<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 17, 1998
CAPITAL ONE MASTER TRUST
CAPITAL ONE BANK
(Exact name of registrant as specified in its charter)
Virginia 0 - 25762 54 - 1719855
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
11013 West Broad Street Road, Glen Allen, Virginia 23060
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code):
(804) 967-1000
(Former name or former address, if changed since last report):
Not Applicable
Page 1 of 35
<PAGE> 2
ITEM 5. OTHER EVENTS.
The January 1998 monthly Certificateholders Statements to
investors were distributed February 17, 1998.
During the fourth quarter of 1997 Capital One Bank ("Bank")
modified its methodology as to the timing of charge-offs of credit
card loans. The Bank now charges off credit card loans at 180 days
past-due versus the prior practice of charging off loans during
the next billing cycle after becoming 180 days past-due. For the
Capital One Master Trust (the "Trust"), this new methodology will
be implemented during the months of December 1997 with respect to
Principal Receivables and January 1998 with respect to Finance
Charge Receivables. For the December monthly period, this change
in methodology resulted in an additional increase of $40,961,451
in the Defaulted Amount and correspondingly an additional increase
of 4.88% in the annualized default rate for the Capital One Master
Trust. This increase reflects the charge-off of Principal
Receivables in December under the new methodology. In addition,
for each Series, Excess Spread will be reduced proportionately as
a result of the increased Defaulted Amount. In January 1998, this
new methodology will result in a decrease of approximately
$18,858,897 in the amount of Finance Charge Receivables,
reflecting the reversal of finance charges and fees previously
accrued for these Defaulted Accounts. Excess Spread for January
will also be reduced proportionately as a result of the decrease
in Finance Charge Receivables.
ITEM 7 (c). EXHIBITS
The following are filed as exhibits to this Report under Exhibit
20:
1. January Performance Summary
2. Series 1993 - 1 Class A and Class B Certificateholder's
Statements for the month of January 1998.
3. Series 1993 - 4 Class A and Class B Certificateholder's
Statements for the month of January 1998.
4. Series 1994 - 3 Class A and Class B Certificateholder's
Statements for the month of January 1998.
5. Series 1994-A Certificateholders' Statement for the month of
January 1998.
Page 2 of 35
<PAGE> 3
6. Series 1995-1 Class A and Class B Certificateholder's
Statements for the month of January 1998.
7. Series 1995-2 Class A and Class B Certificateholder's
Statements for the month of January 1998.
8. Series 1995-3 Class A and Class B Certificateholder's
Statements for the month of January 1998.
9. Series 1995-4 Class A and Class B Certificateholder's
Statements for the month of January 1998.
10. Series 1996-1 Class A and Class B Certificateholder's
Statements for the month of January 1998.
11. Series 1996-2 Class A and Class B Certificateholder's
Statements for the month of January 1998.
12. Series 1996-3 Class A and Class B Certificateholder's
Statements for the month of January 1998.
13. Series 1997-1 Class A and Class B Certificateholder's
Statements for the month of January 1998.
14. Series 1997-2 Class A and Class B Certificateholder's
Statements for the month of January 1998.
