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CapitalOne.com Celebrates One Millionth Online Customer

September 19, 2000 at 8:02 AM EDT

FALLS CHURCH, Va., Sept. 19 /PRNewswire/ -- Capital One Bank today announced it has surpassed one million customers who have enrolled for online servicing of their credit card account.

By logging onto http://www.CapitalOne.com, customers are able to view their accounts, purchases, pay their bills, access new e-products and take advantage of a variety of discounts and special offers that Capital One has negotiated exclusively for its 27 million accounts. Online services include: online application processing, with decisioning in under 60 seconds and instant account numbering; online account servicing; $0 fraud liability; return guarantee and purchase protection; an electronic wallet (http://www.CapitalOneWallet.com); an online shopping portal (http://www.CapitalOnePlace.com); and free Internet service (http://www.OneRamp.com).

Capital One research finds that 73 percent of general online users do not feel safe releasing credit card numbers over the Internet. Overall, 46 percent of online users are browsing on the Internet, with security concerns as the primary barrier to purchasing.

"The Internet is tailor made for Capital One's ability to get the right product to the right customer at the right time," said Richard D. Fairbank, Chairman and Chief Executive Officer. "That is why, unlike many other Internet and financial services companies, our disciplined 'test and learn' Internet marketing strategies and investments are now proving to create great value for our consumers, making online shopping, buying and billing simpler and safer."

Capital One research shows that 98 percent of its customers rate the look and feel of www.CapitalOne.com as "good" or "excellent," while 99 percent of its customers give top marks to ease of navigation.

"Our constant interaction with our more than 27 million customers gives us a better understanding of consumers than our competitors. We know credit cards are the currency of the Internet," said Nigel Morris, Capital One's President and Chief Operating Officer. "And we've learned that while consumers are comfortable with online shopping, they are still fearful of online buying. We are excited to create Internet solutions that educate and enhance our customers' online experiences. And, we're pioneering even more breakthroughs for the online consumer."

Headquartered in Falls Church, Virginia, Capital One Financial Corporation (NYSE: COF) 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 27.1 million accounts and $21.9 billion in managed loans outstanding as of June 30, 2000. Capital One is one of the major financial service providers on the Internet, with online account decisioning, real-time account numbering, and online retail deposits. 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

/NOTE TO EDITORS: Capital One recently launched "Cyberized," a national media program aimed at helping consumers feel more comfortable when buying online/

CONTACT: Tatiana Stead of Capital One Financial Corporation, 703-205-1070, or tatiana.stead@capitalone.com,; or Judy Santiago, 212-213-7238, or jsantiago@mslpr.com, for Capital One Financial Corporation/