RICHMOND, Va. (November 12, 2008)-CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, announced today that the CarMax Foundation has awarded the James Whitcomb Riley Memorial Association located in Indianapolis a $8,000 grant as part of the Foundation’s Regional Giving Program.

The James Whitcomb Riley Memorial Association received the grant for the Reach Out and Read-Indiana program, an early literacy development program which is integrated into pediatric care, so children can grow into habitual readers and develop the necessary skills for life. The staff and volunteers at Reach Out and Read believe that reading is arguably the most important skill a child will ever acquire and they are dedicated to help children with limited financial resources to develop that skill.

“The CarMax Foundation is proud to support programs that help provide educational enhancement opportunities to children with limited resources,” said Rebecca Sckrabulis, Central Regional Giving Committee chairperson and CarMax location general manager in Hillside, Illinois. “The effects of the Reach Out and Read program can be enormous; being skillful in reading can benefit these kids their whole life.”

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 provides grants to qualifying nonprofit organizations that have programs focused on education and youth leadership.

Each of CarMax’s eight regions grants funds to organizations in their area, which will directly benefit local communities. CarMax associates working within each of the regions select the local organizations to recommend for grants.

About the CarMax Foundation

The CarMax Foundation’s Regional Funding Program is designed to enrich the communities where our associates live and work. The Foundation is supported by CarMax and The CarMax Foundation funding programs are made available through a percentage of CarMax, Inc.’s net income from the prior fiscal year. CarMax is a FORTUNE 500 company and one of the FORTUNE 2008 “100 Best Companies to Work For.” Headquartered in Richmond, Va., CarMax is the nation’s largest retailer of used cars and currently operates 99 used car superstores in 46 markets. CarMax provides consumers a transparent buying process based on low, no-haggle prices, a broad selection, high quality vehicles, and customer-friendly service. During the twelve months ended February 29, 2008, the company retailed 377,244 used vehicles and sold 222,406 wholesale vehicles at its in-store auctions. For more information on The CarMax Foundation, visit http://www.carmaxcares.com./.

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