RICHMOND, Va., Aug. 19 /PRNewswire-FirstCall/ -- Circuit City Stores, Inc. (NYSE: CC) today announced that director James A. Marcum, 49, has been appointed vice chairman of the company. In this executive officer position, Marcum will play a key role in leading the efforts to accelerate the pace of the company's turnaround.

'The board and I selected Jim for this role because he is a highly-experienced retail turnaround executive,' said Philip J. Schoonover, Circuit City's chairman, president and chief executive officer. 'I believe he will be a great partner to me and the rest of the management team as we focus on ways to improve our business. Today's announcement shows that the management team remains fully committed to delivering value to shareholders in the near term through the successful execution of our turnaround plan. Meanwhile, the board continues to pursue strategic alternatives for the company that offer the best possible results for our shareholders in the long term.'

'I am pleased to be working with the company's board of directors, management team, associates, partners and vendors to execute a successful turnaround,' said Marcum. 'Circuit City, as a leader in the consumer electronics industry, has a long history of providing its customers with brand name consumer electronics and a high level of service. We will measure the success of our turnaround by how well we execute in providing a superior consumer electronics shopping experience for our customers as well as our ability to generate better productivity and financial returns from our asset base. We are confident that we possess the keys to a successful turnaround -- the support of our vendors and other business partners, access to sufficient liquidity under our asset-based credit facility and the dedication of our experienced management team.'

About Circuit City Stores, Inc.

Circuit City Stores, Inc. (NYSE: CC) is a leading specialty retailer of consumer electronics and related services. At May 31, the domestic segment operated 687 Superstores and 9 outlets stores in 158 U.S. media markets. At May 31, the international segment operated through 775 retail stores and dealer outlets in Canada. Circuit City also operates Web sites at www.circuitcity.com, www.thesource.ca and www.firedog.com.

Forward-Looking Statements

Statements made in this release, other than those concerning historical financial information, may be considered forward-looking statements, which are subject to risks and uncertainties, including without limitation: (1) the impact of pricing and promotional activities of the company's competitors and the company's response to those actions, (2) the pace of commoditization of consumer electronics, (3) the ability of vendors to fulfill merchandise orders and allocation commitments, (4) the impact of a significant change in the relationships with key vendors, (5) the company's ability to control and leverage expenses as a percentage of sales, (6) general economic conditions, including, without limitation, changes in interest rates, consumer sentiment and commodity pricing, (7) the company's ability to generate sales and margin growth through expanded service offerings, (8) the company's ability to continue to generate strong sales growth in key product categories and through its direct sales channel, (9) the impact of initiatives related to transforming retail processes and upgrading merchandising, point-of-sale and information systems on revenue and margin and the costs associated with these investments, (10) the availability of real estate that meets the company's criteria for new and relocating stores, (11) regulatory and litigation matters, (12) the availability of sources of liquidity to fund capital expenditures and working capital, (13) the company's strategic evaluation of the international segment, including the impact of changes in credit markets, (14) the company's ability to recover its deferred tax assets through future profitability and (15) the impact of any strategic alternatives that the company may pursue. Discussion of additional factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is set forth under Management's Discussion and Analysis of Results of Operations and Financial Condition in the Circuit City Stores, Inc. annual report on Form 10-K for the fiscal year ended February 29, 2008, in the quarterly report on Form 10-Q for the fiscal quarter ended May 31, 2008, and in the company's other SEC filings. A copy of the annual report is available on the company's investor information Web site at http://investor.circuitcity.com.

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SOURCE Circuit City Stores, Inc.