Boydstun Appointed and Shipp Reappointed to the Federal Reserve Bank of Atlanta’s New Orleans Branch Board of Directors

For immediate release: Jan. 12, 2006

Herb Boydstun, president of the banking segment of Capital One Financial Corp. and a member of Capital One’s executive committee, has been appointed to the board of directors of the Federal Reserve Bank of Atlanta’s New Orleans Branch. Earl Shipp, business vice president of Dow Oxides and Glycols at The Dow Chemical Co., has been reappointed to the Atlanta Fed’s New Orleans Branch board of directors. Their terms began Jan. 1, 2006, and run through Dec. 31, 2008.

Boydstun joined Capital One in November 2005 when Hibernia Corp., for which he served as president and chief executive officer, merged into Capital One. Boydstun worked at First Bancorp of Louisiana for 17 years and was serving as chairman when First Bancorp merged with Hibernia in 1994. At Hibernia, Boydstun began as northeast regional chairman and later became southwest regional chairman. In June 2000 he was named chief community banking executive with responsibility for Hibernia’s community banking markets. In December 2000 he was appointed president and chief executive officer. He had been a member of the company’s board of directors since 1994.

Boydstun received a bachelor’s degree from the University of Mississippi in 1969 and a master’s degree from Louisiana State University in 1972. He also is a 1979 graduate of the School of Banking of the South at Louisiana State University.

Shipp joined Dow in 1981, after an intern assignment with Dow in Michigan and Texas. Between 1981 and 1985, he held several manufacturing positions, including an assignment in Japan. Since 1985, he has held several leadership positions and in 2000 was named to the dual roles of vice president and site director of Dow’s Louisiana operations and global operations director of the propylene oxide/propylene glycol business. He was named to his current position in 2004. He is a member of the St. Mary’s of Michigan Hospital Board of Directors. While in Louisiana, he was a member of the executive committee of the Greater Baton Rouge Area Chamber of Commerce and chaired the Petro-Chemical Sector Economic Development Council.

Shipp holds a biochemistry degree from Cass Technical High School, a chemical engineering degree from Wayne State University in Michigan and is a graduate of the Indiana University Business School Consortium.

Federal Reserve Bank of Atlanta branch directors provide economic information from the branch territory to the district Bank’s president and head office directors, who use the information in formulating monetary policy and making discount rate recommendations. Boydstun was appointed by the Atlanta head office directors. Shipp was appointed by the Federal Reserve Board of Governors in Washington, D.C. The Board of Governors appoints three of the directors of the New Orleans Branch, and the Atlanta head office directors appoint four.

Contact: Jean Tate 404-498-8035