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CarMax Completes Acquistion of Mitsubishi Franchise In Atlanta

26 February 1999

CarMax(R) Completes Acquistion of Mitsubishi New-Car Franchise In the Atlanta Market

    RICHMOND, Va., Feb. 26 -- The CarMax subsidiary of Circuit
City Stores, Inc. (NYSE: CC, KMX) announced today that it has completed the
acquisition of Boomershine Mitsubishi from Boomershine Automotive, Inc. and
will relocate the franchise to its Town Center used-car superstore in the
Atlanta, Ga., market.
    CarMax's Town Center superstore is located at 1215 Ernest Barrett Parkway
near the Town Center Mall in Kennesaw, Ga.  CarMax expects to begin selling
new Mitsubishi cars and sport utility vehicles at the Town Center store next
week.  CarMax also operates two Mitsubishi new-car franchise points at its
Laurel, Md., and Dulles, Va., superstores in the Washington, D.C./Baltimore,
Md., market and a franchise at the Kenosha, Wis., CarMax Auto Mall in the
Chicago market.
    The idea of CarMax selling new cars well is not new to the Atlanta market.
Atlanta consumers helped CarMax's other Atlanta new-car stores, two Chrysler-
Plymouth-Jeep franchises located in Norcross and Stockbridge, Ga., attain the
prestigious Five Star rating, Chrysler's highest award for customer service
excellence.  The Norcross superstore also won Chrysler's Pacesetters Club
award as the top volume Five Star dealer in America in 1997.
    CarMax will co-locate the Mitsubishi franchise and the Town Center CarMax
used-car superstore in a format similar to the two Chrysler dealerships at its
stores in Norcross and Stockbridge.
    "We are looking forward to repeating our success in the Atlanta market
with Mitsubishi," said W. Austin Ligon, president of CarMax.  "This franchise
acquisition also gives CarMax another opportunity to combine our unique offer
with quality vehicles.  It is a winning combination for the customer, for
Mitsubishi and for CarMax."
    CarMax began development of the used-car superstore concept in 1991 and
has been revolutionizing the way consumers think about automobile purchases
since opening its first store in Richmond, Va., in 1993.  CarMax locations
offer hundreds of top-quality used cars and trucks; everyday low prices marked
clearly on every car; quality guarantees; customer-friendly service; and
convenient, dependable repair service.
    Mitsubishi Motor Sales of America, Inc., was established in 1982 by
Mitsubishi Motors Corporation, Tokyo, and markets a full line of vehicles,
including coupes, convertibles, sedans and sport utility vehicles.
    CarMax operates 28 superstores.  Circuit City Stores, Inc., is a leading
national retailer of consumer electronics, major appliances, personal
computers and entertainment software.   Additional CarMax information is
available at http://www.carmax.com(SM).  Additional Circuit City information is
available at http://www.circuitcity.com(SM).
    This release contains forward-looking statements, which are subject to
risks and uncertainties, including, but not limited to, risks associated with
the development of a new retail concept.  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.