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Hibernia Corp,New Orleans, Louisiana & Capital One Financial Corp	Update Date: 12/19/08
Date Announced: 03/06/05
Value (million $USD): 4.86 billion U.S. Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	03/06/05
Date Originally Announced	03/06/05
Format	Merger	Acquisition techniques	Stock Swap
Attitude	Friendly	Agency	Unspecified Regulatory Auth.; Federal Banking Authority; State Banking Authority
Value	4.86 billion U.S. Dollar	Advisor Fees	Hibernia Corp (HC) agreed to pay JPMorgan a contingency fee equal to 0.24% of the aggregate consideration, less advisory and opinion fee of $3 mil, upon consummation of the merger. HC agreed to pay Bear Stearns & Co an opinion fee of $2 mil and a contingency fee of $2.24 mil, upon consummation of the merger.

SYNOPSIS

US - Capital One Financial Corp (CO) acquired Hibernia Corp, New Orleans, Louisiana (HC), in a stock swap transaction valued at an amended $4.861 bil. CO offered a choice of $13.95 in cash or 0.2055 common share per HC share, whereby shareholders may elect to receive cash or common shares. Originally, CO offered $15.35 in cash and 0.2261 common share per HC share. Based on CO's closing stock price of March 4, the last full trading day prior to the announcement, each HC share was valued at $33.00. The transaction was duly approved by the board of both companies and was subject to HC shareholder and regulatory approval.

TARGET
Name	Hibernia Corp,New Orleans, Louisiana (HIB)
Industries	Offices of bank holding companies
City	New Orleans
State	LA
Nation	United States
Incorporated in	LA
Public Status	Public
Business Description	Bank holding company
Advisors	JP Morgan Securities Inc; Bear Stearns & Co Inc
Target Sales	1.58 billion U.S. Dollar

ACQUIROR
Name	Capital One Financial Corp (COF)
Industries	Short-term business credit institutions; Offices of bank holding companies
City	Mclean
State	VA
Nation	United States
Incorporated in	DE
Public Status	Public
Business Description	Capital One Financial Corp, located in Mclean, Virginia, provides business and personal credit card services, credit card loaned, and certain consumer lending and deposit services. The company operates in four segments: US card, auto finance, global financial services, and banking. It is also a bank holding company. It company was founded in
Advisors	Credit Suisse First Boston Corp
Acquiror Sales	10.45 billion U.S. Dollar

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