,564,708       43,922    4.93%
     Total Interest-bearing deposits        $42,983,875     $442,571    4.12%
     Senior and subordinated notes            6,544,768       96,300    5.89%
     Other borrowings                        18,010,737      231,672    5.15%
     Securitization liability                47,648,021      607,510    5.10%
    Total interest-bearing liabilities     $115,187,401   $1,378,053    4.79%

    Net interest spread                                                 6.47%

    Interest income to average
     earning assets                                                    11.26%
    Interest expense to average
     earning assets                                                     4.32%
    Net interest margin                                                 6.94%


    (1) The information in this table reflects the adjustment to add back the
        effect of securitized loans.
    (2) Prior period amounts have been reclassified to conform with current
        period presentation.
    (3) Average balances, income and expenses, yields and rates are based on
        continuing operations.
SOURCE  Capital One Financial Corporation
    -0-                             10/18/2007
    /CONTACT:  Investor Relations, Jeff Norris, +1-703-720-2455; Media
Relations, Tatiana Stead, +1-703-720-2352, or Julie Rakes, +1-804-284-5800,
all of Capital One Financial Corporation/
    /Web site: http://www.capitalone.com /
    (COF)

CO:  Capital One Financial Corporation
ST:  Virginia
IN:  FIN
SU:  ERN CCA

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1601 10/18/2007 16:23 EDT http://www.prnewswire.com