Secaucus, New Jersey - May 4, 2000 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $130.1 million for the fourth quarter ended April 29, 2000, an increase of 40% from sales of $92.6 million for the same period last year. Comparable store sales for the period increased 5%, compared to a 32% increase for the first quarter of 1999.

"We are pleased with our 5% comp store gain on top of a very strong 32% comp achieved in the first quarter of 1999," said Ezra Dabah, Chairman and Chief Executive Officer. "I am excited to report that The Children's Place is quickly establishing itself as a national brand with the Company opening a record 43 new stores in the quarter, half of which are in new markets, including our first 13 stores in the West Coast. The new stores that we have opened this quarter have exceeded our expectations. Widespread customer acceptance of our unique store formula, especially in new markets, reinforces our confidence in our growth plans."

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 April 29, 2000 the Company operated 335 stores in 40 states and sells its 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 to obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof.