SECAUCUS, N.J., Apr 1, 2003 (BUSINESS WIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced that Richard Flaks, 40, has joined the Company in the position of Vice President of Planning and Allocation.

"Richard is a great addition to our team," said Ezra Dabah, Chairman and Chief Executive Officer. "He is a proven leader with strong experience in planning and allocation strategies across a diverse group of retailers. His knowledge of this critical function will help us achieve our long-term objectives."

Mr. Flaks joins The Children's Place from the Victoria's Secret Stores division of Limited Brands (NYSE: LTD), where he was most recently Vice President, Planning and Allocation. Prior to Victoria's Secret, Mr. Flaks spent four years with the Burdine's Division of Federated Department Stores, Inc. (NYSE: FD), most recently as Vice President of Planning for the Men's, Kid's and Home departments. Before joining Burdine's, Mr. Flaks spent three years with Today's Man, Inc. in various planning roles. Mr. Flaks holds an MBA degree from the University of Witwatersrand in Johannesburg, South Africa.

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 twelve. The Company designs, contracts to manufacture and sells its products under the "The Children's Place" brand name. As of March 1, 2003, the Company operated 643 stores, including 615 stores in the United States and 28 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.

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

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