RICHMOND, Va. (July 10, 2008) - CarMax, Inc., (NYSE: KMX), the nation’s largest retailer of used cars, officially opened its first auto superstore in Tulsa, Oklahoma today. The Tulsa CarMax is located at 9131 South Memorial Drive. The store is 36,000 square-feet, employs more than 85 associates and stocks 300 to 400 used vehicles of nearly every make and model.

"We have changed the way consumers buy cars," said Tom Folliard, president and chief executive officer of CarMax. "Tulsa area residents now can choose to have a no-hassle, no-haggle, fun and easy car shopping experience at CarMax, the pioneer of the used car superstore."

More than 200 local dignitaries and CarMax associates attended a grand opening preview event at the Tulsa location today. The event included a "Road Rally" for charity featuring local television personalities competing in a driving challenge, which included parallel-parking and pack-the-trunk events. CarMax donates $1,000 to each participant’s charity, and the winner’s charity receives an additional $1,000. The Road Rally participants included KTUL-TV morning anchor Kristin Dickerson, KJRH-TV chief meteorologist Dan Threlkeld, KOKI-TV sports director Rob Loeber and KOTV sports anchor Scott Smith. Organizations that received the donations were the Community Food Bank of Eastern Oklahoma, American Red Cross- Tulsa Chapter and John 3:16 Mission.

CarMax opened its first store in Richmond, Virginia more than 14 years ago after the company researched thousands of consumers to find out what they liked and disliked about car shopping. The unique CarMax consumer offer was created in response to the research responses, giving consumers what they asked for:

Low Prices

Tulsa area residents can also preview CarMax vehicles by logging onto www.carmax.com. The website features actual prices and photos of more than 25,000 CarMax vehicles available nationwide. Prospective car buyers can have a vehicle transferred from another CarMax store location to the Tulsa store for a fee.

About CarMax
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 98 used car superstores in 46 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.

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