Hibernia Reports Third-Quarter Net Loss of 37 Cents Per Share, Reflecting Provision Expense Related to Hurricanes

            Company Is Well-Positioned to Serve as a Leader
                       in the Rebuilding Efforts

   Hibernia Corporation (NYSE: HIB) today reported a net loss for
third-quarter 2005 of $58.1 million, compared with net income of $76.5
million a year earlier. The net loss per common share and net loss per
common share assuming dilution for third-quarter 2005 were $0.37,
compared to earnings per common share (EPS) and EPS assuming dilution
of $0.50 and $0.49, respectively, a year earlier. Results reflect the
impact of hurricanes Katrina and Rita on Hibernia and a significant
portion of its footprint, including the New Orleans area, southwest
Louisiana and southeast Texas.
   For the first nine months of 2005, net income was $107.1 million,
down from $215.8 million a year earlier. EPS and EPS assuming dilution
for the first nine months of 2005 were $0.68 and $0.67, respectively,
down from $1.40 and $1.37 a year earlier. Results for the first nine
months of the year also reflect Hibernia's merger with Coastal
Bancorp, Inc., parent of a $2.7-billion-asset Texas savings bank,
which became effective May 13, 2004.
   Costs incurred in third-quarter 2005 relating to the hurricanes
totaled approximately $197.7 million, including the following:

   --  A charge of $175 million to provision expense directly related
        to the hurricanes. This expense was established based on
        management's best estimate of the hurricanes' impact on the
        loan portfolio using currently available information. Because
        it is too early to determine with certainty the full extent of
        the impact, the estimate is based on judgment and subject to
        change in either direction. Management will continue to
        carefully assess and review the exposure of the loan portfolio
        to hurricane-related factors.

   --  Capitalized costs of $11.5 million necessitated by disruption
        caused by the hurricanes. These costs were for purchases of
        information-technology equipment and office furniture, as well
        as other facility enhancements to accommodate displaced
        employees. These costs are not included in third-quarter 2005
        operating results.

   --  Property damage of $34.3 million, of which approximately $25.1
        million is expected to be covered by insurance proceeds.

   --  Additional expenses - including employee assistance,
        marketing, data processing and others - of approximately $2.0
        million that exceeded expected insurance coverage.

   In addition, third-quarter 2005 results were impacted by a
reduction in revenue resulting from the waiver of certain fees and
service charges to businesses and consumers in hurricane-impacted
areas, as well as economic disruption in those markets.
   The third-quarter 2005 provision for loan losses was $197.0
million, compared to $12.3 million a year earlier. The reserve for
loan losses was $402.2 million at Sept. 30, 2005, up 71% from $235.2
million a year earlier and up 77% from June 30, 2005. The reserve for
loan losses at the end of the third quarter represents 2.45% of total
loans, up from 1.52% a year earlier and 1.42% at the end of
second-quarter 2005.
   "Katrina, the country's largest natural disaster, and Rita, a
powerful Category 4 storm that caused extensive damage, combined to
significantly impact the communities we serve and our business in the
third quarter," said President and CEO Herb Boydstun. "The world has
witnessed the unprecedented one-two punch of these fierce hurricanes
and the pain they have inflicted on the people of the Central Gulf
Coast. Greater New Orleans and many other communities served by
Hibernia have been severely impacted by the evacuation of large
portions of the population, widespread property damage and the
disruption caused by these factors on the operations and
revenue-generating capacity of local businesses and government.
   "Still, these hurricanes did not damage the spirit of our people
or of the affected communities, where the determination to restore and
rebuild is very strong," Boydstun added. "For more than 135 years, our
bank has been an important partner for consumers and businesses,
providing products, services and expertise to help them achieve their
financial goals and realize their dreams. We are well-capitalized, as
reflected in our leverage ratio, and we are recognized as a leading
corporate citizen throughout the region we serve. Now, in the
aftermath of Katrina and Rita, our communities need us more than ever,
and we are here for them."
   Boydstun pointed out that Hibernia has taken, and continues to
take, decisive action on a number of fronts to help customers,
employees and communities as a whole during this difficult time. "Our
employees are putting forth a tremendous effort to meet the needs of
clients and co-workers," he said. "We are particularly proud of the
teamwork displayed by our displaced employees and their colleagues in
undamaged markets as they effectively handle an enormous increase in
customer traffic at branches visited by thousands of people who have
evacuated."

