RICHMOND, VA – CarMax, Inc. has announced that its Board of Directors has approved a two-for-one split in the form of a share dividend of the CarMax, Inc. common stock.

Each shareholder of record at the close of business on March 19, 2007, will be issued one additional share of common stock for every issued and outstanding share owned as of that date. The additional shares will be distributed by book entry on March 26, 2007.

Shareholders may receive physical stock certificates upon request.

Trading of CarMax shares on a split-adjusted basis will begin at the start of trading on March 27, 2007. As a result of the stock split, the number of shares outstanding will increase to approximately 216 million shares.