Capital One and Junior Achievement Team Up To Teach Newark-Area Teens Money Management Skills

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Innovative Mobile Program Shows Students How to Budget, Save and Invest

The hands-on financial education provided at Capital One/Junior Achievement Finance Park™ helps students succeed now and as adults by giving them practical money-management skills.

Capital One Financial Corporation (NYSE:COF) and Junior Achievement of New Jersey have brought Capital One/Junior Achievement Finance Park™, an innovative mobile financial education program, to Newark-area middle schools. The program will teach basic money management skills to more than 1,000 local middle-school students.

The arrival of Finance Park to Newark will be marked by a reception tonight at 765 Broad Street, in Newark, where the mobile program will reside until mid-March. Confirmed attendees include Newark Mayor Cory Booker, Dr. Clifford B. Janey, Superintendent of Newark Public Schools, and Dr. Randal Pinkett, winner of "The Apprentice" and noted entrepreneur, philanthropist and author.

Capital One/Junior Achievement Finance Park begins with four weeks of in-classroom personal finance lessons developed by Junior Achievement. Students then have the opportunity to put their newly learned money management skills to the test. They spend a day at Finance Park, which houses a mock city where students experience the challenges of making real-life financial decisions.

While at Finance Park, the students are assigned fictional jobs, incomes, families, and expenses. They are then expected to develop and stick to appropriate budgets. Students are faced with real-life decisions about housing, furnishings, investments, food, entertainment, phone, cable, savings, and charitable contributions - the financial decisions they will ultimately make upon entering adulthood. More than 200 Capital One Bank associates from New Jersey will mentor the students along their financial journey at the Park.

"Basic money management skills are crucial building blocks for economic self-sufficiency, yet research shows that many students are unable to effectively manage their finances when they graduate from high school," said Catherine Milone Richards, president of Junior Achievement of New Jersey. "The hands-on financial education provided at Capital One/Junior Achievement Finance Park™ helps students succeed now and as adults by giving them practical money-management skills."

The first Capital One/Junior Achievement Finance Park™ began as a pilot in October 2006, in McLean, Va. The pilot was such a resounding success that the two organizations have since expanded the initiative to nine markets, and project serving 20,000 students this year.

"Our investment in Capital One/Junior Achievement Finance Park™ is more than just doing the right thing; it teaches students important skills that they can use for the rest of their lives," said Kirsten Micco, Market President for Hudson, Essex, and Union, Capital One Bank. "Our associates who volunteer at Finance Park are able to play a key role in encouraging financial literacy and economic opportunity. This is a unique and creative way to help youngsters become financially literate."

About Capital One
Capital One Financial Corporation (http://www.capitalone.com) is a financial holding company whose subsidiaries collectively had $109 billion in deposits and $147 billion in managed loans outstanding as of December 31, 2008. Headquartered in McLean, VA, Capital One has 738 locations primarily in New York, New Jersey, Texas, and Louisiana. Its principal subsidiaries, Capital One, N.A. and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

We apply the same principles of innovation, collaboration and empowerment in our commitment to our communities across the country that we do in our business. We recognize that helping to build strong and healthy communities - good places to work, good places to do business and good places to raise families - benefits us all and we are proud to support this and other community initiatives.

Capital One Bank has more than 70 branches in New Jersey, with two in the Newark area. In addition, earlier this year Capital One Bank opened a branch inside West Side High School in Newark, which is staffed by student interns. In addition to offering banking products and services, that branch is designed to teach financial education to its students, faculty and the greater community.

About Junior Achievement®
Junior Achievement is the world's largest organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, Junior Achievement provides in-school and after-school programs for students which focus on three key content areas: work readiness, entrepreneurship, and financial literacy. Today, 137 individual area operations reach more than four million students in the United States, with an additional five million students served by operations in 123 other countries worldwide. For more information, visit http://www.ja.org.

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Alicia Sankar
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