Sales Ahead of Plan for the CarMax Group

                 Raising First Quarter Earnings Expectations

    RICHMOND, Va., May 8 CarMax Auto Superstores, Inc. today
raised its earnings expectations for the quarter ending May 31, 2001,
reflecting above plan sales growth through the first two months of the
quarter.

    CarMax expects first quarter net earnings per CarMax Group
share in the range of 21 cents to 23 cents, compared with 13 cents in the
quarter ended May 31, 2000.  The Circuit City Group holds a
retained interest in the CarMax Group.  CarMax expects that earnings
attributed to the Circuit City Group stock will range from 7 cents per share
to 8 cents per share compared with 5 cents per share in the same period last
year.

    "With ongoing strong sales growth in used cars and renewed sales growth in
new cars, we now anticipate first quarter comparable store sales percentage
growth in the mid-twenties," said W. Austin Ligon, president of CarMax.
"Continuing improvement in sales execution and higher store traffic are
driving the strong sales and earnings growth.  We believe that our focused
advertising message and the increased number of visits to CarMax.com are
encouraging more consumers than ever to visit our stores.

    "If the sales trends we are seeing continue through the second quarter, we
would expect second quarter earnings comparable to those we are anticipating
in the first quarter," said Ligon.  "Second quarter earnings of 21 cents to 23
cents per CarMax Group share would bring our first half expectations to 42
cents to 46 cents per share compared with last year's first half earnings of
28 cents per CarMax Group share and would be well ahead of our earlier
expectations of 33 cents to 35 cents for the first half."  First half earnings
attributed to the Circuit City Group stock would range from 14 to 16 cents per
share compared with 11 cents per share in the same period last year.