<SUBMISSION>
<ACCESSION-NUMBER>0001104659-09-038343
<TYPE>DEFA14A
<PUBLIC-DOCUMENT-COUNT>3
<FILING-DATE>20090616
<DATE-OF-FILING-DATE-CHANGE>20090616
<EFFECTIVENESS-DATE>20090616
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CHILDRENS PLACE RETAIL STORES INC
<CIK>0001041859
<ASSIGNED-SIC>5651
<IRS-NUMBER>311241495
<FISCAL-YEAR-END>0131
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEFA14A
<ACT>34
<FILE-NUMBER>000-23071
<FILM-NUMBER>09893962
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>915 SECAUCUS RD
<CITY>SECAUCUS
<STATE>NJ
<ZIP>07094
<PHONE>2015582400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>915 SECAUCUS RD
<CITY>SECAUCUS
<STATE>NJ
<ZIP>07094
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>a09-14723_4defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">SCHEDULE 14A INFORMATION </font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy
  Statement Pursuant to Section 14(a) of<br>
  the Securities Exchange Act of 1934 </font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed by the Registrant&nbsp;&nbsp;</font><font face="Wingdings">x</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed by a Party other than the Registrant</font>&nbsp;&nbsp;<font face="Wingdings">o</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box:</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preliminary Proxy Statement</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Confidential, for
  Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitive Proxy Statement</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitive Additional Materials</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting Material Pursuant to
  &#167;240.14a-12</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Children&#146;s Place Retail Stores, Inc.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name
  of Registrant as Specified In Its Charter)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name
  of Person(s) Filing Proxy Statement, if other than Registrant)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment of Filing Fee (Check the
  appropriate box):</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No fee required.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fee computed on table below per
  Exchange Act Rules 14a-6(i)(1) and 0-11.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title of each class of securities to
  which transaction applies:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate number of securities to
  which transaction applies:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Per unit price or other underlying
  value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth
  the amount on which the filing fee is calculated and state how it was
  determined):</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proposed maximum aggregate value of
  transaction:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total fee paid:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:4.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fee paid previously with preliminary
  materials.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="94%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:94.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check box if any part of the fee is
  offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing
  for which the offsetting fee was paid previously. Identify the previous
  filing by registration statement number, or the Form or Schedule and the date
  of its filing.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amount Previously Paid:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form, Schedule or Registration
  Statement No.:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filing Party:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date Filed:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.04%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.36%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="38" style="border:none;"></td>
  <td width="33" style="border:none;"></td>
  <td width="2" style="border:none;"></td>
  <td width="675" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-ba.htm',USER='105538',CD='Jun 16 22:23 2009' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On June&nbsp;16, 2009, The Children&#146;s Place Retail Stores,&nbsp;Inc.
(the &#147;Company&#148;), published the following press release and mailed the letter following
the press release to the Company&#146;s stockholders:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR
IMMEDIATE RELEASE</font></u></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h1>

<h2 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE CHILDREN&#146;S PLACE RETAIL STORES, INC. MAILS
DEFINITIVE PROXY MATERIALS</font></b></h2>

<h2 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sends Letter Seeking Stockholder Support for Company&#146;s</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Experienced and Independent Incumbent Directors;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Urges Stockholders to Reject Former CEO&#146;s Efforts</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">To Take Control of Company Without Paying For It</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Secaucus, NJ, June&nbsp;16, 2009 &#151; </font></b>The Children&#146;s
Place Retail Stores,&nbsp;Inc. (Nasdaq: PLCE) today announced it has filed a definitive proxy statement with the
