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Governor Locke Joins Capital One to Announce Expansion in Federal Way

June 1, 2000 at 1:49 PM EDT

FALLS CHURCH, Va., June 1 /PRNewswire/ -- Washington Governor Gary Locke joined Capital One to officially open the company's processing facility and to announce the company's plans to open its first West Coast customer relations call center. The Fortune "Best Place to Work" company plans to hire an additional 300 people to staff the customer relations call center at its SeaTac Plaza location in Federal Way. These new jobs are in addition to the 260 open positions for the production facility that are expected to be filled by the end of the year. Those interested in opportunities are invited to call the company's hiring line at 1-800-77-HIRE-1.

Governor Locke said of Capital One's expansion plans, "I am thrilled that Capital One is creating more family-wage jobs here in Washington. Not only does this announcement expand Capital One's presence in the community with quality jobs, but it strengthens the local economy. And I appreciate the company's commitment to helping at-risk children through its unique partnerships."

The state-of-the-art 144,000-square-foot processing facility, located at East Campus Corporate Park, is fully equipped to support around-the-clock processing for the credit card business. Currently, Capital One employs 240 associates in the processing plant to implement many of the company's operational needs.

"Expanding to the West Coast has proven to be a stellar fit for Capital One," said President and Chief Operating Officer Nigel Morris. "We have found a passionate labor force here in Federal Way that is committed to providing top-tier quality service to our burgeoning 25 million-plus customer base. We are looking forward to continuing to explore options for growth in the Federal Way area that will support our business needs."

As part of the day's celebration, Capital One announced a partnership with Communities in Schools of Washington. The $60,000 Capital One grant will be used to support Communities in Schools' mission of helping young people learn, stay in school and prepare for life. This gift is in addition to a $100,000 grant that Capital One donated to the Washington Reading Corps when it first announced its West Coast expansion (January 1999).

Mark Tiltman, Capital One's Federal Way Site Director, stressed the company's commitment to Washington State. "Not only do we want to be an employer of choice with high caliber jobs in the area, but we also want to be a good neighbor. We recognize the true connection between our business, our associates and our community, and see that as a powerful force in making a meaningful difference in the lives of at-risk children."

Headquartered in Falls Church, Virginia, Capital One Financial Corporation (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 25.3 million accounts and $20.3 billion in managed loans outstanding as of March 31, 2000. Capital One is one of the major financial service providers on the Internet, with on-line account decisioning, real-time account numbering, on-line retail deposits and a growing number of customers serviced on-line. 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. Capital One was also ranked by Business Week as one of the Top 50 Best Performers of the Standard & Poor's 500 companies index from March 1, 1999 to March 1, 2000 (March 27 issue). SOURCE Capital One Financial Corporation

CONTACT: Hamilton Holloway of Capital One, 804-934-5900, or email: Hamilton.Holloway@CapitalOne.com/