SECAUCUS, N.J.--(BUSINESS WIRE)--June 28, 2004--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced the election of Robert Fisch to the Company's Board of Directors. Mr. Fisch has been appointed to the Audit Committee.

Robert Fisch, 54, is a 30-year retail veteran who began his retail career at Abraham & Straus in New York. Currently, Mr. Fisch is President and Chief Executive Officer of rue21, a leading specialty retailer of value priced apparel for young women and men with over 185 stores across the United States. Prior to joining rue21, he was President of Casual Corner Group, Inc. and founder of the Casual Corner & Co. division. Before Casual Corner, Mr. Fisch was President and Chief Executive Officer of T.H. Mandy for U.S. Shoe Corporation and Senior Vice President of Jordan Marsh, a division of Federated Department Stores.

"We are delighted to welcome Bob Fisch to our Board of Directors and I look forward to working closely together," said Ezra Dabah, Chairman and Chief Executive Officer. "Bob's extensive retail and financial expertise will serve our Company well as we execute our growth strategies."

Mr. Fisch replaces David Oddi, who did not stand for re-election to the Board. Mr. Oddi has served on The Children's Place's Board of Directors since 1997. With these announcements, the size of the Company's Board of Directors remains at six.

Mr. Dabah concluded, "David Oddi has provided great support to our Company over the years. On behalf of the Board, I thank David for his many contributions."

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 May 29, 2004, the Company operated 711 stores, including 665 stores in the United States and 46 stores in Canada. 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.