CARMAX FOUNDATION AWARDS $7,500
THE NEW CHILDREN’S MUSEUM GRANT IN SAN DIEGO

Richmond, Virginia and San Diego, California—December 12, 2008—CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, announced today that The CarMax Foundation has awarded The New Children’s Museum in San Diego a $7,500 grant as part of the Foundation’s Regional Giving Program.

The New Children’s Museum is an arts education institution dedicated to serving children and their families from various ethnic backgrounds. Visitors to the museum’s exhibits will experience various architectural elements and artworks made from recyclable materials. The grant will increase the accessibility of underserved schools in the San Diego area to the art exhibits.

“The CarMax Foundation is proud to support programs that provide young people in our area access to arts education,” said Mark Simmons, Los Angeles Regional Giving Committee chairperson and CarMax purchasing manager in San Diego, California. “The students will have fun while learning about various cultures and our natural surroundings and creating their own works of art.”

This grant is part of the CarMax Los Angeles 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 www.carmaxcares.com.

ABOUT THE NEW CHILDREN’S MUSEUM
The New Children’s Museum is a dynamic new model of a museum that celebrates children and the visual arts. A non-profit institution funded by memberships and community support, the Museum empowers children to think, play and create with participatory exhibitions, hands-on studio opportunities, and in-depth classroom experiences.

The Museum has recently opened its beautiful new home, a state-of-the-art facility in downtown’s Marina district. Designed by San Diego architect Rob Wellington Quigley, the environmentally sustainable building is one of the first “green” museums in California. To learn more or become a Museum member, visit www.thinkplaycreate.org.