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Greenville, South Carolina CarMax Wins Better Business Bureau Torch Award for Business Ethics

RICHMOND, Va. (November 7, 2006)—The Greenville used CarMax superstore has won the Torch Award for Business Ethics from the Greenville Better Business Bureau. CarMax is the nation’s largest retailer of used cars. The CarMax in Greenville is located at 2800 Laurens Road.

"Winning the Torch Award reinforces CarMax’s philosophy of fairness and openness," said Steve Reed, General Manager of the Greenville store. "CarMax is a company committed to ethical business practices, that both our associates and customers are proud to support."

Receiving the Torch Award for 2006 reflects CarMax’s continued dedication to integrity and ethics in the corporate and community settings. Torch Award winners have demonstrated their commitment to ethical business practices in all aspects of their relationships with customers, associates, vendors, shareholders, and within the community.

Greenville CarMax associates have made positive changes to the surrounding community by their volunteer efforts. For example, members of the auto technician team routinely feed the homeless and provide guidance at the Soup Kitchen sponsored by Faith at Work Ministries.

CarMax offers consumers a no-hassle, no-haggle car-buying experience and a broad selection of high-quality used vehicles. 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 offers a five-day, money-back guarantee and a limited 30-day warranty.

About CarMax

CarMax, a FORTUNE 500 company, and one of the FORTUNE 2006 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 71 used car superstores in 34 markets. CarMax also operates seven new car franchises, all of which are integrated or co-located with its used car superstores. During the twelve month period ended August 31, 2006, the company sold 311,241 used cars, which is 94% of the total 330,296 vehicles the company retailed during that period. For more information, access the CarMax website at www.carmax.com.

Media Contacts
Lisa Van Riper, Assistant Vice President, Public Affairs, (804) 935-4594
Trina H. Lee, Public Relations Manager, (804) 747-0422 ext.4197

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding CarMax, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.