CarMax Reschedules Second Quarter Earnings Release and Conference Call

Hurricane Interruption Cited

RICHMOND, Va., Sept. 18 -- CarMax, Inc. today announced that it has rescheduled its second quarter earnings release and conference call to Monday, September 22, 2003, because of the potential for hurricane-related disruption at its corporate office location.

The company conference call for investors is rescheduled for 9:00 a.m. Eastern time on September 22, 2003. Domestic investors may access the call at 1-888-298-3261 (conference I.D.: 2632529). International investors should dial 1-706-679-7457 (conference I.D.: 2632529). A live Web cast of the call will be available on the company's investor information home page at http://investor.carmax.com/ or at www.streetevents.com. The earnings release and conference call previously was scheduled for Friday, September 19, 2003.

A replay of the call will be available beginning at approximately 1:00 p.m. Eastern time on September 22 and will run through midnight, September 29, 2003. Domestic investors may access the recording at 1-800-642-1687 (conference I.D.: 2632529) and international investors at 1-706-645-9291 (conference I.D.: 2632529). A replay of the call also will be available on the company's investor information home page or at www.streetevents.com.

CarMax is the nation's leading specialty retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 44 used car superstores in 21 markets. CarMax also operates 15 new car franchises, 13 of which are integrated or co-located with its used car superstores. During the twelve month period ended August 31, 2003, the company sold 210,143 used cars, which is 91 percent of the total 232,003 vehicles the company sold during that period. For more information, access the CarMax Web site at www.carmax.com.

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