15. Trust Excess Spread Analysis
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
CAPITAL ONE MASTER TRUST
By: CAPITAL ONE BANK
Servicer
By: /s/ David M. Willey
-------------------
David M. Willey
Vice President
Date: February 17, 1998
Page 3 of 35
<PAGE> 4
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER EXHIBITS PAGE
- ------ -------- ----
<S> <C> <C>
1 January Performance Summary 07
2 Series 1993 - 1 Class A and Class B Certificate-
holder's Statements for the month of January 1998 09
3 Series 1993 - 4 Class A and Class B Certificate-
holder's Statements for the month of January 1998 11
4 Series 1994 - 3 Class A and Class B Certificate-
holder's Statements for the month of January 1998 13
5 Series 1994-A Certificateholder's Statement for
the month of January 1998 15
6 Series 1995-1 Class A and Class B Certificate-
holder's Statements for the month of January 1998 16
7 Series 1995-2 Class A and Class B Certificate-
holder's Statements for the month of January 1998 18
8 Series 1995-3 Class A and Class B Certificate-
holder's Statements for the month of January 1998 20
9 Series 1995-4 Class A and Class B Certificate-
holder's Statements for the month of January 1998 22
10 Series 1996-1 Class A and Class B Certificate-
holder's Statements for the month of January 1998 24
11 Series 1996-2 Class A and Class B Certificate-
holder's Statements for the month of January 1998 26
</TABLE>
Page 5 of 35
<PAGE> 5
<TABLE>
<S> <C> <C>
12 Series 1996-3 Class A and Class B Certificate-
holder's Statements for the month of January 1998 28
13 Series 1997-1 Class A and Class B Certificate-
holder's Statements for the month of January 1998 30
14 Series 1997-2 Class A and Class B Certificate-
holder's Statements for the month of January 1998 32
15 Trust Excess Spread Analysis 35
</TABLE>
Page 6 of 35
<PAGE> 1
CAPITAL ONE MASTER TRUST (RECEIVABLES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998
<S> <C>
Beginning of the Month Principal Receivables : 10,576,845,603.02
-----------------
Beginning of the Month Finance Charge Receivables : 319,858,496.18
-----------------
Beginning of the Month Discounted Receivables : 0.00
-----------------
Beginning of the Month Total Receivables : 10,896,704,099.20
-----------------
Removed Principal Receivables : 0.00
-----------------
Removed Finance Charge Receivables : 0.00
-----------------
Removed Total Receivables : 0.00
-----------------
Additional Principal Receivables : 640,987,388.85
-----------------
Additional Finance Charge Receivables : 2,624,522.51
-----------------
Additional Total Receivables : 643,611,911.36
-----------------
Discounted Receivables Generated this Period 0.00
-----------------
End of the Month Principal Receivables : 10,061,736,517.10
-----------------
End of the Month Finance Charge Receivables : 324,534,089.18
-----------------
End of the Month Discounted Receivables : 0.00
-----------------
End of the Month Total Receivables : 10,386,270,606.28
-----------------
Excess Funding Account Balance 0.00
-----------------
Adjusted Invested Amount of all Master Trust Series 8,968,341,857.83
-----------------
End of the Month Seller Percentage 10.866858%
-----------------
</TABLE>
CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998 ACCOUNTS RECEIVABLES
-------- -----------
<S> <C> <C>
End of the Month Delinquencies :
30 - 59 Days Delinquent 152,467 236,827,331.51
------- --------------
60 - 89 Days Delinquent 93,722 152,689,695.55
------- --------------
90 + Days Delinquent 189,476 307,126,354.57
------- --------------
Total 30 + Days Delinquent 435,665 696,643,381.63
------- --------------
Delinquencies 30 + Days as a Percent of End of the Month Total Receivables 6.71%
--------------
Defaulted Accounts During the Month 79,290 (1) 110,043,705.99
------- --------------
Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables (1) 13.10%
--------------
</TABLE>
(1) During the 4th Quarter of 1997, Capital One changed the methodology as to
the timing of charging-off credit card loans. Capital One now charges-off credit
card loans at 180 days past due versus the prior practice of charging-off credit
card loans during the first billing cycle after becoming 180 days past due. The
change in methodology amounted to $40,961,451.31/4.88% of additional December
charge-offs and is referred to as the Transitional Defaulted Amount for the
purposes of the Servicing Reports.
