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Capital One Makes Pigs Fly!

November 13, 2007 at 10:34 AM EST

Flying Pig Airplane Takes to the Skies to Drive Home 'Too Good to Be True' Benefits of Capital One's New Rewards Money Market Account

MCLEAN, Va., Nov. 13 /PRNewswire-FirstCall/ - Capital One Financial Corporation (NYSE: COF) sent pigs into flight today to make a point about its new Rewards Money Market account that earns consumers travel miles for saving money instead of spending it. The commercial jet, a Skybus Airlines Airbus A319 featuring giant flying pigs on the exterior, will travel across the country for the next six months as a larger-than-life reminder that smart saving (putting your pennies in a Capital One Rewards Money Market account instead of a piggy bank) can really take you places.

(Photo: http://www.newscom.com/cgi-bin/prnh/20071113/NETU092 )

The Capital One Rewards Money Market account, offering a competitive interest rate currently 4.00 percent Annual Percentage Yield (APY), is the first-ever savings account to offer rewards miles based on account balance. Customers earn one mile for every $20 of average balance per month, including interest. Plus, consumers can enjoy the same "no hassle" rewards benefits Capital One has offered for years, including no blackout dates, no seat restrictions, no advance booking or Saturday night stay requirements, flights on any airline, no rewards expiry and no limit to the rewards you can earn. The Rewards Money Market also comes with no minimum balance requirements and no maintenance fees, and is FDIC insured.

"Many consumers think that a product that rewards you for saving sounds too good to be true," said Pam Girardo, spokesperson for Capital One Direct Banking. "So we decided to drive home the message in a visual way. If customers think they'll earn rewards for saving money 'when pigs fly,' then we'll put pigs in flight! We think that consumers across the country will get the message loud and clear when they see flying pigs -- smart saving strategies really can take you places."

The inaugural flying pig flight departed today from Port Columbus International Airport in Columbus, OH. More than 100 passengers and airline employees -- sporting piggy snouts and hats -- were hamming it up on the tarmac atop a VIP pink piggy carpet to board the plane.

Capital One is also recognizing some of the some of the nation's most "savvy savers" for their unique ways to save money, by rewarding them with a Rewards Money Market account seeded with $2,500 to put towards a dream vacation.

"Whether it's packing a lunch every day, skipping the expensive coffee shops, or maxing out your 401K -- there are small, easy things that you can do on a daily basis that add up to meaningful savings," said savvy saver Sarah Stein. "Putting your money in a savings account that gives you rewards is a no-brainer in my book."

Stein saves approximately $3000 a year by pinching pennies, and is now inspired to pass along these savvy saving habits to America's youth. She is currently working to start a youth-targeted financial literacy non-profit called The Penny Project, and her efforts are being funded solely by the spare pennies she and her family and friends find on the streets.

The Capital One flying pig plane features six giant flying pig illustrations, adorned with bomber jackets, scarves and aviator goggles. Each of the pigs is approximately 10 feet high with a wingspan of 13 feet. For the next six months, flights on the Capital One Rewards Money Market pig plane will be available to the public on regularly scheduled Skybus Airline routes.

To see what routes the Capital One Rewards Money Market flying pigs plane might service, go to http://www.Skybus.com. For more information about the Capital One Rewards Money Market account, visit http://www.capitalone.com/directbanking or call 1-866-346-6549.

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.

Capital One Direct Banking offers great rates on high yield money market accounts, certificates of deposit and business money market accounts nationwide. Customers enjoy convenient and secure access to their accounts and our service representatives via online, phone or mail channels.

SOURCE Capital One Financial Corporation
CONTACT: Pam Girardo of Capital One Financial Corporation,
+1-703-720-2351, Pam.girardo@capitalone.com/