March 09, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Governor Gilmore Announces Capital One's Decision for Expansion into Chesterfield County
-- Company to Create 600 New Jobs at High-Tech Center - -

Chesterfield County - Virginia Governor Jim Gilmore today announced the decision by Capital One to locate a new customer contact center in Chesterfield County. The decision will initially result in the creation of 600 new jobs for Richmond-area residents. Capital One will occupy a shell building in the River's Bend development near Chester by August.

"I am pleased to welcome this latest investment by a respected and vibrant corporate citizen such as Capital One," Governor Gilmore said. "Capital One has used cutting edge technology to become a true Virginia success story, and I am excited by its continued growth and strong commitment to its home state."

Capital One Financial was founded in Virginia in 1994 and is one of the nation's leading consumer credit companies. With over 12 million customers, Capital One has been able to utilize some of the most sophisticated information technology programs in the industry to identify new customers and help them meet their financial goals. The company is also expanding into other consumer lending products through Capital One Bank and Capital One F.S.B.

"Capital One has achieved such rapid growth since it became independent because of our excellent customer service and willingness to embrace technology to build our market share," commented Richard D. Fairbank, Capital One's Chairman and Chief Executive Officer. Nigel Morris, the company's President and Chief Operating Officer, added, "As we carefully evaluated our expansion plans, our experience with the highly-skilled and knowledgeable workforce in the metro Richmond area led us to conclude that we need look no further than our own home base as the ideal location for this new facility." More than 4,000 of Capital One's 6,000 employees worldwide are currently located in the Richmond metro area.

At today's announcement ceremony, the establishment of a toll-free hotline for local residents to use in order to learn more about the new employment opportunities at the Chesterfield risk operations facility was announced. Prospective employees should call 1-800-77-HIRE-1 to learn more about how to become a Capital One associate. The Virginia Economic Development Partnership and the Chesterfield County Department of Economic Development worked together to assist the company with its decision. The Virginia Department of Business Assistance will provide workforce training services, and the company will be eligible for the Major Business Facility Job Tax Credit.

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