SECAUCUS, N.J., Nov 14, 2007 (PrimeNewswire via COMTEX News Network) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), today announced that it was unable to complete and file its delinquent SEC reports by end of business today, the previous deadline imposed by the Board of Directors of the Nasdaq Stock Market, but that the Company has been granted an extension until January 9, 2008 by the Nasdaq Board to file all of its delinquent periodic reports to regain compliance with Rule 4310(c)(14).

While the Company continues to believe it will be able to file its financial reports soon, there is no assurance that the Company will be able to meet the new deadline, and if it does not, there is no assurance that the Nasdaq Board will grant the Company additional time to become compliant. If the Company has not regained compliance by January 2, 2008, it will need to explain to the Nasdaq Staff the reasons for its inability to do so, in order for the Nasdaq Board to consider whether any further extension is warranted. If the Company fails to come into compliance by January 9, 2008, or any extended deadline, the Company anticipates that its shares will be delisted.

As stated in the Company's November 8, 2007 press release, while previously disclosed events have slowed the process of becoming current in its financial reporting obligations, the Company noted that none of those events have resulted in, nor has the Company uncovered, any other material financial misstatements.

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 November 3, 2007, the Company owned and operated 907 The Children's Place stores and 328 Disney Stores in North America and its online stores at www.childrensplace.com and www.disneystore.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, as well as the risks and uncertainties relating to the Company's stock option granting practices and the completed investigation by the special committee of the Company's Board of Directors, the previously announced pending restatement of the Company's historical financial statements, the delays in filing the Company's periodic reports with the Securities and Exchange Commission, the pending Nasdaq proceedings regarding the Company's continued listing, the outcome of the informal investigation of the Company being conducted by the Securities and Exchange Commission, potential other governmental proceedings, the shareholder litigation commenced against the Company and certain of its officers and directors, and the potential impact of each of these matters on the Company. 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. The Company undertakes 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 Company or any other person that the events or circumstances described in such statement are material.

This news release was distributed by PrimeNewswire, www.primenewswire.com

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

The Children's Place Retail Stores, Inc.
Investors:
Susan Riley, EVP, Finance & Administration
(201) 558-2400
Heather Anthony, Senior Director, Investor Relations
(201) 558-2865

FD
Media:
Cara O'Brien
Leigh Parrish
(212) 850-5600