Outlines Company's Strong Operational and Financial                 Performance Since Ezra Dabah Resigned;        Urges Stockholders to Vote the WHITE Proxy Card and Support    the Company's Highly Qualified and Independent Incumbent Nominees 

SECAUCUS, N.J., June 29, 2009 (GLOBE NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE) today announced that it has filed an investor presentation with the Securities and Exchange Commission ("SEC") in connection with the Company's 2009 Annual Meeting of Stockholders to be held on July 31, 2009. The Children's Place's Board of Directors recommends that stockholders vote FOR the Company's three highly qualified and independent incumbent directors up for election - Sally Frame Kasaks, Malcolm Elvey, and Norman Matthews - on the WHITE proxy card, rejecting the three hand-picked nominees of former Chairman and CEO Ezra Dabah. Since Mr. Dabah and his father-in-law Stanley Silverstein are existing members of the Board, election of Mr. Dabah's three hand-picked nominees would result in five of the nine members of the Company's Board being Mr. Dabah's personal designees.

Highlights of the presentation include:

    * A detailed account of achievements by the Company's current Board    and management, including the decisive steps taken to turnaround    and revitalize the business after Mr. Dabah was forced to resign    as CEO in September 2007 after Deloitte & Touche, then the    Company's auditors, told the Board it was no longer willing to    rely on his representations in connection with its audits.    -   In the 21 months since Mr. Dabah's resignation, the Company        has performed very well operationally and financially        despite a recessionary economy and negative industry trends.    -   The Company is performing well based on various metrics        including: overall sales growth; comparable retail sales        growth; operating margin; liquidity; and earnings per share.    -   Importantly, the Company's stock price has outperformed all        15 companies in its peer group since the beginning of fiscal        2008. Shares of The Children's Place appreciated 39% for        fiscal 2008-2009 year-to-date (through June 19, 2009) far        ahead of the S&P Retail Index which is down 22%.    -   This success has been a direct result of the Board's        commitment to achieving measured growth, increased        profitability and enhanced liquidity.        * An in-depth review of the tumultuous last years of Mr. Dabah's    reign at The Children's Place, including an analysis of his    ill-conceived and badly executed strategy and his disregard of    accepted corporate governance standards.    -   During this period, Mr.