RICHMOND, Va. (May 16, 2008)-CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, announced today that the CarMax Foundation has awarded Friends of the Rappahannock a $10,000 grant as part of the Foundation’s new Regional Giving Program.

Friends of the Rappahannock received the grant for the Environmental Education program “At the River’s Edge,” which is a conservation project used to engage students with hands-on outdoor projects within their community.

“Friends of the Rappahannock is an organization that mixes learning with fun,” Tim Dillistin, Mid-Atlantic Regional Giving Committee chairperson and CarMax purchasing manager in Dulles. “The CarMax Foundation is proud to support programs that promote interactive learning that keeps students involved with the community.”

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 94 used car superstores in 43 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.