CarMax Named One of the '100 Best Companies to Work For' by FORTUNE magazine for...

CarMax Named One of the '100 Best Companies to Work For' by FORTUNE magazine
for the Fourth Year in a Row
Company Moves Up 42 Places on the List in 2008

RICHMOND, Va., Jan. 22 /PRNewswire-FirstCall/ -- CarMax, Inc. (NYSE: KMX),
the nation's largest retailer of used cars, has been named by FORTUNE magazine
as one of its 2008 "100 Best Companies to Work For." This is the fourth
consecutive year CarMax has been named to the prestigious list. CarMax ranks
No. 46 on the list for 2008, which is up from a ranking of No. 88 in 2007.
The list and related stories appear in the February 4 issue of FORTUNE,
available on newsstands January 28 and at http://www.fortune.com on January
22.
"We are honored once again to be chosen by FORTUNE as one of the "100 Best
Companies to Work For," said Tom Folliard, president and chief executive
officer of CarMax. "We are dedicated to providing a positive and rewarding
workplace for our most valuable asset, the more than 15,000 CarMax associates.
Their commitment to deliver an unparalleled consumer experience is the
backbone of our success and the key to our continued growth."
CarMax is promoting healthy living and helping associates get the
information they need to lead happy, productive lives with its newly expanded
Associate Health and Wellness Program. This program includes on-site health
fairs that provide associates with health screenings, on-site health
professionals available to answer health-related questions and provide basic
blood pressure and weight screenings and Weight Watchers and Free and Clear
Tobacco Cessation programs. More than a third of our associates have had
access to a health fair or on-site nurses this past year and the program
continues to expand to more CarMax store locations each year.
In addition, CarMax offers a $4,000 adoption benefit, a tuition assistance
program and health insurance for domestic partners and their children. The
company focuses on providing a healthy work-life balance, encouraging
professional and leadership development, hiring a diverse group of associates
and supporting community involvement.
"Our commitment to giving back to the community where our associates live
and work remains an important part of our company culture," Folliard said.
CarMax gives a portion of pre-tax profits to the CarMax Foundation each year.
The CarMax Foundation has given more than $4.6 million dollars to nonprofit
organizations since it was established in 2003. This past year, the CarMax
Foundation launched a new Regional Giving Program that will provide grants to
qualifying nonprofit organizations that have programs focused on education and
youth leadership. Each of CarMax's seven regions will grant $100,000 annually
to organizations in their local markets, bringing the total amount to $700,000
nationwide, which will directly benefit local communities each year.
CarMax offers consumers a no-hassle, no-haggle car-buying experience and a
broad selection of high-quality used vehicles. CarMax guarantees the quality
of the cars sold, does not sell flood- or frame-damaged vehicles, and
guarantees a clean title and accurate odometer readings on its cars. All
vehicles are thoroughly inspected and reconditioned, and CarMax offers a
five-day, money-back guarantee and a limited 30-day warranty (60-day in
Conn.).
FORTUNE's annual ranking of companies is based primarily upon a
confidential, random survey of associates, as well as an evaluation of a
company's culture, compensation, training, and turnover.
About CarMax
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2008 "100 Best
Companies to Work For," is the nation's largest retailer of used cars.
Headquartered in Richmond, Va., CarMax currently operates 88 used car
superstores in 41 markets. CarMax also operates six new car franchises, all of
which are integrated or co-located with its used car superstores. The CarMax
consumer offer is structured around four customer benefits: low, no-haggle
prices; a broad selection; high quality vehicles; and customer-friendly
service. During the twelve months ended February 28, 2007, the company
retailed 337,021 used vehicles and sold 208,959 wholesale vehicles at its
n-store auctions. For more information, access the CarMax website at
http://www.carmax.com.
(Logo: http://www.newscom.com/cgi-bin/prnh/20011214/CARMAXLOGO )
SOURCE CarMax, Inc.

Media: Lisa Van Riper, Assistant Vice President, Public Affairs,
+1-804-935-4594, or Trina H. Lee, Public Relations Manager, +1-804-747-0422,
ext. 4197, or Investor: Katharine Kenny, Assistant Vice President, Investor
Relations, +1-804-935-4591, or Celeste Gunter, Manager, Investor Relations,
+1-804-935-4597, all of CarMax, Inc.