SECAUCUS, N.J.--(BUSINESS WIRE)--Aug. 17, 2006--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced the election of James Goldman, 48, to the Company's Board of Directors. Mr. Goldman has been appointed to the Compensation Committee. With his appointment, the Company's Board will have seven directors - five of whom are independent as defined by Nasdaq.

Mr. Goldman has served as President, Worldwide of Godiva Chocolatier, Inc., a subsidiary of Campbell Soup Company, Inc., since 2004. Prior to that, Mr. Goldman held the position of President, North America Food and Beverage, Campbell Soup Company, Inc. Before joining Campbell Soup, Mr. Goldman held various senior management positions with Nabisco, Inc. including President Lifesavers Company; President, Nabisco Margarine Company; and Vice President, Marketing, Nabisco Refrigerated Foods Company. Earlier in his career, Mr. Goldman was a Senior Consulting Associate at McKinsey & Company, Inc.

"We are delighted to welcome Jim to our Board of Directors," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place Retail Stores, Inc. "Jim's expertise will be invaluable to our Company, as we continue to grow our brands and take each to the next level."

The Children's Place Retail Stores, Inc. is a leading specialty retailer of children's merchandise. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary "The Children's Place" and licensed "Disney Store" brand names. As of July 29, 2006, the Company owned and operated 822 The Children's Place stores and 320 Disney Stores in North America and The Children's Place online store 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 Retail Stores Inc.
Susan LaBar, Investor Relations Analyst, 201/453-6955

SOURCE: The Children's Place Retail Stores Inc.