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Capital One and Consumer Action Provide Grants to Promote MoneyWi$e Communities

March 30, 2004 at 10:01 AM EST
              More Than $125,000 in Grants Awarded to Facilitate
                   Financial Education in Local Communities

MCLEAN, Va., March 30 /PRNewswire-FirstCall/ -- Consumer advocacy group Consumer Action and leading credit card provider Capital One Financial Corporation (NYSE: COF) today announced their joint MoneyWi$e financial literacy partnership will grant more than $125,000 to 36 community-based non- profit organizations in 8 states. Now in its second year, the MoneyWi$e stipend program provides financial support to help local organizations deliver financial literacy training to under-served communities across the country.

"The MoneyWi$e stipends provide an opportunity for organizations to incorporate financial education and financial literacy into the range of programs they're already offering," said Diana Don, Director of Financial Education for Capital One. "Each of these organizations provides an invaluable service to the people in their communities and we are proud to be able to support their efforts."

Local organizations in California, Florida, Maryland, Oklahoma, Pennsylvania, Texas, Virginia and West Virginia will receive grants of up to $5,000 to help fund training workshops, financial counseling for low-income and homeless families, immigrants and students in their communities.

"Unfortunately, many people lack a basic understanding of personal finance and money management and need help with fundamental financial issues like developing budgets and learning to save," said Ken McEldowney, Executive Director of Consumer Action. "Through the MoneyWi$e program and our partnership with Capital One we are able to provide a consumers at all income levels with the information they need to help better understand and manage their finances."

Additional information and consumer resources on financial education and money management are available online at the MoneyWi$e website (www.money-wise.org). MoneyWi$e is the first program of its kind to combine free, multilingual financial education materials with community training and seminars for consumers at all income levels. MoneyWi$e topics include understanding and building good credit, basic money management, banking basics, talking to teens about money, and understanding the pros and cons of bankruptcy. Factsheets for each topic are on the website, as well as teaching tools for community-based organizations interested in presenting the information to their constituents.

About Capital One

Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a holding company whose principal subsidiaries include: Capital One Bank and Capital One, F.S.B., which offer consumer lending products, and Capital One Auto Finance, Inc., which offers primarily automobile financing products. Capital One's subsidiaries collectively had 47.0 million managed accounts and $71.2 billion in managed loans outstanding as of December 31, 2003. 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.

About Consumer Action

Consumer Action is a non-profit, membership-based organization founded in San Francisco in 1971. Consumer Action serves consumers nationwide by advancing consumer rights, referring consumers to complaint-handling agencies and publishing multilingual educational materials. Consumer Action also advocates for consumers in the media and before lawmakers and annually conducts comparison surveys for consumers on credit cards, banking issues and telecommunications issues.

SOURCE Capital One Financial Corporation

CONTACT: Diana Don of Capital One Financial Corporation,
+1-703-720-2371, or diana.don@capitalone.com
Web site: http://www.capitalone.com
http://www.money-wise.org
(COF)