CARMAX FOUNDATION AWARDS $10,000 GRANT TO MARYLAND SALEM CHILDREN'S TRUST / CarMax

RICHMOND, Va. (June 11, 2008) - CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, announced today that the CarMax Foundation has awarded Maryland Salem Children’s Trust a $10,000 grant as part of the Foundation’s new Regional Giving Program.

Maryland Salem Children’s Trust received the grant for the Salem Solar Wind Project, which offers children hands-on experience with alternate energy sources and provides them with learning opportunities outside the classroom. The program’s goal is to teach kids the importance of saving energy and how they can make a difference in the environment.

“Salem Solar Wind Project is a way to get out of the classroom and learn something new and innovative,” said Tim Dillistin, Mid-Atlantic Regional Giving Committee chairperson and CarMax purchasing manager in Dulles. “The CarMax Foundation is proud to support programs that help children excel in school with activities that make it fun to learn.”

The CarMax Foundation’s Regional Giving Program reinforces CarMax's commitment to funding programs that improve the communities where our associates live and work. The Regional Giving Program will provide grants to qualifying nonprofit organizations that have programs focused on education and youth leadership.

Each of CarMax’s seven regions will grant up to $100,000 annually to organizations in their local area, totaling $700,000 nationwide, which will directly benefit local communities each year. CarMax associates working within each of the regions select the local organizations to recommend for grants.

About the CarMax Foundation
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2008 “100 Best Companies to Work For,” is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 96 used car superstores in 45 markets. The CarMax consumer offer provides our customers the opportunity to shop for vehicles the way they shop for items at other national retailers, and it is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and a customer-friendly sales process. During the fiscal year ended February 29, 2008, we retailed 377,244 used cars and sold 222,406 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com.