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Capital One Expands Support of RIF Family Literacy Program in Washington Area

WASHINGTON—September 10, 2007—With support from Capital One Financial Corporation, Reading Is Fundamental, Inc. (RIF) is expanding its family reading program and accepting applications from organizations serving educationally-at risk children in the Washington area.

RIF's Family of Readers program helps parents develop the skills and self-assurance to take a leading role in supporting their young children's reading and learning while their children learn to love books. Each program has a lending library, which allows parents and children to borrow a wide selection of children’s books to read at home.

"Thanks to Capital One's generous support, RIF's Family of Readers program serves nearly 28,000 children and parents nationally and nearly 400 in the Washington area," said Carol H. Rasco, president and CEO of RIF. 

Over the course of the year-long program, parents learn about children’s books and participate in workshops on such topics as how to read aloud to children and plan reading motivational activities. 

Even Start Multicultural Family Literacy Program is one of the local RIF Family of Readers programs started last year. Even Start Multicultural serves the immigrant community living in Washington by providing free English, computer, and parenting classes for adults, and weekly interactive PACT (Parents And Children Together) sessions. Additionally, Even Start Multicultural has a quality early childhood education program for the infants, toddlers, and preschool children of the adult students. 

During the 2006-2007 school year, 188 parents and 376 children were able to participate in the RIF program at Even Start Multicultural. 

"The RIF Family of Readers program is an excellent complement to our family literacy program because the goals and objectives are so closely aligned with our own," said Krista Bergey, early childhood assessments coordinator. "RIF and Capital One's support enabled us to provide quality multi-lingual books and other resources to families who previously had limited access to quality literacy materials in the home."

In 2005, Capital One announced a three-year $1.25 million grant to RIF to support its Family of Readers program. Through these funds, RIF has begun new programs in such markets as Washington, Houston, Dallas, San Antonio, and New Orleans. 

"Education remains one of the most important investments we can make in our children and communities," said Carolyn Berkowitz, Capital One's vice president, community affairs. "We are pleased to support this RIF program because it improves educational outcomes for thousands of children and their families."

To learn more about RIF Family of Readers or to apply for enrollment into the program, please visit www.rif.org or call 1-800-RIF-Read.

Reading Is Fundamental, Inc. (RIF), founded in 1966, motivates children to read by working with them, their parents, and community members to make reading a fun and beneficial part of everyday life. RIF’s highest priority is reaching underserved children from birth to age 8. Through community volunteers in every state and U.S. territory, RIF provides 4.6 million children with 15 million new, free books and literacy resources each year. For more information and to access reading resources, visit RIF’s website at www.rif.org.

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About Capital One
Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a financial holding company, with more than 720 locations in New York, New Jersey, Connecticut, Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One, F.S.B., Capital One Auto Finance, Inc., Capital One, N.A., and North Fork Bank offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One's subsidiaries collectively had $87.7 billion in deposits and $142.0 billion in managed loans outstanding as of March 31, 2007. Capital One, a Fortune 500 company, trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index. 

Layla Wright-Contreras,
Media Relations Manager
202-536-3528

Capital One Expands Support of RIF Family Literacy Program in Washington Area