   Hibernia: A Leader in the Rebuilding Effort

   Hibernia responded in several ways to meet the needs of
individuals and businesses affected by Katrina and Rita, including:

   --  Loan Payments. Automatic deferment of consumer and certain
        small-business loan payments until January 2006 for customers
        in impacted areas.

   --  Mortgage Payments. Up to three months of suspended payments on
        first mortgages held by Hibernia for qualified customers in
        impacted areas. Up to 18 months of temporary forbearance on
        first mortgages held by Hibernia also may be available to
        repay suspended payments.

   --  Fee Waivers. Waiver of certain fees and service charges for
        customers from hurricane-impacted markets. This included
        waiver of Hibernia's ATM fees when customers used a
        non-Hibernia ATM and waiver of charges related to insufficient
        funds in checking accounts during periods following the
        hurricanes.

   The regions impacted by Katrina and Rita are expected to see a
significant increase in residential construction and renovations in
the months and years to come. "Tens of thousands of homes will need to
be repaired or rebuilt, and Hibernia is well-positioned to provide
financing for this massive effort," said Paul Peters, president of
mortgage banking for Hibernia. "Hibernia has mortgage-loan production
offices conveniently located in all major hurricane-affected markets
in Louisiana, as well as in Texas and on the Mississippi Gulf Coast."
Hibernia has been Louisiana's residential mortgage leader for nine
consecutive years, according to the Mortgage Bankers Association of
America.
   Hibernia is working diligently with Fannie Mae, Freddie Mac and
other housing-finance organizations on the development of innovative
home ownership and renovation programs for people in
hurricane-impacted markets. "Restoring homes and bringing back
neighborhoods are the catalyst for getting businesses to re-open and
for the economy to get back on track," said Peters. "We've been in
constant contact with all of these housing agencies, working as a team
to provide the resources and loan programs necessary to make a
positive difference in this massive recovery effort."

   Business Continuity Program Minimizes Disruption

   In advance of both hurricanes, Hibernia activated a comprehensive
business continuity action program that minimized, and in some cases
prevented, disruption of the company's most critical systems and
processes. "Given the magnitude of these two storms -- which caused
widespread property damage, extensive flooding and power outages --
our business continuity program has performed well and succeeded in
its goal of minimizing disruption of service to customers," said
Boydstun.
   Hibernia has made significant progress in reopening locations and
restoring operations in areas affected by the two hurricanes. Of
Hibernia's 326 locations in Louisiana and Texas, only 37 remained
closed as of Oct. 20. Of those 37 locations, 26 remained closed
primarily due to varying degrees of damage from the hurricanes. Most
of the bank's locations in Jefferson Parish, which borders New Orleans
to the west, have reopened. Offices are now open in the French
Quarter, Uptown and Algiers sections of New Orleans. Hibernia is
assessing areas of hurricane-impacted regions that suffered damage and
plans to return to those that are redeveloping.