<TABLE>
<S> <C> <C>
Proforma Defaulted Accounts (which excludes Transitional Defaulted Amount) 34,711 69,082,254.68
------ -------------
Proforma Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables 8.22%
-------------
</TABLE>
Page 7 of 35
<PAGE> 2
<TABLE>
<S> <C> <C>
Total Collections and Gross Payment Rate 1,168,055,035.97 10.72%
---------------- ----------------
Collections of Principal Receivables and Principal Payment Rate 995,815,142.89 9.42%
---------------- ----------------
Prior Month Billed Finance Charge and Fees 151,283,118.84
----------------
Amortized AMF Income 9,434,358.89
----------------
Interchange Collected 5,854,531.71
----------------
Recoveries of Charged Off Accounts 7,452,633.86
----------------
Collections of Discounted Receivables 0.00
----------------
Collections of Finance Charge Receivables and Annualized Yield 174,024,643.30 19.74%
---------------- ----------------
CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : JANUARY 1998
Beginning Unamortized AMF Balance 47,357,670.68
----------------
+ AMF Slug for Added Accounts 0.00
----------------
+ AMF Collections 7,649,608.67
----------------
- Amortized AMF Income 9,434,358.89
----------------
Ending Unamortized AMF Balance 45,572,920.46
----------------
</TABLE>
CAPITAL ONE MASTER TRUST (DISCOUNTED RECEIVABLES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998
<S> <C> <C>
Gross Principal Payment Rate 9.42%
----------------
May 17, 1994 3% Discount of Addition 50,184,973.92
----------------
Total Discounted Receivables Collections as of Beginning of Month 50,184,973.92
----------------
Collections of Discounted Receivables Current Month 0.00
----------------
Discounted Receivables to be Collected 0.00
----------------
</TABLE>
/s/ Douglas C.H. Adamson
--------------------------
Douglas C.H. Adamson
Securitization Manager
Page 8 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1993-1
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 4.3333333333
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 4.3333333333
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1993-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 4.5000000000
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 4.5000000000
------------
</TABLE>
Page 9 of 35
<PAGE> 2
<TABLE>
<S> <C>
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1993-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
</TABLE>
CAPITAL ONE BANK
as Servicer
By : /s/ Douglas C.H.Adamson
--------------------------
Name : Douglas C.H. Adamson
Title : Securitization Manager
Page 10 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1993-4
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3567708374
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.3567708374
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1993-4 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 4.8333332967
------------
</TABLE>
Page 11 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 4.8333332967
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1993-4 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
</TABLE>
CAPITAL ONE BANK
as Servicer
By : /s/ Douglas C.H.Adamson
--------------------------
Name : Douglas C.H. Adamson
Title : Securitization Manager
Page 12 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1994-3
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3109375105
-------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.3109375105
-------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
-------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
-------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
-------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
-------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1994-3 Investor Certificateholder's Investment) 0.0000000000
-------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
-------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 6.1250001228
-------------
</TABLE>
Page 13 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 6.1250001228
-------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
-------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
-------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
-------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
-------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1994-3 Investor Certificateholder's Investment) 0.0000000000
-------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
-------------
E) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 54,303,682
-------------
F) The Required Collateral Amount as of the close of business on such Distribution Date, after giving effect to any
withdrawal from the Collateral Account and payments to the Collateral Indebtedness Holder on such
Distribution Date, will be equal to 54,303,682
-------------
</TABLE>
Page 14 of 35
<PAGE> 1
MONTHLY CERTIFICATEHOLDERS STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1994-A
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank, as Seller and Servicer (the
"Bank"), and the Bank of New York, as trustee (the "Trustee") and pursuant to
the Amended and Restated Series 1994-A Supplement dated as of November 17, 1994
and amended and restated as of October 31, 1997 among the Bank, the Trustee and
Union Bank of Switzerland, New York Branch, as servicing agent, the Bank as
Servicer is required to prepare certain information each month regarding current
distributions to Certificateholders and the performance of the Capital One
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts
<TABLE>
<S> <C>
1) The total amount of the distribution to Series 1994-A Certificateholders on the
Payment Date is 5.4952351400
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of principal
on the Series 1994-A Certificate is 0.0000000000
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Series 1994-A Certificates 5.4952351400
------------
