CarMax Named America's Most Admired Company in Automotive Retailing, Services by FORTUNE magazine

RICHMOND, Va., March 4 -- CarMax, Inc. , the nation's largest retailer of used cars, has been ranked No. 1 on FORTUNE magazine's list of America's Most Admired Companies in the automotive retailing, services industry. CarMax also ranked No. 1 on the list in 2006.

"CarMax is honored to be recognized as a 'most admired' company in automotive retailing, services," said Tom Folliard, president and chief executive officer of CarMax. "We believe that this recognition is an acknowledgement of how we are positively impacting the automotive retail industry. We're giving customers what they want in a car-buying experience by being ethical, trustworthy and respectful."

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 the cars sold, does not sell flood- or frame-damaged vehicles, 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 (60-day in Conn.).

FORTUNE's America's Most Admired Companies list is the definitive report card on corporate reputations. FORTUNE's survey partners at Hay Group started with the FORTUNE 1,000, the 1,000 largest U.S. companies ranked by revenue, and the top foreign companies operating in the U.S. They sorted the companies by industry and selected the ten largest companies in each. To create the 64 industry lists, Hay Group asked executives, directors, and analysts to rate companies in their own industry on eight criteria, from investment value to social responsibility.

In addition to being named to FORTUNE's list of America's Most Admired Companies, CarMax has been named to FORTUNE's annual list of "100 Best Companies to Work For" for the past four years.

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 provides our customers the opportunity to shop for vehicles the way they shop for items at other national retailers, and it is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and a customer- friendly sales process. 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 http://www.carmax.com/.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20011214/CARMAXLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com