FALLS CHURCH, Va., Feb. 23 /PRNewswire/ -- Capital One Financial Corp. (NYSE: COF) was honored today with the Points of Light Foundation Award for Excellence in Corporate Community Service. The award recognizes companies around the world that are committed to employee volunteer programs that meet strategic business goals and address serious social problems.

"Capital One was chosen for their belief that a community strategy is an integral part of their ultimate success as a company," said Robert K. Goodwin, president and CEO of the Points of Light Foundation. "Capital One seeks to move the social needle by developing long-term partnerships that are continually assessed and adapted to the changing needs of the communities in which they operate."

The Points of Light Foundation Awards for Excellence are designed to honor those companies that have made a serious commitment to the community and have made volunteerism a central part of their operations.

"Our community strategy, which focuses on youth at risk and community development, aligns our associates' passions with the needs in our communities," said Nigel W. Morris, President and Chief Operating Officer of Capital One. "Last year, over a third of our associates volunteered more than 50,000 hours of service. We truly believe that by combining our human, financial and leadership resources, we can make a meaningful and measurable difference."

In 2000, Capital One associates donated blood, served meals at homeless shelters, collected more than 90,000 pounds of non-perishable food items for local food banks, helped renovate six homes through Christmas in April and built 11 new homes for Habitat for Humanity.

"We recognize that real community change begins by connecting our business, our associates and our community through long-term, innovative partnerships," Morris said. "We have made it a priority to develop and support community programs that serve at-risk youth, promote education and help the community become a safer and healthier place."

Examples of Capital One long-term partnerships include the Capital One Leadership Grants Program, a collaboration with non-profit agencies dedicated to helping children "dream, learn and succeed." More than 2,000 children have been served by the program which is dedicated to creating new educational opportunities, life skills and leadership training for at-risk youth. In addition, Capital One partners with Kids Cafes to serve more than 24,000 meals to 6,000 children each week in a safe, learning environment. Capital One has provided more than $350,000 in scholarships, helping to send 43 graduating seniors to college.

The Points of Light Foundation joined with major business and nonprofit organizations to establish the Awards for Excellence in Corporate Community Service to recognize companies for their overall volunteer efforts and the policies and corporate visions that support employee volunteer programs. Nominations for the Awards for Excellence are judged by the leaders of major business and nonprofit groups that are committed to corporate community service. Other 2000 award recipients include Alibris, Boeing Co., Holland & Knight, Petroleos de Venezuela and Salt River Project. More information can be found at http://www.pointsoflight.com.

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 33.8 million customers and $29.5 billion in managed loans outstanding as of December 31, 2000. Capital One is one of the major financial service providers on the Internet, with online account decisioning, real-time account numbering, online retail deposits and a growing number of customers serviced online. 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. SOURCE Capital One Financial Corporation

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