   Summary of Financial Performance

   Loans at Sept. 30, 2005, were $16.4 billion, up 6% from $15.5
billion a year earlier. Loans to consumers and businesses considered
impacted by the hurricanes accounted for approximately 40% of total
loans at Sept. 30, 2005.
   Deposits at Sept. 30, 2005, totaled $18.5 billion, up 10% from
$16.7 billion a year earlier. Deposits to consumers and businesses
considered impacted by the hurricanes accounted for more than half of
total deposits at Sept. 30, 2005.
   Net interest income for third-quarter 2005 totaled $191.6 million,
virtually unchanged from $191.8 million a year earlier.
   The third-quarter 2005 net interest margin was 3.69%, down 21
basis points from 3.90% a year earlier. The decline reflects a
$5.0-million adjustment to the dealer reserves for automobile
financing, resulting from the estimated impact of early termination of
automobile loans as a result of hurricane damage to those vehicles.
The adjustment negatively impacted the third-quarter 2005 margin by 10
basis points.
   Third-quarter 2005 noninterest income totaled $102.8 million, down
1% from a year earlier. Included in third-quarter 2005 was a 3%
decrease in service charges on deposits. The decline resulted mainly
from the company's decision to waive certain fees and service charges
- including the previously mentioned ATM fees and charges related to
insufficient funds in checking accounts - following the hurricanes to
help customers and businesses affected by disruption from the
disasters.
   Noninterest expense for third-quarter 2005 totaled $185.0 million,
up 11% from $166.4 million a year earlier. Included in third-quarter
2005 is $2.9 million in salaries and benefits expenses consisting
primarily of disaster-relief grants for employees affected by the
hurricanes. In the aftermath of the hurricanes, the company has
provided financial assistance to help employees with temporary housing
and other living expenses, which also contributed to the increase in
noninterest expense in third-quarter 2005. Advertising and promotional
expense associated with the hurricanes totaled $2.8 million in
third-quarter 2005, reflecting the company's efforts to announce
assistance programs, branch re-openings, special services and products
to customers and employees. In third-quarter 2005, data processing
expenses associated with the hurricanes totaled $1.3 million.
Third-quarter 2005 noninterest expense excludes the previously
mentioned $11.5 million of capitalized costs necessitated by the
hurricane disruption as the company activated its business continuity
program and transferred operations to data back-up sites.

   Asset quality

   Asset-quality results for third-quarter 2005 include the
following:

   --  Net charge-offs were $21.9 million, up 81% from $12.1 million
        for third-quarter 2004. The increase was due primarily to
        charge-offs related to two borrowers in the commercial
        portfolio. The increase includes $3.8 million of overdraft net
        charge-offs in third-quarter 2005. Effective first-quarter
        2005, overdraft net charge-offs are charged to the reserve for
        loan losses.

   --  The net charge-off ratio was 0.54%, compared to 0.31% a year
        earlier. By category, net charge-off ratios were: consumer,
        0.53%, compared to 0.44%; commercial, 0.65%, compared to a net
        recovery of 0.06%; and small-business, 0.45%, compared to
        0.41%. Overdraft net charge-offs contributed nine basis points
        to the net charge-off ratio and 14 basis points to the
        consumer net charge-off ratio.

   --  Nonperforming assets at Sept. 30, 2005, were $111.8 million,
        compared to $75.7 million a year earlier; nonperforming loans
        were $103.6 million, compared to $64.3 million. The increases
        were due primarily to the transfer to nonperforming loans of
        several large credits in the commercial portfolio that were
        impacted by the hurricanes.

   --  The nonperforming asset ratio at Sept. 30, 2005, was 0.68%,
        compared to 0.49% a year earlier; the nonperforming loan ratio
        was 0.63%, compared to 0.41%.

   --  Loan delinquencies increased to approximately $300 million, or
        almost 2% of loans at Sept. 30, 2005, compared to $60 million,
        or 0.4% of loans at June 30, 2005, and $65 million, or 0.4% of
        loans at Sept. 30, 2004. Delinquencies for third-quarter 2005
        were negatively affected by continuing payment interruptions
        and the short-term disruption of the collections area during
        the hurricanes.

   --  Reserve coverage of nonperforming loans at Sept. 30, 2005, was
        388%, compared to 366% a year earlier.

   Texas Branch Expansion Continues

   Despite the challenges and focus on hurricane issues, Hibernia
opened five Texas de novo locations during the first month of the
hurricane recovery period, and the company expects to open six more
before the end of the year - three in Dallas-Fort Worth and three in
Houston. In addition, Hibernia expanded its Texas presence to San
Antonio, where it opened a commercial banking office.

