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CarMax Named One Of The "100 Best Companies To Work For" By FORTUNE Magazine For The Eighth Consecutive Year

RICHMOND, Va.--(BUSINESS WIRE)--Jan. 19, 2012-- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has been named by FORTUNE magazine as one of its 2012 “100 Best Companies to Work For.” This is the eighth consecutive year CarMax has been named to the list. CarMax ranks No. 91 on the list for 2012.

The list and related stories will appear in the February issue of FORTUNE, available on newsstands January 23, 2012 and now at www.fortune.com/bestcompanies.

“This recognition is a testament to our talented associates,” said Tom Folliard, president and chief executive officer of CarMax. “Their innovation and dedication is what continues to move our company forward and creates a workplace where we feel inspired to do our very best each day.”

The company continues to move forward with its growth plan, having announced expected openings for 10 new stores for fiscal year 2013, including new cities such as Lancaster, Pa., Naples, Fla., and Denver, Colo. The company has stated that it will open between 10 and 15 stores per year through fiscal year 2016.

Consumers can search thousands of quality used cars on carmax.com or visit their local CarMax store to browse a large selection of vehicles. Each vehicle is reconditioned, goes through more than a 125-point quality inspection and comes with a free online Vehicle History Report. Consumers can search vehicles from 30 top brands by fuel economy and features, read customer reviews, review reliability ratings by J.D. Power and Associates and obtain safety ratings by the National Highway Traffic Safety Administration, all on carmax.com. All vehicles come with a 30-day limited warranty (60-day in Conn. and 90-day in Mass.) and a five-day, money-back guarantee.

To pick the 100 Best Companies, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America; 280 companies participated in this year's survey. Two-thirds of a company's score is based on the results of a random sample of employees from each company. The survey asks questions related to their attitudes about management’s credibility, job satisfaction, and camaraderie. The other third is based on responses to the institute’s Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, internal communication, training, recognition programs, and diversity efforts.

About CarMax

CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE 2012 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 107 used car superstores in 52 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, 2011, the company retailed 396,181 used cars and sold 263,061 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com.

Source: CarMax, Inc.

Media Contacts
Elia C. Imler, CarMax Public Relations, (804) 747-0422 ext.4029
Britt D. Farrar, Manager, Public Relations, (804) 747-0422 ext.3473
Twitter ID: @CarMax

"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.