February 09, 1999

Lila White
(804) 692-3110

Diana Don
Capital One
(703) 205-1165
Jill Lawrence
(804) 371-0049
Governor Gilmore Announces Capital One Expansion
-- Company's expansion will create more than 3,000 new jobs throughout Virginia this year --

Richmond - Governor Jim Gilmore today announced Capital One's decision to expand its operations throughout the Commonwealth by more than 3,000 new jobs and 500,000 square feet during 1999. Capital One will create 2,010 additional jobs in Henrico County, 350 in Chesterfield County, 400 in Spotsylvania County, and 315 in Fairfax County.

"I am delighted by Capital One's decision to expand in its home state," Governor Gilmore said. "Capital One is a valued corporate citizen and is showing its commitment to Virginia with today's announcement. The company has brought the Commonwealth national recognition because of its innovative employment practices."

Capital One Financial Corporation was founded in Virginia in 1994 and is one of the nation's leading consumer credit companies. Capital One's subsidiaries, Capital One Bank and Capital One, F.S.B., collectively had 16.7 million customers and $17.4 billion in managed loans as of the end of 1998. Headquartered in Falls Church, the company recently was ranked 41st by Fortune magazine in its listing of the "100 Best Companies to Work for in America."

"In 1999, we will continue to grow as we expand our product offerings and aggressively pursue all marketing possibilities," Capital One's Chairman and CEO Richard D. Fairbank said. "These expansion efforts will support our infrastructure and allow us to better serve our nearly 17 million customers worldwide."

"Virginia is very important to Capital One ­ it's our home base. We have more than 7,000 associates in Virginia who have enabled Capital One to flourish, while maintaining the highest level of service to our customers," Capital One¹s President and Chief Operating Officer Nigel Morris added. "We select our locations based on a number of criteria ­ an excellent labor pool, as well as access to transportation and technology. Virginia provides this in abundance. We continue to feel there are many opportunities for us in our home state to build upon our successes and support our growth."

In March 1998, the Governor announced that Capital One would create 600 new jobs in Chesterfield County. Prospective employees may call 1-800-77-HIRE-1 for more information on job opportunities at Capital One.

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