CarMax to Webcast Management Presentations

RICHMOND, Va., Oct. 7, 2003 -- CarMax, Inc. will webcast management presentations being given in conjunction with a field trip for security analysts at 8:45 a.m. on October 8, 2003, in Charlotte, N.C. The field trip and management presentations are designed to help analysts understand in greater depth the day-to-day operations at a CarMax superstore and how those operations provide CarMax its competitive advantages.

A live webcast of the presentations will be available on the company's investor information homepage at http://investor.carmax.com/ or at www.streetevents.com. Domestic investors may also listen to the presentations at 1-888-298-3261 (I.D.: 3189350). International investors may listen at 1- 706-679-7457 (I.D.: 3189350).

A replay of the presentations will be available beginning at approximately 4:00 p.m. Eastern time on October 8, 2003, and will run through midnight on October 22, 2003, on the company's investor information homepage or at www.streetevents.com. Domestic investors may listen to the replay at 1-800- 642-1687 (I.D.: 3189350) and international investors at 1-706-645-9291 (I.D.: 3189350).

CarMax is the nation's leading specialty retailer of used cars. Headquartered in Richmond, Va., CarMax 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 vehicles, 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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