SECAUCUS, N.J.--(BUSINESS WIRE)--Sept. 3, 2003--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced that Brian Kleinberg, 46, has joined the Company in the position of Senior Vice President of Marketing. In this capacity, Mr. Kleinberg will be responsible for steering the Company's overall marketing strategy and executing programs that build long-term brand equity and deliver value to the customer and the Company.

"Brian is a great addition to our team," said Ezra Dabah, Chairman and Chief Executive Officer. "His experience creating innovative marketing programs combined with his expertise in customer acquisition, loyalty and retention strategies will enable us to reach our customers in new and exciting ways and further build awareness of our brand."

The majority of Mr. Kleinberg's career includes more than 18 years with the American Express Company (NYSE: AXP), where he held numerous senior executive positions in the Travel Related Services and Financial Advisors business units. His range of accomplishments include developing and launching the Company's first general purpose Optima credit card, bringing to market an integrated retail strategy for American Express Financial Advisors' products and designing and managing a portfolio of unique and compelling consumer card products. Prior to joining The Children's Place, Mr. Kleinberg co-founded Stratim Group, LLC, a marketing services firm that provides strategic consulting and marketing program development and implementation. Before Stratim Group, he spent two years as the Chief Executive Officer of Singer Asset Finance Company, LLC, a wholly-owned subsidiary of Enhance Financial Services Group. Mr. Kleinberg holds a BA in Economics from the State University of New York at Binghamton and an MBA degree in Marketing from Boston University.

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 30, 2003, the Company operated 682 stores, including 644 stores in the United States and 38 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
             Investor Relations:
             Heather Anthony, 201-558-2865

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