The Children's Place Retail Stores, Inc. Announces Results of Annual Meeting of Stockholders

SECAUCUS, N.J., June 27, 2008 (PRIME NEWSWIRE) -- The Children's Place Retail Stores, Inc. announced the results of its Annual Meeting of Stockholders held today.

All six proposals that the stockholders voted on were approved, including:

 * The election of directors:
   -- Robert Fisch, Louis Lipschitz and Stanley Silverstein were
      elected Class I directors to serve for a two-year term
      expiring in 2010.
   -- Joseph Alutto, Charles Crovitz and Ezra Dabah were elected
      Class II directors to serve for a three-year term expiring in
      2011.
 * The ratification of the appointment of BDO Seidman, LLP as the
   Company's independent registered public accounting firm for the
   fiscal year ending January 31, 2009.
 * The approval of the 2007 Annual Management Incentive Bonus Plan.
 * The approval of an amendment to the Company's certificate of
   incorporation to provide for majority voting in director
   elections.
 * The approval of an amendment to the Company's Amended and
   Restated 2005 Equity Incentive Plan regarding non-employee
   director compensation.
 * The approval of an amendment to the Company's Amended and
   Restated 2005 Equity Incentive Plan limiting awards that can be
   made to a participant in any one year.

"We are grateful that our stockholders supported all of the Company's proposals," commented Sally Frame Kasaks, Acting Chair of the Board and Lead Director. "I am also pleased to announce that with the holding of the 2008 Annual Meeting of Stockholders, we believe The Children's Place Retail Stores, Inc. is now in full compliance with all Nasdaq listing requirements."

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" brand name. As of May 31, 2008, the Company owned and operated 905 The Children's Place stores and its 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. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of its report on Form 10-K. Risks and uncertainties relating to the exit of the DSNA business, including the risk that claims may be asserted against the Company or its subsidiaries other than Hoop, whether or not such claims have any merit, and the Company's ability to successfully defend such claims, in addition to the risk that the Company may not be able to access, if necessary, additional sources of liquidity or obtain financing on commercially reasonable terms or at all, the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the highly competitive nature of the Company's business and its dependence on consumer spending patterns, which may be affected by the downturn in the economy, as well as risks and uncertainties relating to other elements of the Company's strategic review, could cause actual results, events and performance, to differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. 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.

CONTACT: The Children's Place Retail Stores, Inc.
         Investor Relations
         Jane Singer
         (201) 453-6955

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