   Additional Information

   Other financial results at Sept. 30, 2005, compared to a year
earlier, include the following:

   --  Assets: $23.2 billion, up 9% from $21.4 billion.

   --  Leverage ratio: 7.86%, compared to 7.46%.

   For supplemental financial tables, go to
www.hibernia.com/earnings.

   Hibernia's merger into Capital One Financial Corporation is
scheduled to close two business days following the Nov. 14, 2005,
special meeting of Hibernia shareholders to vote upon the amended
merger agreement. The merger is subject to Hibernia shareholders'
approval of the amended agreement and the effectiveness of all
necessary regulatory approvals.
   Proxy packages for the special meeting have been mailed. Hibernia
shareholders who have not received their package should call Mellon
Investor Services at 1-800-814-0305 for a duplicate proxy package. The
deadline for shareholders to submit their vote by proxy (by telephone
or Internet) is Nov. 13, so shareholders who have not received their
package should not delay in calling about a duplicate package.
   Merger Consideration Election packages allowing shareholders to
choose the type of consideration they prefer to receive if the merger
of Hibernia and Capital One Financial Corporation is completed also
have been mailed. Shareholders who have not received a Merger
Consideration Election package should call Computershare at
1-866-469-6745 for a duplicate merger consideration package. The
deadline for submitting merger consideration elections is Nov. 11, so
shareholders should not delay in calling about a duplicate package if
one is needed.
   Voting and merger consideration instruction forms have been mailed
to participants in the company's Employee Stock Ownership Plan (ESOP),
Retirement Security Plan (RSP) or both. Participants in the plans who
have not received that package should call Mellon Investor Services at
1-800-814-0305 for duplicate Voting Instruction Forms and at
1-888-867-6202 for duplicate Merger Consideration Instruction Forms.
The deadline to submit these ESOP/RSP forms is Nov. 7, so participants
in the plans should not delay in calling about a duplicate package if
they do not receive their package.
   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 $23.2 billion in assets and
326 locations in 34 Louisiana parishes and 36 Texas counties. Hibernia
Corporation's common stock (HIB) is listed on the New York Stock
Exchange.

   Additional Information About the Capital One Transaction

   In connection with the proposed merger, Capital One has filed with
the SEC a post-effective amendment to its Registration Statement on
Form S-4 that includes a new proxy statement of Hibernia that also
constitutes a prospectus of Capital One, and has filed a definitive
proxy statement/prospectus with the SEC. Hibernia has mailed the
definitive proxy statement/prospectus to its stockholders. Investors
and security holders are urged to read the definitive proxy
statement/prospectus regarding the proposed merger, because it
contains important information. You may obtain a free copy of the
definitive proxy statement/prospectus and other related documents
filed by Capital One and Hibernia with the SEC at the SEC's website at
http://www.sec.gov. The definitive proxy statement/prospectus and the
other documents also may be obtained for free by accessing Capital
One's website at http://www.capitalone.com under the tab "Investors"
and then under the heading "SEC & Regulatory Filings" or by accessing
the SEC homepage at www.SEC.gov.
   Capital One, Hibernia and their respective directors, executive
officers and certain other members of management and employees may be
soliciting proxies from Hibernia stockholders in favor of the merger.
Information regarding the persons who may, under the rules of the SEC,
be considered participants in the solicitation of the Hibernia
stockholders in connection with the proposed merger is set forth in
the definitive proxy statement/prospectus filed with the SEC. You can
find information about Capital One's executive officers and directors
in its definitive proxy statement filed with the SEC on March 21,
2005. You can find information about Hibernia's executive officers and
directors in its definitive proxy statement filed with the SEC on
March 15, 2005. You can obtain free copies of these documents from
Capital One and Hibernia using the contact information above.

