CarMax Wins International Torch Award For Marketplace Excellence By Council of Better Business Bureaus

RICHMOND, Va., March 10 /PRNewswire/ -- CarMax, Inc. NYSE: KMX, the nation's largest retailer of used cars, has won the 2008 International Torch Award for Marketplace Excellence by the Council of Better Business Bureaus (BBB). Since 1996, the BBB has been honoring businesses that demonstrate high ethical standards of behavior towards customers, employees, shareholders and communities and have earned a reputation for noteworthy community contributions. Companies from all 50 states, Canada and Mexico compete annually for this coveted award.

"We are honored to have won the prestigious BBB International Torch Award for Marketplace Excellence," said Tom Folliard, president and chief executive officer of CarMax. "We believe that this award recognizes the commitment we have to our customers and each other. Our associates deliver outstanding customer service based on integrity and transparency regarding all aspects of the car buying process." CarMax shares this honor with Ritter Daniher Financial Advisory, LLC, located in Cincinnati, Ohio.

CarMax's success is largely due to its associates who have gone above and beyond to create a culture focused on being ethical, trustworthy, and respectful of customers. CarMax training programs support integrity and ethics in the workplace, including its Culture of Integrity compliance and ethics training, and Treating Associates with Respect diversity training. In addition, all associates are required to sign a Code of Business Conduct (COBC) upon beginning employment and during annual performance reviews with the company. The COBC provides every associate with clear guidelines regarding expectations of ethical conduct.

CarMax also recognizes that marketplace excellence extends to supporting and giving back to the communities where our associates live and work. In 2003, CarMax created The CarMax Foundation to support community giving through local and national grants, matching gifts and volunteer programs. Since 2003, the Foundation has given more than $4.6 million to a variety of nonprofit organizations.

CarMax offers consumers a no-hassle, no-haggle car-buying experience and a broad selection of high-quality used vehicles at competitively low, fixed prices. CarMax guarantees the quality of its cars, does not sell flood- or frame-damaged vehicles, and guarantees a clean title and accurate odometer readings on its cars. All vehicles are thoroughly inspected and reconditioned, and CarMax backs every vehicle it sells with a five-day, money- back guarantee and a 30-day limited warranty (60-day in Conn.).

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 90 used car superstores in 41 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 twelve months ended February 28, 2007, the company retailed 337,021 used vehicles and sold 208,959 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at http://www.carmax.com.

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