Capital One Announces Redemption Of $3.65 Billion Of Outstanding Trust Preferred Capital Securities

Capital One Financial Corporation (NYSE: COF) (the “Company”) today announced the redemption of certain trust preferred capital securities (the “Securities”), which will be redeemed on January 2, 2013. Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that Tier I capital credit for trust preferred securities be phased out over a three-year transition period starting on January 1, 2013.

The following Securities will be redeemed pursuant to redemption provisions relating to the occurrence of a capital treatment event, at a price equal to 100% of the aggregate principal amount of such Securities, plus accrued and unpaid distributions thereon to the date of redemption:

Trust			Security			Amount			CUSIP
Capital One Capital III			7.686% Capital Securities			$650,000,000			14042BAA4
Capital One Capital IV			6.745% Capital Securities			$500,000,000			140422AA4
Capital One Capital V			10.25% Cumulative Trust Preferred Securities			$1,000,000,000			14043CAB9
Capital One Capital VI			8.875% Cumulative Trust Preferred Securities			$1,000,000,000			14043DAB7
Coastal Capital Trust II			Floating Rate Preferred Securities			$10,000,000			190430AA6

The following Securities will be redeemed pursuant to redemption provisions relating to optional redemption, at a price equal to 100% of the aggregate liquidation amount of such Securities, plus accrued and unpaid distributions thereon to the date of redemption:

Trust			Security			Amount			CUSIP
Capital One Capital II			7.50% Enhanced Trust Preferred Securities			$345,000,000			14041L204

The following Securities will be redeemed pursuant to redemption provisions relating to optional redemption, at a price equal to 101.9035% of the aggregate liquidation amount of such Securities, plus accrued and unpaid distributions thereon to the date of redemption:

Trust			Security			Amount			CUSIP
North Fork Capital Trust II			8.00% Capital Trust Pass-Through Securities			$100,000,000			659437AA5

The following Securities will be redeemed pursuant to redemption provisions relating to optional redemption, at a price equal to 102.451% of the aggregate liquidation amount of such Securities, plus accrued and unpaid distributions thereon to the date of redemption:

Trust			Security			Amount			CUSIP
Reliance Capital Trust I			8.17% Capital Securities			$45,000,000			759454AC5
									759454AB7

The complete terms and conditions of the redemption are as set forth in a notice to holders of the Securities.

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