CSR Press Release

NEW ORLEANS, LA. - March 18, 2008 – Capital One Financial Corporation (NYSE:COF) announced today a donation of $150,000 to Make It Right, a residential green-building project led by actor Brad Pitt. This contribution covers the expected cost to build one of 150 new homes planned for the Lower 9th Ward, which suffered major damage in the floods that followed Hurricane Katrina.

Make It Right is serving as a catalyst for redevelopment in the neighborhood with environmentally-friendly, affordable housing which incorporates modern, high-quality design and construction while preserving the spirit of the community’s culture.

"Capital One is proud to be a corporate sponsor for Make it Right and to further our efforts to rebuild New Orleans. This city is important for many reasons, but for some of our associates, it is home," said Carolyn Berkowitz, Vice President of Community Affairs. "At Capital One, we are active participants in making our communities safe and vibrant. Our hope is that through participation, we can inspire other companies to play a role in a city that means so much to so many."

Since Hurricane Katrina devastated the region in 2005, Capital One has contributed millions of dollars and thousands of volunteer hours to improving and offering support for children and families in New Orleans and across Louisiana. Capital One operates more than 50 branches in the New Orleans area.

Capital One has awarded more than $1 million in community development grants in and around New Orleans, pledged $1 million to help establish the Capital One/University of New Orleans Charter School Center, and awarded another $1 million in education-related grants throughout the state of Louisiana.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $83.0 billion in deposits and $151.4 billion in managed loans outstanding as of December 31, 2007. Headquartered in McLean, VA, Capital One has 742 locations in New York, New Jersey, Connecticut, Texas and Louisiana. It is a diversified financial services company 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.

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