First Store Set To Open At Woodbury Common Premium Outlets in New York; Five Additional Outlets to Open This Year

GLENDALE, Calif. – March 24, 2005 – Disney Store North America, a wholly-owned subsidiary of The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), announced today that it is expanding into the retail outlet arena and will officially open its first outlet location in New York this weekend. This important milestone signals the first move in real estate strategy since The Children's Place acquired the company in November of last year.

The new Disney Store at Woodbury Common Premium Outlets encompasses more than 7,000 square feet. Five additional outlets are planned to open this year in California, Arizona, Illinois, Tennessee and Ontario Canada.

“We are very excited to introduce Disney Store to outlet customers, who are extremely brand-conscious and passionate about shopping,” said Mario Ciampi, president of Disney Store. “Our outlet stores will offer a magical, Disney-themed retail environment complementary to our mall-based Disney Stores. Given the power of the Disney brand and The Children's Place experience in this channel, we believe the outlet venue will be an effective way to grow the business.”

Disney Store Outlet's grand opening assortment includes spring fashion along with all the traditional favorites: swimwear and accessories, beach towels, pajamas, character tees, plush toys, Disney Princess dolls and Disney action figures. Shoppers will also find an ongoing selection of special clearance items. Disney Store Outlet will offer a variety of high-quality merchandise with no irregulars or seconds.

Disney Store Outlet's grand opening at Woodbury Common Premium Outlets will be held March 25-27 at 633 Bluebird Court in Central Valley, NY. Guests will receive free balloons, and Mickey Mouse Ears with a purchase of $30 or more while supplies last.

Woodbury Common Premium Outlets is located one hour north of Manhattan in Central Valley, NY. Woodbury Common Premium Outlets offers the world's largest collection of designer name-brand outlet stores. For store hours, visit www.premiumoutlets.com/woodburycommon or call 845-928-7467.

About Disney Store North America

Disney Store originated the themed retail environment when it opened its first store in Glendale, California in 1987. Disney Store currently operates over 300 locations in the United States and Canada that offer immediate access to magical Disney products. On November 21, 2004, The Children's Place Retail Stores, Inc., a leading specialty retailer of apparel and accessories for children, acquired Disney Store retail chain in North America and now operates it as a wholly-owned subsidiary.

Company Contacts:
Press: Tamara Gentry
Disney Store
818-265-4147
tgentry@childrensplace.com

Investors: Heather Anthony
201-558-2865

Media Contact:
Norma Rosenfield
Rosenfield PR
818-591-2264
norma@rosenfieldpr.com