   Forward-looking statements

   Information in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Any
forward-looking information is not a guarantee of future performance
and the actual results could differ materially from those contained in
the forward-looking information. Among the factors that could cause
actual results to differ materially are the following: the impact of
property, credit and other losses expected as the result of Hurricane
Katrina and Hurricane Rita; the amount of government, private and
philanthropic investment, including deposits, in the geographic
regions impacted by Hurricane Katrina and Hurricane Rita; the pace and
magnitude of economic recovery in the region impacted by Hurricane
Katrina and Hurricane Rita; the potential impact of damages from
future hurricanes and other storms; an increase or decrease in credit
losses (including increases due to a worsening of general economic
conditions); financial, legal, regulatory or accounting changes or
actions; changes in interest rates; general economic conditions
affecting consumer income, spending, repayments and savings; the
amount of, and rate of growth in, Hibernia's expenses (including
salaries and associate benefits and marketing expenses); Hibernia's
ability to execute on its strategic and operational plans; the costs
and effects of litigation and of unexpected or adverse outcomes in
such litigation; continued intense competition from numerous providers
of products and services which compete with Hibernia's business; the
risk that Hibernia stockholders may not approve the proposed
transaction with Capital One Financial Corporation; and various risks
associated with the proposed Capital One transaction in the event
Hibernia's shareholders approve the transaction and it is completed,
including: the ability of Capital One and Hibernia to recruit and
retain experienced personnel to assist in management and operations;
the risk that the businesses of Capital One and Hibernia will not be
integrated successfully; the risk that the cost savings and any other
synergies from the proposed transaction may not be fully realized or
may take longer to realize than expected; disruption from the proposed
transaction making it more difficult to maintain relationships with
customers, employees or suppliers; and other risk factors listed from
time to time in Hibernia's SEC reports, including, but not limited to,
the Quarterly Report on Form 10-Q for the quarter ended June 30, 2005.
-0-
*T

                               HIBERNIA
                         FINANCIAL INFORMATION
                              (Unaudited)

----------------------------------------------------------------------
SUMMARY OF OPERATIONS                  QUARTER ENDED                  
                      ------------------------------------------------
($ in thousands,      Sept. 30  Sept. 30            June 30           
 except per-share        2005      2004    CHANGE     2005    CHANGE  
 data)                --------- ---------  ------  ---------  ------  

Interest income       $302,612  $261,558      16%  $296,125       2%  
Interest expense       111,053    69,719      59     96,110      16   
                      --------- ---------          ---------          
  Net interest income  191,559   191,839       -    200,015      (4)  
Provision for 
 loan losses           197,000    12,250     N/M     14,000     N/M   
                      --------- ---------          ---------          
  Net interest income 
   after provision      (5,441)  179,589    (103)   186,015    (103)  
                      --------- ---------          ---------          
Noninterest income:
 Service charges 
  on deposits           46,434    48,115      (3)    51,561     (10)  
 Card-related fees      18,062    15,994      13     17,718       2   
 Mortgage banking        5,287     5,701      (7)     4,923       7   
 Retail investment 
  fees                   5,968     7,887     (24)     7,846     (24)  
 Trust fees              5,960     5,839       2      5,773       3   
 Insurance               4,931     4,808       3      5,496     (10)  
 Investment banking      6,829     5,017      36      5,602      22   
 Other service, 
  collection and
  exchange charges       5,386     5,585      (4)     6,343     (15)  
 Other operating 
  income                 3,987     4,992     (20)     5,960     (33)  
 Securities gains 
  (losses), net            (58)      153    (138)       527    (111)  
                      --------- ---------          ---------          
  Noninterest income   102,786   104,091      (1)   111,749      (8)  
                      --------- ---------          ---------          
Noninterest expense:
Salaries and 
 employee benefits      98,618    87,347      13     92,286       7   
Occupancy and 
 equipment              24,610    22,035      12     23,424       5   
Data processing         11,032     9,540      16      9,913      11   
Advertising and 
 promotional expense    11,202     8,350      34      8,698      29   
Stationery and 
 supplies, postage and
 telecommunications      6,985     7,318      (5)     7,318      (5)  
Amortization of 
 purchase accounting 
 intangibles             1,621     1,904     (15)     1,670      (3)  
Foreclosed property 
 expense, net             (317)     (493)     36         22     N/M   
Other operating 
 expense                31,233    30,350       3     30,940       1   
                      --------- ---------          ---------          
  Noninterest expense  184,984   166,351      11    174,271       6   
                      --------- ---------          ---------          
Income (loss) before 
 income taxes and 
 minority interest     (87,639)  117,329    (175)   123,493    (171)  
Income tax expense 
 (benefit)             (29,632)   40,823    (173)    44,025    (167)  
Minority interest, 
 net of income taxes       123        40     208         33     273   
                      --------- ---------          ---------          
Net income (loss)     ($58,130)  $76,466    (176)%  $79,435    (173)% 
                      ========= =========          =========          

