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CarMax Grand Opens Store in Bakersfield

Bakersfield Store Celebrates with “Road Rally for Charity” Event

RICHMOND, Va. (April 19, 2012) – CarMax, Inc., (NYSE: KMX), the nation’s largest retailer of used cars, officially opened its first auto superstore in Bakersfield, Calif. today, located at 6801 Colony Street. The store is more than 41,800 square-feet, employs more than 80 associates and stocks about 300 used vehicles of nearly every make and model.

“We continue to grow our presence in California, with the opening of Bakersfield – our 15th store in the state,” said Tom Folliard, president and chief executive officer of CarMax. “Bakersfield residents can now experience our unique car buying experience that is easy, fun and hassle free.”

More than 200 local dignitaries and CarMax associates attended a grand opening event at the Bakersfield location today. The event included a “Road Rally” for charity featuring local television personalities competing in contests, which included parallel-parking and pack-the-trunk events. CarMax donated $1,000 to each participant’s charity, and the winner’s charity received an additional $1,000.

The CarMax Road Rally participants included KERO-TV chief meteorologist Colin Jackson, KBAK-TV chief meteorologist Miles Muzio, KABE-TV host of Bakersfield Al Dia morning show Maria Hernandez, and KGET-TV meteorologist and reporter Rob Martin. Organizations that received the donations were M.A.R.E. (Mastering Abilities Riding Equines), the Salvation Army Golden State Division, Alliance Against Family Violence & Sexual Assault, and the Volunteer Center of Kern County.

CarMax opened its first store in Richmond, Va. more than 18 years ago after the company surveyed thousands of consumers to find out what they liked and disliked about car shopping. CarMax was designed according to the survey responses, giving consumers what they asked for:

Low Prices

  • No hassles, no haggling on all four parts of the car purchase:
    • The price of the vehicle, which is posted clearly on the car and on carmax.com
    • Extended service plan, consumers can choose the plan that’s right for them
    • Financing, with all options displayed on a computer for the consumer to review
    • The “trade-in,” a written offer good for seven days whether or not the customer buys a car from CarMax

Broad Selection

  • Hundreds of vehicles on every lot (generally 250 to 450 per store)
  • Nearly every make and model (both domestic and import used vehicles)
  • Used vehicles that are generally one to six years old with less than 60,000 miles
  • Nearly 30,000 vehicles online at carmax.com
  • Transfer most used cars to the store nearest you

Great Quality

  • Guaranteed quality cars and no flood or frame-damaged vehicles or vehicles with odometer or title issues
  • Thoroughly inspected and reconditioned vehicles
  • Five-day money back guarantee and a limited 30-day warranty

Customer Friendly

  • A kids play area
  • CarMax will buy any car, whether or not the seller purchases a CarMax vehicle

Bakersfield, Calif. area residents can also preview CarMax vehicles by logging onto http://www.carmax.com. The website features actual prices and photos of thousands of CarMax vehicles available nationwide. Prospective car buyers can have a vehicle transferred from any CarMax location to the Bakersfield store for a fee.

CarMax is sharing photos and videos from today’s event on the company Facebook page: www.facebook.com/CarMax and through Twitter@CarMax .

About CarMax
CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE2012 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 110 used car superstores in 55 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 29, 2012, the company retailed 408,080 used cars and sold 316,649 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at http://www.carmax.com.

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