- Requests for Debtor-in-Possession Financing Granted, Allowing the Company to Pay Vendors -

- Court Provides Company Authority to Pay Wages and Various Benefits to Associates and to Honor Customer Programs -

RICHMOND, Va., Nov. 10 /PRNewswire-FirstCall/ -- Circuit City Stores, Inc. today announced it has received approval for its first day motions from the United States Bankruptcy Court for the Eastern District of Virginia in Richmond. These motions were submitted November 10, 2008, as part of Circuit City's voluntary filing for reorganization relief under Chapter 11 of the United States Bankruptcy Code.

Circuit City received court approval for a $1.1 billion debtor-in- possession ('DIP') revolving credit facility to supplement its working capital and provide additional liquidity while it works to reorganize the business. This financing is being provided by the lenders of Circuit City's current asset-based credit facility and enables the company to pay vendors and other business partners in the ordinary course for goods and services received after the filing.

Among other first day motions, Circuit City received authority to continue to make wage and salary payments and continue various benefits for associates as well as honor customer programs, such as returns, exchanges and gift cards, and other pre-petition customer obligations.

'We are pleased to have obtained court approval for our first day motions, a critical first step in Circuit City's reorganization process,' said James A. Marcum, vice chairman and acting president and chief executive officer of Circuit City Stores, Inc. 'These approvals will help position us for a more successful holiday selling season and allow us to operate our business and serve our valued guests without interruption as we work to emerge from Chapter 11 as quickly as possible.'

The case number for Circuit City Stores, Inc.'s filing is 08-35653. Additional information on the filing can be found by visiting the company's investor information home page at http://investor.circuitcity.com and clicking the link for 'Breaking News' and at the Claims Agent's Web site at www.kccllc.net/circuitcity.

About Circuit City Stores, Inc.

Circuit City Stores, Inc. is a leading specialty retailer of consumer electronics and related services. At October 31, the domestic segment operated 712 Superstores and 9 outlet stores in 165 U.S. media markets.