4) The total amount of the distribution to Collateral Indebtedness Holder on the
Payment Date is 5.5859374771
------------
5) The amount of the distribution set forth in 4 above in respect to principal
on the Collateral Indebtedness Interest is 0.0000000000
------------
6) The amount of the distribution set forth in 4 above in respect to interest
on the Collateral Indebtedness Interest is 5.5859374771
------------
</TABLE>
Page 15 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1995-1
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3017708333
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.3017708333
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.4026041975
------------
</TABLE>
Page 16 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.4026041975
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
E) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 99,000,000
------------
F) The Required Collateral Amount as of the close of business on such Distribution Date, after giving effect to any
withdrawal from the Collateral Account and payments to the Collateral Indebtedness Holder on such
Distribution Date, will be equal to 99,000,000
------------
</TABLE>
Page 17 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1995-2
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.2284375000
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.2284375000
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
--------------
B) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $10,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
52.2843750000
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 52.2843750000
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
--------------
C) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $100,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
522.8437500000
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 522.8437500000
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
--------------
</TABLE>
Page 18 of 35
<PAGE> 2
<TABLE>
<S> <C>
D) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
--------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
--------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
--------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-2 Investor Certificateholder's Investment) 0.0000000000
--------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
--------------
E) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3292707692
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.3292707692
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
--------------
F) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
--------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above,
per $1,000 Original Principal Amount 0.0000000000
--------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
--------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-2 Investor Certificateholder's Investment) 0.0000000000
--------------
5) The amount, if any, by which the outstanding principal balance of the Class
B Certificates exceeds the Class B Invested Amount after giving effect to
all transactions on such Distribution Date 0.00
--------------
G) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 26,250,000
--------------
H) The Required Collateral Amount as of the close of business on such
Distribution Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Indebtedness Holder on such Distribution
Date, will be equal to 26,250,000
--------------
</TABLE>
Page 19 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1995-3
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.2651041667
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.2651041667
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-3 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3659375092
------------
</TABLE>
Page 20 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.3659375092
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-3 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
------------
E) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 73,500,000
------------
F) The Required Collateral Amount as of the close of business on such Distribution Date, after giving effect to any
withdrawal from the Collateral Account and payments to the Collateral Indebtedness Holder on such
Distribution Date, will be equal to 73,500,000
------------
</TABLE>
Page 21 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1995-4
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 0.0000000000
---------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
---------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
---------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
---------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
---------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
---------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-4 Investor Certificateholder's Investment) 0.0000000000
---------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such
Distribution Date 0.00
---------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3109375385
---------------
</TABLE>
Page 22 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.3109375385
---------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
---------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
---------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
---------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
---------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1995-4 Investor Certificateholder's Investment) 0.0000000000
---------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such
Distribution Date 0.00
---------------
E) The Available Collateral Amount as of the close of business on the preceding Distribution
Date (after giving effect to any withdrawal from the Collateral Account) was equal to 43,233,032
