SECAUCUS, N.J.--(BUSINESS WIRE)--Sept. 7, 2004--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced the election of Chuck Crovitz, 51, to the Company's Board of Directors. Mr. Crovitz has been named Chairman of the compensation committee. With his appointment, The Children's Place Board will have seven directors - four of whom are independent as defined by Nasdaq.

Chuck Crovitz is a 25-year retail veteran who began his career at McKinsey & Co., consulting retail clients in the areas of strategy, organization and operations. Most recently, Mr. Crovitz was the Executive Vice President & Chief Supply Chain Officer for Gap Inc. (NYSE: GPS) where he spent the last 10 years. Prior to Gap, he was Senior Vice President, Management Information Systems of Safeway (NYSE: SWY) one of the largest grocery retailers in North America. Mr. Crovitz serves on the Board of Quick Response Systems (Nasdaq: QRSI) and is Chairman of the compensation committee. He received his undergraduate degree from University of California, Berkeley, and his MBA and JD from Stanford.

"We are delighted to welcome Chuck to our Board of Directors," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place. "Chuck's operational expertise will be valuable to our Company, particularly as we implement our growth initiatives."

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 August 28, 2004, the Company operated 721 stores, including 671 stores in the United States, 48 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.