Program offers new competitive auto dealer programs and expanded auto dealer relationships

MCLEAN, VA.  – Capital One Auto Finance, the auto finance division of Capital One Financial Corporation (NYSE:COF), recently introduced a new business model that emphasizes full-credit spectrum financing, dedicated auto dealer relationship teams and dealer customer service. The new program, called the One Program, successfully integrates Capital One’s diverse auto finance organizations and offers its auto dealer customers multi-channel, fullcredit spectrum financing.

The new business model has amplified Capital One’s focus on a full-credit spectrum and auto dealer customer service. Highlights of the program include:

• Multi-Channel, Full-Credit Spectrum – the program leverages the combined strengths of Capital One®, Onyx Acceptance Corporation®, North Fork Bank, and Hibernia Bank to offer an easy one application, fast auto financing solution to virtually every type of customer; super-prime, prime, near-prime and sub-prime
  

• Competitive Dealer Programs - new programs that feature competitive rates and terms for a full-credit spectrum, with greater simplicity and fewer stipulations
  

• Dedicated Dealer Relationship Teams – auto dealers can now count on the combined experience of a well-trained and highly motivated team of specialists, including a dedicated Relationship Manager, and a dedicated Field Representative, who will work with each dealer from application to funding
  

• Fast Turnaround – continued streamlined decision making is at the core of this full-service approach, enabling each auto dealer to service customers faster and more easily; all supported by hands-on interaction with Capital One team members Capital One Introduces the One Program

“This new model emphasizes dealer relationships and service,” said Ryan Schneider, president of Capital One Auto Finance. “We have identified the best practices of Capital One, Onyx, Hibernia and North Fork, and have implemented these practices to improve our pricing, funding and dealer customer experience. We have realigned and broadened our business to become each dealer’s primary lender of choice and believe that we have made each auto dealer’s lending road ahead faster, wider and smoother.”

The new One Program will be available nationwide to all auto dealers by June 18, 2007. Additionally, the One Program has simplified the finance application process by only requiring one application from the auto dealer to Capital One for super-prime, prime, near-prime and subprime customers.

“Our dealership has had the opportunity to utilize Capital One’s new One Program, and now that Capital One offers a full-credit spectrum product, we can maximize our profits on a full range of deals,” said Heather Cook, finance manager at Hughes Automotive Company in Santa Barbara, CA. “We have enjoyed the partnerships we have built with our new dedicated relationship team and have profited from the increased lending flexibility that this program offers.”

About Capital One
Headquartered in McLean, Virginia, Capital One Financial Corporation ( www.capitalone.com ) is a financial holding company, with more than 720 locations in New York, New Jersey, Connecticut, Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One, F.S.B., Capital One Auto Finance, Inc., capital One, N.A., and North Fork Bank offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients.

Headquartered in Plano, Texas, Capital One Auto Finance, Inc., ( www.capitalone.com/autoloans ), is a fullcredit spectrum auto lender which offers a wide-range of auto finance products. Capital One Auto Finance is the nation’s third largest independent auto lender as well as the nation’s largest direct mail and online vehicle financing provider with managed outstandings of $23.9 billion. Capital One Auto Finance has a nationwide dealer network of over 18,000 dealers. Capital One Auto Finance is a subsidiary of Capital One Financial Corporation (NYSE: COF).