Securities and Exchange Commission and has commenced mailing proxy materials to
The Children&#146;s Place stockholders to solicit votes for three highly qualified
and independent incumbent directors at the Company&#146;s 2009 Annual Meeting of
Stockholders on July&nbsp;31, 2009.&#160; The
Company has also sent a letter to all stockholders urging them to vote FOR the
Company&#146;s nominees, Sally Frame Kasaks, Malcolm Elvey, and Norman Matthews, on
the WHITE proxy card &#151; and to reject the hand-picked nominees of former
Chairman and CEO Ezra Dabah who is seeking to take control of the Company.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
the letter mailed to stockholders, the Company states that Ezra Dabah is trying
to take control of the Company without paying for it, noting that if Mr.&nbsp;Dabah&#146;s
nominees are elected he will have designated five of nine members of the
Board.&#160; Accordingly, the Company urges
stockholders to protect the value of their investment and support The Children&#146;s
Place&#146;s highly qualified independent directors who have overseen dramatic
improvements in performance and have created significant value.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
full text of the letter sent today to The Children&#146;s Place stockholders
follows:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;16,
2009</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Fellow Stockholder:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Since
September&nbsp;2007, the Board of Directors and management team of The Children&#146;s
Place Retail Stores,&nbsp;Inc. have taken decisive steps to rebuild and
strengthen your Company &#151; which has resulted in a significant increase in
shareholder value.&#160; Despite the
substantial progress that has been made, Ezra Dabah, the Company&#146;s former Chief
Executive Officer who resigned at the request of the Board in September&nbsp;2007
following serious corporate governance abuses, has launched a proxy fight to
replace three existing independent directors with his hand-picked nominees at
the Company&#146;s Annual Meeting of Stockholders, which is now scheduled for July&nbsp;31,
2009.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Since
Mr.&nbsp;Dabah and his father-in-law, Stanley Silverstein, are existing members
of the Board, election of Mr.&nbsp;Dabah&#146;s three hand-picked nominees would
result in five of the nine members of the Company&#146;s Board being Mr.&nbsp;Dabah&#146;s
personal designees.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THE CHILDREN&#146;S PLACE URGES YOU TO REJECT <br>
EZRA DABAH&#146;S EFFORTS TO TAKE CONTROL OF YOUR COMPANY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your
Board of Directors recommends that you reject Mr.&nbsp;Dabah&#146;s three nominees
and vote <b>FOR</b> the Company&#146;s highly
qualified independent directors, Sally Frame Kasaks, your lead director and
acting Chair, Malcolm Elvey, long-time chair of the Company&#146;s Audit Committee,
and Norman Matthews, a seasoned industry expert, on the enclosed <b>WHITE</b> proxy card today.&#160; Please discard any gold proxy cards you
receive from Mr.&nbsp;Dabah and vote the <b>WHITE
</b>proxy card today.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">We urge you to review carefully the enclosed proxy materials
since so much is at stake, namely control of your Company</font></u></b><u>.</u>&#160; If Mr.&nbsp;Dabah succeeds in
electing his three nominees, he will have vastly disproportionate
representation on the Board based on share ownership.&#160; More importantly, we believe that this would
give him control of the Company without paying anything to you and other
stockholders.&#160; We urge you to protect the
value of your investment &#151; and prevent Mr.&nbsp;Dabah from succeeding at what
we believe is an effort to steal the Company &#151; by voting <b>FOR</b> The Children&#146;s Place&#146;s three existing
directors.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">YOUR HIGHLY QUALIFIED INDEPENDENT DIRECTORS HAVE
OVERSEEN DRAMATIC IMPROVEMENTS IN PERFORMANCE AND HAVE CREATED SIGNIFICANT
VALUE &#151;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">KEEP THE MOMENTUM GOING AND VOTE THE COMPANY SLATE</font></u></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Children&#146;s Place has made significant changes to enhance its financial and
operational performance since September&nbsp;2007.&#160; Two of our nominees, Ms.&nbsp;Kasaks and Mr.&nbsp;Elvey,
were influential in that process and should be re-elected, as should Mr.&nbsp;Matthews,
who has already made significant contributions despite his short tenure.&#160; Furthermore, under the supervision of the
current Board and management team, The Children&#146;s Place has been revitalized
since Mr.&nbsp;Dabah&#146;s resignation and is now positioned as a leading
value-oriented specialty retailer of children&#146;s apparel and accessories.&#160; Ironically, Mr.&nbsp;Dabah is attempting to
replace directors who have overseen a remarkable turnaround at the Company
since he was removed by the Board as Chairman and forced to resign his CEO
position as a result of his misconduct.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">In
the 21 months since Mr.&nbsp;Dabah resigned, The Children&#146;s Place has performed
increasingly well and continues to improve despite a recessionary economy and
negative industry trends.&#160; In fact, The
Children&#146;s Place share price has appreciated 17% during this 21 month period
when many retailers have faltered and the S&amp;P Retail Index is down
30%.&#160; We believe this outperformance is
due</font> in large part</font> to the
initiatives put in place by the current management team and Board which have
significantly strengthened the business.&#160;
In contrast, in the last 21 months of Mr.&nbsp;Dabah&#146;s reign from January&nbsp;2006
to September&nbsp;2007, The Children&#146;s Place share price declined over 50%
during a period when the S&amp;P Retail Index was flat.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under
the current team, The Children&#146;s Place has reduced inventory levels, leveraged
its cost structure, significantly improved liquidity and strengthened its
balance sheet, and successfully re-launched its e-commerce business while
exiting the unprofitable Disney Store North America business (a business
entered into under Mr.&nbsp;Dabah&#146;s leadership).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
a result of the Company&#146;s actions, during fiscal year 2008:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Net sales and comparable store sales grew by
7% and 2%(1), respectively</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Share of the children&#146;s specialty apparel
market grew 120 basis points to 17.5%</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>SG&amp;A expenditures declined 70 basis
points to 29.6%</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Operating margins significantly increased to
7.2% from 4.5%</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Net income and diluted EPS (excluding
one-time items) grew 59%</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Return on invested capital (ROIC) doubled to
13%</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The year-end cash position was improved by
nearly $150 million, net of debt</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">And
despite the difficult economic environment in the first quarter of 2009, the
Company increased net sales, grew comparable store sales, and restructured many
of the ill-advised real estate commitments entered into by Mr.&nbsp;Dabah when
he was CEO.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DO NOT LET HISTORY REPEAT ITSELF &#151; STOP EZRA DABAH</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FROM REGAINING CONTROL OF YOUR COMPANY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
circumstances surrounding Mr.&nbsp;Dabah&#146;s departure, combined with his recent
actions, reinforce our strong belief that Mr.&nbsp;Dabah is only looking out
for his own interests and will place your investment at risk.&#160; We believe that he does <u>not</u> have the
best interests of The Children&#146;s Place stockholders in mind.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It
is important to remember that prior to Mr.&nbsp;Dabah&#146;s resignation, The
Children&#146;s Place was in disarray due largely to management missteps during Mr.&nbsp;Dabah&#146;s
tenure.&#160; Most notably, under Mr.&nbsp;Dabah&#146;s
stewardship, The Children&#146;s Place was facing many serious problems, including:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An investigation by a special committee of
the Board involving back-dating of stock options by Mr.&nbsp;Dabah and others,
which resulted in an investigation by the SEC.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An investigation by the Company&#146;s Audit
Committee which found that Mr.&nbsp;Dabah had violated the Company&#146;s code of
conduct with respect to securities transactions on three different occasions.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The notification by the Company&#146;s auditors,
Deloitte&nbsp;&amp; Touche LLP, that it was <u>no longer willing to rely on Mr.&nbsp;Dabah&#146;s
representations</u> in connection with its audits.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Excessive inventories coupled with major
fashion misses in the 2007 merchandise lines resulting in a 36% higher rate of
markdowns that significantly eroded gross margin.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Onerous remodeling requirements under the
Disney Store contract which forced the Company to make significant capital
expenditures on this ancillary business, draining resources and liquidity from
the core The Children&#146;s Place business. Furthermore, on Ezra Dabah&#146;s watch as
CEO, the Company was found to have been in breach of the contract it signed
with Disney.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A lavish new corporate headquarters planned
in Secaucus, NJ, which would have resulted in incremental lease costs and
increased capital expenditures at a challenging time for the Company.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It
has taken considerable time and effort to clean up the mess Mr.&nbsp;Dabah left
behind, and thanks to the leadership of management and the current Board of
Directors, The Children&#146;s Place has been restored to a position of strength as
a market leader.&#160; <u>Don&#146;t turn your
Company back over to </u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&nbsp;Comparable store sales
for 2008 increased 2% using the Company&#146;s previous reporting methodology (U.S.
