Hibernia Announces Loan Deferral Payment Arrangement for Consumer, Small-Business and Mortgage-Banking Customers Impacted by Hur

Hibernia (NYSE:HIB) has made the following arrangements
for the extension of consumer, small-business and mortgage-banking
loan payments:

   --  For Hibernia consumer borrowers in Louisiana and Mississippi
        zip codes beginning with 700, 701, 703, 704, 394, 395 and 396,
        Hibernia will defer all payments on consumer loans and lines
        of credit until January 2006. This policy also will apply to
        all small-business loans and lines of credit up to $1 million.
        Individual hardship cases not addressed by this policy will be
        handled on an individual basis.

   --  All automatic deduction payments from checking accounts
        related to these loans will be suspended during the deferment
        period. If a borrower wishes to continue automatic deductions,
        payments cannot be deferred. All automatic deduction
        authorizations will be restored on Jan. 1, 2006.

   --  For Hibernia customers impacted by the hurricane whose
        residential first mortgages are held by Hibernia, the bank
        will suspend up to three months of first-mortgage payments.
        There will be no credit reporting on these accounts during
        this period. The bank also will grant up to 18 months of
        temporary forbearance to repay suspended payments, also with
        no credit reporting. Customers should contact their applicable
        mortgage servicer at 1-877-636-4008 or 1-877-636-4013 for
        details and arrangements. The Department of Housing and Urban
        Development instituted a moratorium on commencement and/or
        continuation of foreclosure action on homes in a federally
        declared disaster area for a period of 90 days from the date
        of the declaration. Also, government insured mortgages (FHA
        and VA loans) may also qualify for a variety of assistance
        options, including special forbearance, late-fee waiver,
        modification and refinance. The appropriate contact numbers
        above can guide customers through these processes.

   In addition, the bank has set up a customer emergency information
hotline. Customers who call 1-877-706-4233 will hear the latest update
on the status of Hibernia's customer service recovery efforts. The
hotline will be updated on a regular basis.

   Here is some additional important information for Hibernia
customers and employees:

   --  Due to the significant number of customers and employees
        displaced because of the storm, Hibernia is experiencing
        extremely high volumes in branches and call centers.

   --  The transfer of the bank's systems is still under way to
        back-up facilities in Dallas and Shreveport.

   --  Direct-deposit and automatic debits and credits are being
        processed and should be posted today.

   --  Online bill payments previously set up have been processed as
        scheduled. Online account access will be made available as
        soon as the backup sites are restored.

   --  Customers requiring federal assistance can visit FEMA.gov.
        Customers can locate routing numbers for direct deposit of
        relief funds at the bottom of checks and deposit slips.

   --  The U.S. Postal Service is rerouting mail that was addressed
        to Hibernia to other locations so the bank can process lockbox
        services for its commercial customers.

   Hibernia has set up a toll-free number so employees can ask
questions and receive guidance from the bank on a variety of issues
regarding the impact on them from the hurricane. To obtain this
special toll-free number, employees should call the bank's emergency
information line and listen to the message.
   Hundreds of employees from both the storm-impacted area and other
markets are currently working in unaffected areas to support their
colleagues, customers and communities.

   Hibernia is on Forbes magazine's list of the world's 2,000 largest
companies and Fortune magazine's list of America's top 1,000 companies
according to annual revenue. Hibernia has $22.1 billion in assets and
321 locations in 34 Louisiana parishes and 36 Texas counties.