CarMax Enters Northeast With Superstore Opening in Hartford, Conn.

RICHMOND, Va., April 20 -- CarMax, Inc., , the nation's largest retailer of used cars, officially opened its first store in the Northeast region of the United States today with an opening in Hartford, Connecticut. The retailer's second northeastern U.S. store will be opened early next year in New Haven, Connecticut.

"We have revolutionized the way consumers buy cars," said Austin Ligon, president and chief executive officer of CarMax. "This will be the first time northeastern area residents will have an opportunity to experience a no- hassle, no-haggle, fun and easy car shopping experience. As we continue to grow our store base by 15 to 20 percent each year, we are looking forward to introducing ourselves to more and more consumers in the Northeast."

The new CarMax superstore is located at 89 Weston Street in Hartford, Connecticut. The store is more than 50,000 square-feet, employs more than 100 people and stocks between 350 to 500 vehicles, including nearly every make and model.

CarMax opened its first store in Richmond, Virginia more than 12 years ago after surveying thousands of consumers to find out what they liked and disliked about car shopping. CarMax was designed according to the survey responses, giving consumers what they asked for:

  Low Prices

  * No hassles, no haggling on all four parts of the car purchase
    -- Price of the vehicle
    -- Price of the extended service plan
    -- Price of the financing
    -- Price of the "trade-in," a written cash offer good for seven days
       whether or not the customer buys a car from CarMax

  Broad Selection

  * Hundreds of vehicles on every lot (average 300 to 400 per store)

  * Nearly every make and model (both domestic and import used vehicles)

  * Used vehicles that are generally one to six years old with less than
    60,000 miles

  * More than 20,000 vehicles online at carmax.com

  * Transfer virtually any used car in CarMax's nationwide inventory to the
    store nearest you

  Great Quality

  * Guaranteed quality cars and no flood or frame-damaged vehicles

  * Thoroughly inspected and reconditioned vehicles

  * Five-day money back guarantee and a limited 30-day warranty (60-day in
    Conn.)

  Customer Friendly

  * All sales people are paid the same, no matter which car is sold (except
    Calif. associates)

  * A For Kids Only(R) supervised play area

  * CarMax will buy any car, whether or not the seller purchases a CarMax
    vehicle

Carmax.com features actual prices and photos of CarMax's entire nationwide inventory of more than 20,000 vehicles. Prospective car buyers can have a vehicle transferred from another CarMax superstore to the Hartford superstore for a fee.

About CarMax

CarMax, a FORTUNE 500 company and one of the FORTUNE 2006 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 68 used car superstores in 32 markets. CarMax also operates seven new car franchises, all of which are integrated or co-located with its used car superstores. During the twelve month period ended February 28, 2006, the company sold 289,888 used cars, which is 93 percent of the total 310,789 vehicles the company retailed during that period. For more information, access the CarMax website at http://www.carmax.com/.