Capital One Settles Age Discrimination Lawsuit

    MCLEAN, Va., June 12 /PRNewswire-FirstCall/ -- Capital One Financial
 Corporation (NYSE:   COF) and a group of its former employees, and their
 attorneys, today announced that they have resolved all age discrimination
 disputes between Capital One and the employees.
     The settlement, which all parties have agreed to keep confidential, closed
 out a case filed in December 2002 by former Capital One employees who had been
 terminated. The company denied any liability in connection with the lawsuit
 and continued to emphasize its commitment to diversity in the workplace.
     Tom Feltman, on behalf of the plaintiffs, stated "We continue to be proud
 of our many contributions to Capital One's success and hope that the positive
 spirit of cooperation demonstrated by all parties in this settlement is
 preserved in the company's future relations with its employees.  It is our
 sincere hope that the efforts planned by Capital One will foster greater age
 diversity and increase confidence that all employees are evaluated fairly."
     The former Capital One associates were represented by Harris Butler and
 Tim Schulte from the Richmond, Virginia law firm of Butler, Williams &
 Skilling, and by AARP attorneys from Washington, DC.
     AARP managing attorney, Stuart Cohen, said "This settlement with Capital
 One represents a positive resolution of this case.  We are pleased that the
 company's management has expressed a desire to receive our input regarding age
 diversity issues."
     Capital One spokesperson, Tatiana Stead, said "We are pleased to have
 resolved this case on a mutually beneficial basis.  As with any company, we
 must sometimes make difficult decisions when evaluating our personnel. Capital
 One will continue to improve its training efforts both in its evaluation
 process and in diversity awareness, especially with regard to age issues.  We
 are committed to a fair process, a diverse workplace, and a culture where all
 employees are treated with respect and dignity.  Capital One is a proud
 recipient of several recent awards for our human resource practices and
 diversity efforts.  We look forward to further developing a leadership
 position in this important area."
 
     About Capital One
     Headquartered in McLean, 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 46.4 million managed accounts and
 $59.2 billion in managed loans outstanding as of March 31, 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