Secaucus, New Jersey - July 11, 2000 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) announced today that it has promoted Mario Ciampi to the position of Senior Vice President of Store Development and Logistics.

Mr. Ciampi, age 40, who was retained as a real estate consultant to The Children's Place in 1992 and joined the Company in 1996 as Vice President of Store Development, has played an instrumental role in the Company's aggressive store opening campaign and in establishing The Children's Place as a national brand with 351 stores in 41 states. In addition to continuing to oversee the Company's real estate strategy and development, Mr. Ciampi will assume direct responsibility for the distribution of merchandise to the Company's nationwide store base. Prior to joining The Children's Place, Mr. Ciampi was a principal of a real estate consulting firm.

Ezra Dabah, Chairman of the Board and Chief Executive Officer of The Children's Place, commented, "We are delighted to recognize Mario for his significant contributions to the Company's superior growth over the years, most recently as a driving force in the expansion of our store base into the West Coast. In his new role of increased responsibility, we look forward to the added benefit of having Mario apply his experience and talent to a much higher degree in the Company's operations."

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. The Company currently operates 351 stores in 41 states and also sells merchandise through its World Wide Web site located at www.childrensplace.com.

This press release contains 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. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof.