McLEAN, Va. and DETROIT — Capital One Financial Corp. and
General Motors extended their relationship that can help consumers earn rewards
toward the purchase or lease of a vehicle.

The companies along with MasterCard announced a multi-year
extension of their co-brand card partnership and the launch of the new GM Card
from Capital One.

The new GM Card from Capital One comes with no annual fee
and offers no limits on the rewards consumers can accumulate and redeem toward
the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.

In addition, officials said rewards don't expire and as with
all other Capital One credit cards, there are no foreign transaction fees.

Consumers can generate 5 percent earnings on their first
$5,000 worth of net card purchases annually and an unlimited 2 percent on all
other purchases.

"We are very excited about the new GM Card from Capital One
and value the commitment of our strategic partners to offer best-in-class
products to our customers," said Bill Cilluffo, executive vice president of
card partnerships at Capital One.

"Consumers told us they wanted a straightforward way to earn
greater benefits than their current auto rewards card. Together, in partnership
with General Motors, we have set a new standard in this category, and are
providing a better solution for consumers to plan for and save toward their
next new Chevrolet, Buick, GMC, or Cadillac vehicle," Cilluffo continued.

Since its launch in 1992, GM Card Earnings have been
redeemed toward the purchase of nearly 7 million new GM cars, trucks, SUVs and
crossovers.

With the launch of the new card, Capital One and GM believe
consumers can obtain and enjoy one of the richest automotive rewards credit
cards available.

"Our customers have never had a better or bigger lineup of
new Chevrolet, Buick, GMC and Cadillac models to choose from to meet their
needs," said Chuck Thomson, general manager of GM retail sales and marketing
support.

"We are introducing 27 new or refreshed cars, trucks and
SUVs in 2013 and 2014 — an average of one per month — and the new GM Card is
the key for customers to put one in their driveways," Thomson went on to say.

To learn more about the new GM Card from Capital One, visit
www.gmcard.com.

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