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RICHMOND, Va. (February 20, 2008)—CarMax, Inc., (NYSE: KMX), the nation’s largest retailer of used cars, will open a fourth Car Buying Center exclusively dedicated to buying cars from customers. The Hurst CarMax Car Buying Center will be located at 780 Grapevine Highway in Hurst and is expected to open this month. This is the retailer’s first Car Buying Center located in the Dallas/Fort Worth area. Other locations include Raleigh, North Carolina, Tampa, Florida and Atlanta, Georgia.

"The CarMax Car Buying Center will provide a free appraisal of your vehicle, an important piece of information for anyone starting the car-buying process," said Tom Folliard, president and chief executive officer of CarMax. "At CarMax, we do not adjust the value of your trade-in based on what car you are buying; we separate the appraisal and buying process." CarMax provides a written offer for the vehicle good for seven days.

"One of the benefits of selling your car to CarMax is that you don’t have to deal with the hassles of finding a buyer, negotiating the price, and handling all of the legally required paperwork to sell your car to an individual," Folliard said.

More than 50 percent of the vehicles CarMax retails are bought through the customer appraisal process. Vehicles purchased from customers that don’t meet CarMax’s quality standards are sold at wholesale auctions.

"We are opening this CarMax Car Buying Center to determine the potential success of having a store totally dedicated to buying cars from customers," Folliard said. "Increasing the number of cars we buy from customers will help us become more self-sufficient in supplying our inventory and less reliant on car auctions."

CarMax’s car buying team have appraised more than six million cars nationwide and use a wide range of information, along with a thorough examination of your vehicle, to determine its value.

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 89 used car superstores in 41 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. 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 www.carmax.com

Media Contacts:
Trina Lee, Public Relations Manager, (804) 747-0422 ext. 4197
Elia Imler, Assistant Manager, Public Affairs, (804) 747-0422, ext. 4029

For Media Inquiries Only Contact:

Lisa Van Riper
Assistant Vice President Public Affairs and Store Marketing
(804) 935-4594
Email

Trina H. Lee
Public Relations Manager
(804) 747-0422 Ext. 4197
Email

Chris Wilmore
Assistant Public Relations Manager, New Media
(804) 747-0422 Ext. 4773
Email

Elia Imler
Assistant Public Affairs Manager
(804) 747-0422 Ext. 4029
Email

For Customer Relations Contact:
(800) 519-1511 or click here

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