Glasdave! Go to the back of the class!
"K" does not mean 1,000 in this case.
It's the tolerance code, and means + or - 10%
Here's an explanation, although you can find many others and "de-coding" charts by googling for "capacitor codes."http://wiki.xtronics.com/index.php/Capacitor_Codes
To me, the system is a dang nusiance because of the necessity of shuffling the decimal point all around to get the value in microfarads. I've never gotten very good at doing it quickly in my head and more than once have used the wrong value because of a miscalculation.
I've got to admit though that other systems had their shortcomings too. Colors can fade, and be mis-identified if the light is not pure white.