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PeopleFirst.com Named Preferred Online Auto Financing Provider for Sallie Mae Value-Added Web Portal, SUCCESS by Sallie Mae

SAN DIEGO, April 8 -- PeopleFirst.com, America's largest online vehicle lender and a wholly owned subsidiary of Capital One Financial Corp. , has reached an agreement with SLM Corp. , commonly known as Sallie Mae, to be the preferred online auto financing provider for its consumer finance-oriented Web site, SUCCESS by Sallie Mae, available at www.success.salliemae.com . The relationship follows a successful test program that demonstrated strong consumer interest in PeopleFirst's wide range of products and services.

Sallie Mae is the nation's leading source of funding and servicing support for education loans. The company's SUCCESS by Sallie Mae initiative offers a variety of consumer finance products from trusted partners, ranging from auto loans to home mortgages to life insurance.

"Sallie Mae has enabled more than 10 million Americans to pursue their higher-education goals," said Brian Reed, President of PeopleFirst.com. "We think that Sallie Mae's well-educated, financially savvy customers will have an affinity for the value, convenience and purchasing power provided by PeopleFirst."

"As part of our ongoing effort to expand upon the benefits we offer our customers, SUCCESS by Sallie Mae brings relevant, specially priced products and services from brand-name companies to our borrowers throughout their lifetime," said Mark Overend, senior vice president of e-commerce for Sallie Mae. "We are pleased to add PeopleFirst's convenient and affordable offerings to the outstanding values we provide to our customers."

About PeopleFirst.com

PeopleFirst's fast response, outstanding customer service, and Blank Check(R) lending process deliver loans at competitive low rates, which saves money and helps consumers streamline the entire vehicle purchasing process. PeopleFirst.com ( www.peoplefirst.com ), a wholly owned subsidiary of Capital One Financial Corp. , originates and services consumer auto, truck and motorcycle loans primarily via the Internet. The company is the pioneer of the Blank Check(R), an innovative finance option that gives loan recipients a no-obligation Blank Check(R) that can be used for the purchase of a new/used vehicle from a dealership or private individual. PeopleFirst also provides financing for lease buyouts and the refinancing of existing vehicle loans.

About Sallie Mae

SLM Corporation , commonly known as Sallie Mae, is the nation's leading provider of education funding, managing more than $78 billion in student loans for more than seven million borrowers. The company primarily provides federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP), and offers comprehensive information and resources to guide students, parents and guidance professionals through the financial aid process. Celebrating its 30th anniversary this year, the company opened its doors in May 1973 as a government-sponsored enterprise (GSE) called the Student Loan Marketing Association, and began the privatization process in 1997. Since then, Sallie Mae's parent company name has changed, most recently to SLM Corporation (effective May 17, 2002). Through its specialized subsidiaries and divisions, the company also provides an array of consumer credit loans, including those for lifelong learning and K-12 education, and business and technical outsourcing services for colleges and universities. SLM Corporation and its subsidiaries, other than the Student Loan Marketing Association, are not sponsored by or agencies of the United States.