SECAUCUS, New Jersey--(BUSINESS WIRE)--Nov. 11, 2004--The Children's Place Retail Stores, Inc. (NASDAQ: PLCE), today announced three executive promotions to recognize team members' exceptional contributions and to realign the Company's deep and experienced management team as The Children's Place prepares for its next phase of growth.

Steven Balasiano, previously Vice President and General Counsel, has been named General Counsel and Senior Vice President, Chief Administrative Officer; Richard Flaks, previously Vice President, Planning and Allocation, has been named Senior Vice President, Planning, Allocation and Information Technology; and Mark Rose, previously Vice President, Merchandise Procurement has been named Senior Vice President, Chief Supply Chain Officer. These appointments also reflect a reallocation of corporate responsibilities as Senior Vice President Mario Ciampi transitions into his new role as President of the Company's subsidiary, which will own and operate the Disney Store chain in North America upon the closing of the transaction. Mr. Balasiano will continue to report to Ezra Dabah, Chairman and Chief Executive Officer, and Mr. Flaks and Mr. Rose will continue to report to Neal Goldberg, President.

Steven Balasiano, 42, joined The Children's Place in December 1995 as Vice President and General Counsel. From 2000 until September 2003, he also oversaw Human Resources. Prior to joining The Children's Place, Mr. Balasiano practiced law in the New York offices of the national law firms of Stroock & Stroock & Lavan LLP from 1992 to 1995 and Kelley Drye & Warren from 1987 to 1992. With this appointment, Mr. Balasiano will resume his previous role as head of Human Resources, replacing Elaine Eisenman, who has left the Company to pursue other interests.

"Steve has served as a trusted advisor since joining us and has played an important role in our pending Disney Store acquisition and our ongoing efforts to enhance corporate governance," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place. "Steve's added responsibilities are a natural fit and his strong leadership skills will continue to have a positive impact on our business."

Richard Flaks, 42, has served as Vice President, Planning and Allocation since joining The Children's Place in March 2003. Prior to joining The Children's Place, Mr. Flaks was with the Victoria's Secret Stores division of Limited Brands, Inc. from May 2001 to March 2003, most recently serving as Vice President, Planning and Allocation. Prior to that, Mr. Flaks served in numerous capacities with the Burdines division of Federated Department Stores, Inc. from 1997 to 2001, most recently serving as Vice President, Planning and Allocation for the Men's, Kids and Home departments.

Mr. Dabah continued, "Richard's planning and allocation strategies are contributing to the strong comparable store sales growth and full price selling we are experiencing. Richard is a superb partner to our design, merchant and procurement teams and his strategic thinking will translate extremely well as we broaden his areas of responsibility."

Mark L. Rose, 39, has served as Vice President, Merchandise Procurement at The Children's Place since 1992. Mr. Rose joined The Children's Place in 1990 and was promoted to Senior Product Buyer that year. Prior to joining The Children's Place, Mr. Rose held various positions at Macy's.

Mr. Dabah commented, "Throughout the years, Mark has spearheaded our product sourcing efforts, and has been instrumental in establishing product sourcing as our core competency. His expertise has played a pivotal role in strengthening our quality/value equation, which is resulting in market share gains and an enhanced competitive positioning. I am confident that Mark will positively impact our supply chain and distribution capabilities."

Neal Goldberg, President of The Children's Place, commented, "We are delighted to recognize the important contributions that Steve, Richard and Mark have made throughout the years. These promotions reflect our confidence in the proven ability of these team members to lead and consistently execute at the highest level. We look forward to their continued contributions as we move closer to our goal of becoming the leading specialty retailer in the newborn to age 10 category."

The Children's Place Retail Stores, Inc. is a leading specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age ten. The Company designs, contracts to manufacture and sells its products under the "The Children's Place" brand name. As of October 30, 2004, the Company operated 734 stores, including 678 stores in the United States, 54 stores in Canada, and two stores in Puerto Rico. The Company also sells its merchandise through its virtual store located at www.childrensplace.com.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Company's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by The Children's Place or any other person that the events or circumstances described in such statement are material.

    CONTACT: The Children's Place
             Heather Anthony, 201-558-2865

    SOURCE: The Children's Place Retail Stores, Inc.