FALLS CHURCH, Va., April 19 /PRNewswire/ -- Capital One Financial
Corporation (NYSE: COF) today announced the selection of D'Arcy Masius Benton
& Bowles (DMB&B) as its new integrated communications agency partner.  The
selection was made after an exhaustive global agency search that began in late
1998.
    Capital One forecasts an $80-$100 million brand communications budget with
DMB&B over the next 12-18 months.  Capital One and DMB&B will partner on
creative development, media planning and buying, interactive communications
and global brand strategy.  Direct marketing will continue to be handled by
Capital One's in-house agency, where marketing amounted to $446 million in
1998.
    Richard D. Fairbank, Capital One's Chairman and Chief Executive Officer,
said, "We've been very successful since our IPO in 1994, having achieved
annual per share earnings growth and return on equity of more than 20 percent
for four consecutive years.  As Capital One evolves into a world-class
marketing company, it's only natural for us to move forward by developing a
winning global brand strategy."
    "Capital One is on an amazing growth trajectory, thanks to our
Information-Based Strategy, which continues to fuel countless marketing and
product innovations," said William J. McDonald, Capital One's Senior Vice
President of Brand Marketing.  "The addition of DMB&B's diverse strengths to
our marketing team will turbo charge our already powerful business model as we
expand into new markets and businesses around the world."
    Capital One noted DMB&B's strong network of integrated communications
agencies was the key determinant in their winning the business.  For Capital
One, DMB&B's customized network will include:  DMB&B, New York (financial
services and recruiting); DMB&B St. Louis (America One Communications);
MediaVest (media planning and buying); Highway One, San Francisco (affinity
marketing); Clarion, Connecticut (sales promotion and direct marketing); Blue
Marble, New York (internet); and DMB&B United Kingdom/I.M.P. (UK financial
services).
    "Capital One is already a fantastic business, with enormous untapped
potential to develop still further," said John Farrell, President, DMB&B North
America.  "Right from the beginning of our discussions there was also a shared
approach to brand building and passion for leadership."
    Susan Giannino, DMB&B's Chief Marketing & Brand Officer, added, "Our new
approach creating and sustaining leadership through brand optimization really
captured Capital One's imagination.  The more we got talking about this, the
more we realized what a potent partnership DMB&B and Capital One could be in
the marketplace."
    DMB&B is one of the world's largest global communications companies, and
is part of the MacManus Group.  It has more than 6,000 employees in
75 countries.  The agency's major worldwide clients include:  Proctor &
Gamble, General Motors, M&M Mars, The Coca-Cola Company, Burger King,
Pillsbury, TWA, Ernst & Young, Australian Tourist Commission and
Phillips/Norelco.
    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 18.0 million customers and
$17.4 billion in managed loans as of March 31, 1999.  Capital One trades on
the New York Stock Exchange under the symbol "COF" and is included in the
S&P 500 Index.  Capital One was recently ranked #41 in Fortune's list of "Best
Companies To Work For" and #15 best performer in Business Week's rating of the
S&P 500.

SOURCE  Capital One Financial Corporation