---------------
F) The Required Collateral Amount as of the close of business on such Distribution Date, after
giving effect to any withdrawal from the Collateral Account and payments to the Collateral
Indebtedness Holder on such Distribution Date, will be equal to 41,351,312
---------------
</TABLE>
Page 23 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1996-1
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 15.3205555621
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 15.3205555621
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
----------------
B) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $10,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $10,000 Original Principal Amount 153.2055556213
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 153.2055556213
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
----------------
C) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $100,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $100,000 Original Principal Amount 1,532.0555562130
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 1,532.0555562130
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
----------------
</TABLE>
Page 24 of 35
<PAGE> 2
<TABLE>
<S> <C>
D) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.0000000000
----------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
----------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.0000000000
----------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-1 Investor Certificateholder's Investment) 0.0000000000
----------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
----------------
E) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.3751041420
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.3751041420
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
----------------
F) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.0000000000
----------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
----------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.0000000000
----------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-1 Investor Certificateholder's Investment) 0.0000000000
----------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
----------------
G) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 59,150,000
----------------
H) The Required Collateral Amount as of the close of business on such
Distribution Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Indebtedness Holder on such Distribution
Date, will be equal to 59,150,000
----------------
</TABLE>
Page 25 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1996-2
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.2192708333
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.2192708333
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
--------------
B) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $10,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $10,000 Original Principal Amount 52.1927083333
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 52.1927083333
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.00
--------------
C) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $100,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $100,000 Original Principal Amount 521.9270833333
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 521.9270833333
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
--------------
</TABLE>
Page 26 of 35
<PAGE> 2
<TABLE>
<S> <C>
D) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
--------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
--------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
--------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-2 Investor Certificateholder's Investment) 0.0000000000
--------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
--------------
E) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.4301041212
--------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.4301041212
--------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.00
--------------
F) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
--------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
--------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
--------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-2 Investor Certificateholder's Investment) 0.0000000000
--------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
--------------
G) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 67,500,000
--------------
H) The Required Collateral Amount as of the close of business on such
Distribution Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Indebtedness Holder on such Distribution
Date, will be equal to 67,500,000
--------------
</TABLE>
Page 27 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1996-3
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.2376041750
-------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 5.2376041750
-------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
-------------
B) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.00
-------------
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
-------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.00
-------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-3 Investor Certificateholder's Investment) 0.0000000000
-------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.00
-------------
C) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.4576041818
-------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.4576041818
-------------
</TABLE>
Page 28 of 35
<PAGE> 2
<TABLE>
<S> <C>
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.00
-------------
D) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.00
-------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
-------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.00