Net income (loss) 
 per common share       ($0.37)    $0.50    (174)%    $0.51    (173)% 
Net income (loss) 
 per common share -
 assuming dilution      ($0.37)    $0.49    (173)%    $0.50    (172)% 
Return on average 
 assets                  (1.04)%    1.44%   (248)bp    1.44%   (248)bp
Return on average 
 equity                 (10.93)%   16.40% (2,733)bp   15.64% (2,657)bp





----------------------------------------------------------------------
SUMMARY OF OPERATIONS                         NINE MONTHS ENDED
                                        ------------------------------
($ in thousands, except                 Sept. 30   Sept. 30         
per-share data)                            2005       2004    CHANGE
                                        ---------  ---------  ------

Interest income                         $882,313   $729,497     21%
Interest expense                         292,091    174,695     67
                                        ---------  ---------
  Net interest income                    590,222    554,802      6
Provision for loan losses                226,700     36,250    525
                                        ---------  ---------
  Net interest income after provision    363,522    518,552    (30)
                                        ---------  ---------
Noninterest income:
 Service charges on deposits             147,850    133,637     11
 Card-related fees                        52,360     43,844     19
 Mortgage banking                         14,841     28,792    (48)
 Retail investment fees                   22,477     23,723     (5)
 Trust fees                               17,510     17,892     (2)
 Insurance                                15,213     14,381      6
 Investment banking                       20,291     12,454     63
 Other service, collection and
  exchange charges                        17,446     16,210      8
 Other operating income                   18,419     14,964     23
 Securities gains (losses), net            1,664    (20,387)   108
                                        ---------  ---------
     Noninterest income                  328,071    285,510     15
                                        ---------  ---------
Noninterest expense:
 Salaries and employee benefits          284,131    248,242     14
 Occupancy and equipment                  71,179     61,326     16
 Data processing                          31,071     28,791      8
 Advertising and promotional expense      29,544     24,431     21
 Stationery and supplies, postage and
  telecommunications                      21,823     21,316      2
 Amortization of purchase accounting
  intangibles                              5,034      4,616      9
 Foreclosed property expense, net        (14,789)      (708)   N/M
 Other operating expense                  96,288     84,198     14
                                        ---------  ---------
     Noninterest expense                 524,281    472,212     11
                                        ---------  ---------
Income (loss) before income taxes 
 and minority interest                   167,312    331,850    (50)
Income tax expense (benefit)              60,323    115,942    (48)
Minority interest, net of income taxes       (92)        71   (230)
                                        ---------  ---------
Net income (loss)                       $107,081   $215,837    (50)%
                                        =========  =========

Net income (loss) per common share         $0.68      $1.40    (51)%
Net income (loss) per common share -
 assuming dilution                         $0.67      $1.37    (51)%
Return on average assets                    0.64%      1.44%   (80)bp
Return on average equity                    6.99%     15.73%  (874)bp
*T