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World Bank CFO Officially Joins Capital One Management Team

August 6, 2003 at 8:46 AM EDT

MCLEAN, Va., Aug 6, 2003 /PRNewswire-FirstCall via COMTEX/ -- Capital One Financial Corporation (NYSE: COF) today announced that Gary L. Perlin, former Chief Financial Officer of the World Bank, officially joined the company on July 29, 2003.

Perlin will assume the title of Executive Vice President and Chief Financial Officer and serve as principal accounting officer of Capital One following the filing of the company's quarterly report on Form 10-Q for the three months ended June 30, 2003.

David R. Lawson, who is currently serving as interim Chief Financial Officer for the company, along with Richard D. Fairbank, Chief Executive Officer of Capital One, are expected to certify the Form 10-Q as required under the Sarbanes-Oxley Act of 2002. Lawson will then resume his responsibilities as President and Chief Executive Officer of Capital One Auto Finance.

Additionally, the company announced that Robert Crawford, currently Vice President and Controller of Capital One, will depart the company on August 31, 2003 to join SLM Corporation (commonly known as Sallie Mae) as Senior Vice President and Controller. Following his departure, Crawford's day-to-day responsibilities will be handled by Aubrey Thacker, Director, Finance and Accounting, until a replacement is appointed.

About Capital One

Headquartered in McLean, Virginia, Capital One Financial Corporation (http://www.capitalone.com/) is a holding company whose principal subsidiaries include: Capital One Bank and Capital One, F.S.B., which offer consumer lending products, and Capital One Auto Finance, Inc., which offers auto loan products. Capital One's subsidiaries collectively had 45.8 million managed accounts and $60.7 billion in managed loans outstanding as of June 30, 2003. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One 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

Paul Paquin, V.P., Investor Relations, +1-703-720-2456, or Tatiana Stead, Director, Corporate Media, +1-703-720-2352, both of Capital One Financial Corporation