-------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1996-3 Investor Certificateholder's Investment) 0.0000000000
-------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.00
-------------
E) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 45,000,000
-------------
F) The Required Collateral Amount as of the close of business on such Distribution Date, after giving effect to any
withdrawal from the Collateral Account and payments to the Collateral Indebtedness Holder on such
Distribution Date, will be equal to 45,000,000
-------------
</TABLE>
Page 29 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1997-1
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 0.0000000000
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
B) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $10,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $10,000 Original Principal Amount 0.0000000000
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 0.0000000000
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
------------
C) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $100,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $100,000 Original Principal Amount 0.0000000000
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 0.0000000000
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
------------
D) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.0000000000
------------
</TABLE>
Page 30 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.0000000000
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1997-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
------------
E) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.4026042348
------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.4026042348
------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
------------
F) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.0000000000
------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.0000000000
------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1997-1 Investor Certificateholder's Investment) 0.0000000000
------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
------------
G) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 54,744,750
------------
H) The Required Collateral Amount as of the close of business on such
Distribution Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Indebtedness Holder on such Distribution
Date, will be equal to 54,744,750
------------
</TABLE>
Page 31 of 35
<PAGE> 1
FORM OF MONTHLY STATEMENT
CAPITAL ONE MASTER TRUST
SERIES 1997-2
Pursuant to the Master Pooling and Servicing Agreement dated as of
September 30, 1993 (hereinafter as such agreement may have been or may be from
time to time, supplemented, amended or otherwise modified, the "Pooling and
Servicing Agreement"), between Capital One Bank (as successor to Signet
Bank/Virginia), and The Bank of New York, as trustee (the "Trustee"), Capital
One as Servicer is required to prepare certain information each month regarding
current distributions to Certificateholders and the performance of the Capital
One Master Trust (the "Trust") during the previous month. The information which
is required to be prepared with respect to the Distribution Date of February 17,
1998, and with respect to the performance of the Trust during the month January,
1998 is set forth below. Certain of the information is presented on the basis of
an original principal amount of $1,000 per investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 15.1391111083
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates, per $1,000 Original Principal Amount 15.1391111083
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates, per $1,000 Original Principal Amount 0.0000000000
----------------
B) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $10,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $10,000 Original Principal Amount 151.3911110830
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 151.3911110830
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
----------------
C) Information Regarding Distributions to the Class A Certificateholders
(Stated on the Basis of $100,000 Original Principal Amount)
1) The total amount of the distribution to Class A Certificateholders on February 17, 1998
per $100,000 Original Principal Amount 1,513.9111108300
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class A Certificates 1,513.9111108300
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class A Certificates 0.0000000000
----------------
D) Class A Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class A Investor Charge Off's 0.0000000000
----------------
</TABLE>
Page 32 of 35
<PAGE> 2
<TABLE>
<S> <C>
2) The amount of Class A Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
----------------
3) The total amount of reimbursed to the Trust in respect of Class A Investor Charge Off's 0.0000000000
----------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1997-2 Investor Certificateholder's Investment) 0.0000000000
----------------
5) The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
----------------
E) Information Regarding Distributions to the Class B Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class B Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.4026042037
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class B Certificates, per $1,000 Original Principal Amount 5.4026042037
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class B Certificates, per $1,000 Original Principal Amount 0.0000000000
----------------
F) Class B Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class B Investor Charge Off's 0.0000000000
----------------
2) The amount of Class B Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
----------------
3) The total amount of reimbursed to the Trust in respect of Class B Investor Charge Off's 0.0000000000
