CarMax Changes Time of Third Quarter Conference Call

Conference Call Moved Up 1 Hour

RICHMOND, Va., Dec. 15 -- CarMax, Inc. today announced that it is rescheduling the time of its third quarter earnings conference call to reduce conflicts with calls being conducted by other retailers.

The company conference call for investors is rescheduled for 9:00 a.m. Eastern time on December 17, 2003. Domestic investors may access the call at 1-888-298-3261 (conference I.D.: 4314399). International investors should dial 1-706-679-7457 (conference I.D.: 4314399). 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.

A replay of the call will be available beginning at approximately 2:00 p.m. Eastern time on December 17 and will run through midnight, December 24, 2003. Domestic investors may access the recording at 1-800-642-1687 (conference I.D.: 4314399) and international investors at 1-706-645-9291 (conference I.D.: 4314399). 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 46 used car superstores in 22 markets. CarMax also operates 14 new car franchises, 12 of which are integrated or co-located with its used car superstores. During the twelve month period ended November 30, 2003, the company sold 216,230 used cars, which is 91 percent of the total 238,118 vehicles the company sold during that period. For more information, access the CarMax Web site at www.carmax.com.

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

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