RICHMOND, Va. (December 22, 2008)-CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, announced today that The CarMax Foundation has awarded Youth Network TV in the Fort Worth area a $18,300 grant as part of the Foundation’s Regional Giving Program.

Youth Network TV received the grant to support its 2009 educational broadcast programs. The television program reaches young people between the ages of ten and 25. Youth Network TV is a youth education branch of Children’s Feeding Network and provides leadership and goal oriented programming for youth by youth. The children involved are taught the basics of video creation, editing, and interviewing while learning and promoting community involvement and positive lifestyle choices.

“The CarMax Foundation is proud to support programs that focus on the education of the young people of our area,” said Guido Merkens, Southwest Regional Giving Committee chairperson and CarMax location general manager in San Antonio. “Youth Network TV provides hands-on educational opportunities with peer support that allows kids to become leaders in their community and reach their goals.”

This grant is part of the CarMax Southwest region’s total of $100,000 donated to local organizations this year. The CarMax Foundation’s Regional Giving Program reinforces CarMax's commitment to funding programs that improve local communities. 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 will grant up to $100,000, totaling $800,000 in grants nationwide this fiscal year. 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/.