----------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1997-2 Investor Certificateholder's Investment) 0.0000000000
----------------
5) The amount, if any, by which the outstanding principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
----------------
G) Information Regarding Distributions to the Class C Certificateholders
(Stated on the Basis of $1,000 Original Principal Amount)
1) The total amount of the distribution to Class C Certificateholders on February 17, 1998
per $1,000 Original Principal Amount 5.6088541537
----------------
2) The amount of the distribution set forth in paragraph 1 above in respect of interest
on the Class C Certificates, per $1,000 Original Principal Amount 5.6088541537
----------------
3) The amount of the distribution set forth in paragraph 1 above in respect of principal
of the Class C Certificates, per $1,000 Original Principal Amount 0.0000000000
----------------
</TABLE>
Page 33 of 35
<PAGE> 3
<TABLE>
<S> <C>
H) Class C Investor Charge Off's and Reimbursement of Charge Off's
1) The amount of Class C Investor Charge Off's 0.0000000000
----------------
2) The amount of Class C Investor Charge Off's set forth in paragraph 1 above, per $1,000
Original Principal Amount 0.0000000000
----------------
3) The total amount of reimbursed to the Trust in respect of Class C Investor Charge Off's 0.0000000000
----------------
4) The amount set forth in paragraph 3 above, per $1,000 Original Principal
Amount (which will have the effect of increasing, pro rata, the amount of
each Series 1997-2 Investor Certificateholder's Investment) 0.0000000000
----------------
5) The amount, if any, by which the outstanding principal balance of the Class C Certificates
exceeds the Class C Invested Amount after giving effect to all transactions on such Distribution Date 0.0000000000
----------------
G) The Available Collateral Amount as of the close of business on the preceding Distribution Date (after
giving effect to any withdrawal from the Collateral Account) was equal to 45,199,125
----------------
H) The Required Collateral Amount as of the close of business on the upcoming
Distribution Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Class C Interest Holder on such Distribution
Date, will be equal to 45,199,125
----------------
</TABLE>
Page 34 of 35
<PAGE> 1
CAPITAL ONE MASTER TRUST
TRUST EXCESS SPREAD ANALYSIS - JANUARY-98
<TABLE>
<CAPTION>
Card Trust COMT 93-1 COMT 93-4 COMT 94-3 COMT 95-1 COMT 95-2 COMT 95-3
Deal Size $500MM $700MM $453MM $900MM (NON-US $1050MM
Expected Maturity: 10/16/02 1/16/03 6/16/03 6/16/04 TRANSACTION) 8/16/04
<S> <C> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------
Excess Spread:
Proforma Portfolio Yield 20.96% 20.96% 20.96% 20.96% N/A 20.96%
(1) TFCR 2.07% 2.07% 2.07% 2.07% N/A 2.07%
----- ----- ----- ----- --- -----
Portfolio Yield 18.89% 18.89% 18.89% 18.89% N/A 18.89%
LES(Wt Avg) Coupon 5.22% 5.60% 5.76% 5.65% N/A 5.62%
SVC Fees 1.91% 1.91% 1.91% 1.91% N/A 1.91%
Charge-Offs 6.48% 6.48% 6.48% 6.48% N/A 6.48%
Excess Spread: Jan-02 5.28% 4.90% 4.74% 4.85% N/A 4.88%
Dec-01 2.60% 1.73% 1.56% 1.68% N/A 1.71%
Nov-01 7.25% 6.35% 6.20% 6.41% N/A 6.45%
3-Mo Avg Excess Spread 5.04% 4.33% 4.17% 4.31% N/A 4.35%
- ---------------------------------------------------------------------------------------------------------------------
Delinquent 30 to 59 days 2.28% 2.28% 2.28% 2.28% N/A 2.28%
60 to 89 days 1.47% 1.47% 1.47% 1.47% N/A 1.47%
90+ days 2.96% 2.96% 2.96% 2.96% N/A 2.96%
Monthly Payment Rate 10.72% 10.72% 10.72% 10.72% N/A 10.72%
</TABLE>
<TABLE>
<CAPTION>
Card Trust COMT 95-4 COMT 96-1 COMT 96-2 COMT 96-3 COMT 97-1 COMT 97-2
Deal Size $750MM (NON-US $750MM $500MM (NON-US (NON-US
Expected Maturity: 5/16/02 TRANSACTION) 12/16/05 1/16/08 TRANSACTION) TRANSACTION)
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
Excess Spread:
Proforma Portfolio Yield 20.96% N/A 20.96% 20.96% N/A N/A
(1) TFCR 2.07% N/A 2.07% 2.07% N/A N/A
----- --- ----- ----- --- ---
Portfolio Yield 18.89% N/A 18.89% 18.89% N/A N/A
LES(Wt Avg) Coupon 5.41% N/A 6.16% 6.20% N/A N/A
SVC Fees 1.91% N/A 1.41% 1.41% N/A N/A
Charge-Offs 6.48% N/A 6.48% 6.48% N/A N/A
Excess Spread: Jan-02 5.09% N/A 4.84% 4.80% N/A N/A
Dec-01 2.24% N/A 1.74% 1.71% N/A N/A
Nov-01 6.65% N/A 6.48% 6.45% N/A N/A
3-Mo Avg Excess Spread 4.66% N/A 4.35% 4.32% N/A N/A
- ------------------------------------------------------------------------------------------------------------------------
Delinquent 30 to 59 days 2.28% N/A 2.28% 2.28% N/A N/A
60 to 89 days 1.47% N/A 1.47% 1.47% N/A N/A
90+ days 2.96% N/A 2.96% 2.96% N/A N/A
Monthly Payment Rate 10.72% N/A 10.72% 10.72% N/A N/A
</TABLE>
COMMENTS:
(1) During the fourth quarter of 1997 Capital One Bank ("Bank") modified its
methodology as to the timing of charge-offs of credit card loans. The Bank now
charges off credit card loans at 180 days past-due versus the prior practice of
charging off loans during the next billing cycle after becoming 180 days
past-due. For the Capital One Master Trust (the "Trust"), this new methodology
will take effect in December 1997 and January 1998. In January 1998, this new
methodology resulted in a decrease of $18,249,551.72/2.07% in the amount of
Finance Charge Receivables "Transitional Finance Charge Reversals" (TFCR),
reflecting the reversal of finance charges and fees previously accrued for these
Defaulted Accounts. Excess Spread of January will also be reduced
proportionately as a result of the decrease in Finance Charge Receivables. For
December, this change in methodology resulted in an additional increase of
$40,961,451.31 in the Defaulted Amount and correspondingly an additional
increase of 4.88% in the Annualized Default Rate for the Capital One Master
Trust. This increase reflects the charge-off of principal receivables in
December under the new methodology. In addition, for each series Excess Spread
will be reduced proportionately as a result of the increased Defaulted Amount.
Page 35 of 35
