CarMax, Inc. to Celebrate 1st Anniversary of Listing and 10th Anniversary of Founding

       President and CEO Austin Ligon to Ring The Opening Bell(TM)

  EVENT:          Executives and guests of CarMax, Inc. will visit the New
                  York Stock Exchange on Monday, September 29 to celebrate
                  the company's 1st anniversary of listing and 10th
                  anniversary of the founding.

                  In honor of this special occasion, President and CEO
                  Austin Ligon will ring The Opening Bell.

  CARMAX, INC.
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.

  WHEN/WHERE:
                  MONDAY, SEPTEMBER 29, 2003 - NYSE - 20 Broad Street
                  Checkpoint
                  9:00  a.m.   Media escorted into the building for bell
                                ringing
                  9:30  a.m.   The Opening Bell is rung

                  Media interested in covering the bell ringing MUST contact
                  Allison Circle in order to obtain entry into the building.

  PHOTO/VIDEO:
                  Photos available via Associated Press/New York
                  (212.621.1902), Reuters America (646.223.6285) and
                  Bloomberg Photo (212.893.3420).

                  The Opening Bell(TM) (starting at 9:25 a.m.) and The
                  Closing Bell(TM) (starting at 3:55 p.m.) feeds are
                  available via fiber line at Waterfront #1630.

  CONTACT:  Allison Circle of CarMax, Inc., +1-212-656-5717.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20011214/CARMAXLOGO )

PRNewswire -- Sept. 26

Photo: http://www.newscom.com/cgi-bin/prnh/20011214/CARMAXLOGO