SECAUCUS, N.J.--(BUSINESS WIRE)--Nov. 12, 2003--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced that Glenn Kaufman, 48, has joined the Company in the newly created position of Vice President, Chief Learning Officer. In this capacity, Mr. Kaufman will be responsible for training and leadership development in support of the Company's strategic objectives. He will report directly to Dr. Elaine Eisenman, Senior Vice President of Human Resources and Administration.

"We are delighted to have Glenn join The Children's Place," said Dr. Eisenman. "Glenn is a strong leader who has built highly effective teams throughout his career. Enhancing our associate capabilities is a key strategic initiative of ours, and we look forward to the positive contributions Glenn will make as we focus on developing our talent and growing our business."

For the past year, Mr. Kaufman has worked as an independent consultant, helping clients to build cross-cultural organization effectiveness, leadership development and training strategies. Previously, Mr. Kaufman was Vice President, Global Human Resource Development Services at American Express Company (NYSE: AXP), where he spent ten years in increasing roles of responsibility. Before American Express, Mr. Kaufman worked for six years at Shearson Lehman Brothers, where he achieved the position of First Vice President, Human Resources Strategy and Planning. Mr. Kaufman holds a BA from Franklin Pierce College, a Masters of Education from Antioch University and attended the Labor Relations program at Cornell University/CUNY.

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 November 1, 2003, the Company operated 689 stores, including 649 stores in the United States and 40 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: Investor Relations
             The Children's Place
             Heather Anthony, 201-558-2865

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