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CarMax Completes Acquisition of Kenosha, Wis., Auto Mall

10 December 1998

CarMax Completes Acquisition of Kenosha, Wis., Auto Mall

    RICHMOND, Va., Dec. 10 -- CarMax Auto Superstores, Inc.
announced today that it has completed the acquisition of Mauro Auto Mall,
Inc., a Kenosha, Wis., multi-showroom auto mall that includes BMW, Cadillac,
Chevrolet, Ford, Jeep, Mitsubishi, Nissan, Subaru and Toyota new-car
franchises as well as a used-vehicle sales center.
    Effective December 11, 1998, the mall will operate as the CarMax Auto
Mall.  "We are excited about this acquisition," said W. Austin Ligon,
president of CarMax.  "It gives us an outstanding opportunity to further
extend CarMax's revolutionary sales process to a broad spectrum of new-car
buyers in the greater Chicago and Milwaukee markets.
    "CarMax offers all consumers everyday low prices marked clearly on every
car, the AutoMation(R) vehicle selection system, customer-friendly service and
convenient, dependable repair service," Ligon said.  "Consumers have
demonstrated a strong preference for the CarMax way of selling cars and as a
result, CarMax locations generate industry-leading sales volumes."
    The CarMax Auto Mall encompasses approximately 25 acres with 127,000
square feet in sales and service facilities.  The facilities include separate
showrooms for each franchise.  CarMax used-car sales are managed on-site from
a separate used-car sales center.  The auto mall is prominently situated
midway between Chicago, Ill., and Milwaukee, Wis. with high visibility from
Interstate-94.
    CarMax, a subsidiary of Circuit City Stores, Inc. (NYSE:CC, KMX),
pioneered the used-car superstore concept and is today the nation's leading
used-car superstore retailer.  In addition to the CarMax Auto Mall, the
company currently operates 25 used-car superstores and four new-car
franchises.  Its two Chrysler Corporation franchises, which are located at its
superstores in Norcross and Stockbridge, Ga., carry the prestigious Five Star
rating, Chrysler's highest award for customer service excellence.  The
Norcross superstore last year produced the highest retail sales volume among
all Chrysler Five Star dealers.   For more information, access the CarMax Web
site at http://www.carmax.com.
    This release may contain forward-looking statements, which are subject to
risks and uncertainties, including, but not limited to risks associated with
the development of new business concepts and risks associated with year 2000
issues.  Additional discussion of factors that could cause actual results to
differ materially from management's projections, forecasts, estimates and
expectations is contained in the company's SEC filings.