American Banker to Honor Capital One CEO Richard Fairbank with 2006 Banker of the Year Award

The editors of American Banker will honor Richard D. Fairbank, founder, chairman and CEO of Capital One Financial Corp., (NYSE:COF) with the American Banker 2006 Banker of the Year Award at a gala dinner at New Yorks Pierre Hotel on Thurs., November 30th.

For Capital One, 2006 has been a culminative year. In that period, the company confirmed its status as a rare surviving independent from the once-booming class of credit card monolines. In addition, by diversifying its balance sheet, it engineered its own entry into the banking industrys top 20. Capital Ones accomplishment acknowledges not merely assets but also strategy, influence, and brand power.

Its hard to find a company that has made as much progress in truly diversifying itself in as little time, said David Longobardi, editor-in-chief of American Banker. The past few years have been a tough time for consumer finance companies and those pressures arent easing. In that context, Capital Ones achievement looms even larger.

At a time when monoline consumer finance companies faced heightened regulatory scrutiny and confronted serious balance sheet difficulties, Rich Fairbank opted to transform his. The company tripled assets in just three years. As part of the process, Capital One acquired Hibernia and agreed to acquire North Fork. This addition of regional and portfolio diversity will provide greater stability, particularly given the considerable commercial businesses those deals bring.

Through it all, the company has solidified and extended its brand with the award-winning Whats in Your Wallet ad campaign.

During his 25 years in banking Fairbank has played a central role in a visionary organization whose innovations have transformed lending practices in the credit card industry and made credit more accessible to more people. Early in his career Fairbank developed the idea that would ultimately become Capital Ones hallmarkusing information to integrate traditionally separate functions of marketing, credit, risk operations and technologyto offer financial services tailored to fit each customers individual needs.

Founded in 1836, American Banker is the award-winning daily newspaper for the financial services industry. Its annual Banker of the Year Awards honor the individuals who set the highest standards of progress, innovation, and performance in the banking and financial services industry. Fairbank will be among seven industry leaders saluted at this years gala. The other awards include Lifetime Achievement, Community Banker of the Year, and Innovator of the Year.

Previous Banker of the Year honorees include: Ken Thompson, chairman, president and CEO, Wachovia (NYSE:WB); Jamie Dimon, president and CEO, J.P. Morgan Chase & Co. (NYSE:JPM); Richard M. Kovacevich, chairman and CEO, Wells Fargo & Co. (NYSE:WFC); Kenneth D. Lewis, chairman and CEO, Bank of America (NYSE:BAC); and Kerry Killinger, chairman, president and CEO, Washington Mutual (NYSE:WM).

For information on attending or sponsorship opportunities, please contact Kim Gantz Wexler at (212) 803-6065.

About American Banker and SourceMedia, Inc.

For 170 years, American Banker, www.americanbanker.com, has been the banking and financial services industry premier daily source of information, news, and analysis. American Banker is a daily newspaper that provides news and analysis to the banking and financial services industry. It is distributed across the country to executives of large and small banks alike. With a readership of more than 77,000, the publication covers topics including national and global issues, mortgages, consumer finance, legislation, investment products, card, and payment systems and technology.

SourceMedia, an Investcorp company, is the pre-eminent provider of timely and essential market information -- including industry news, analysis, research, and insights -- for members of the financial services community, as well as related fields such as accounting and technology. Through its comprehensive library of professional publications, suite of industry-standard data applications, and in-depth seminars and conferences, SourceMedia offers its clients and subscribers a sophisticated range of products and services.

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