and Canadian comparable stores sales based on U.S. dollars). Beginning February
2009, the Company began reporting consolidated comparable retail sales based on
constant dollars, including e-commerce sales. Using the current methodology,
comparable retail sales for 2008 increased 5%.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Dabah
and allow history to repeat itself.</font></u>&#160; We urge you to protect your
interests and vote <b>FOR</b> the Company&#146;s
directors.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EZRA DABAH WANTS CONTROL <u>WITHOUT</u> PAYING FOR IT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
is not the first time Ezra Dabah has sought control of The Children&#146;s Place
since he was ousted from management.&#160; At
his insistence, in October&nbsp;2007 the Company undertook a review of
strategic alternatives to enhance shareholder value and retained an investment
bank to assist in assessing a variety of options.&#160; According to his public filings, Mr.&nbsp;Dabah
expressed interest in acquiring the Company in February&nbsp;2008 for $24.00
per share.&#160; (We note that shares recently
traded over $30.00 per share.)&#160; Mr.&nbsp;Dabah
has disclosed that he and a private equity firm had &#147;participated in the
Company&#146;s sales process, conducted a due diligence review of the Company, and
ultimately determined not to submit a formal, binding acquisition proposal,
mainly due to the weak debt markets.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unable
or unwilling to raise enough money for an acquisition, Mr.&nbsp;Dabah has now
initiated a proxy contest that in our opinion is a calculated attempt to gain
control of the Company without paying a cent to stockholders.&#160; <u>Apparently, Mr.&nbsp;Dabah doesn&#146;t like to
pay retail</u>.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROTECT THE VALUE OF YOUR INVESTMENT:</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VOTE THE WHITE PROXY CARD TODAY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
believe Mr.&nbsp;Dabah&#146;s past conduct and management performance have cost The
Children&#146;s Place and its stockholders dearly, eroding its value and causing
great uncertainty among employees and in the marketplace.&#160; In the period since his ouster, the Company
has gone to great lengths to address the issues caused by Mr.&nbsp;Dabah and
create positive momentum both operationally and financially.&#160; The Company has performed very well in a
difficult economic environment, growing sales, expanding market share, cutting
costs, improving profitability, significantly enhancing the Company&#146;s liquidity
and strengthening its balance sheet &#151; all of which have significantly increased
the value of your investment.&#160; We urge
stockholders to vote <b>FOR</b> the
Company&#146;s proven slate of Ms.&nbsp;Kasaks, Mr.&nbsp;Elvey and Mr.&nbsp;Matthews
in order to continue this positive momentum.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Do
not return any gold proxy card you may receive from Mr.&nbsp;Dabah or otherwise
authorize a proxy to vote your shares for Mr.&nbsp;Dabah&#146;s nominees. If you
have already returned a gold proxy card to Mr.&nbsp;Dabah or otherwise
authorized a proxy to vote your shares for Mr.&nbsp;Dabah&#146;s nominees, it is not
too late to change your vote. To revoke your prior proxy and change your vote,
simply sign, date, and return the enclosed <b>WHITE</b>
proxy card today in the postage-paid envelope provided. Only your latest dated
proxy will be counted.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders
of record as of the close of business on June&nbsp;30, 2009 are entitled to
vote at the annual meeting.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mackenzie
Partners Inc. is assisting The Children&#146;s Place with its efforts to solicit
proxies. If you have any questions about voting your shares, please call
Mackenzie Partners Inc. toll-free at (800) 322-2885 (or call collect at (212)
929-5500) or email </font>childrensplace@mackenziepartners.com.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every
stockholder&#146;s vote is important, regardless of how many shares you own. To
ensure your vote is counted, submit your vote today on the <b>WHITE</b> proxy card so we receive it by July&nbsp;30</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank
you for your support.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very
truly yours,</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Charles
Crovitz</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member
of the Board of Directors</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and
Interim Chief Executive Officer</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Children&#146;s Place has sent stockholders WHITE proxy cards which should be
returned to vote FOR the Company&#146;s three director nominees. To vote FOR these
nominees, stockholders should sign, date and return the WHITE proxy card as
soon as it is received.&#160; MacKenzie
Partners,&nbsp;Inc. is acting as The Children&#146;s Place proxy solicitor and can
be reached toll-free at (800) 322-2885 or collect at (212) 929-5500. They can
also be reached by e-mail at childrensplace@mackenziepartners.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 2.0in;text-indent:-2.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About The Children&#146;s Place Retail
Stores,&nbsp;Inc.</font></b></p>

<p style="margin:0in 0in .0001pt 2.0in;text-indent:-2.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Children&#146;s Place Retail Stores,&nbsp;Inc. is a leading specialty retailer of
children&#146;s merchandise. The Company designs, contracts to manufacture and sells
high-quality, value-priced merchandise under the proprietary &#147;The Children&#146;s
Place&#148; brand name. As of May&nbsp;30, 2009, the Company owned and operated 926
The Children&#146;s Place stores and an online store at www.childrensplace.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Forward-Looking
Statements</font></b></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company&#146;s current expectations
and assumptions and are subject to various risks and uncertainties that could
cause actual results to differ materially. &nbsp;Some of these risks and
uncertainties are described in the Company&#146;s filings with the Securities and
Exchange Commission, including in the &#147;Risk Factors&#148; section of its annual
report on Form&nbsp;10-K for the fiscal year ended January&nbsp;30, 2009.
Included among the risks and uncertainties that could cause actual results,
events and performance to differ materially are the risk that the Company will
be unsuccessful in gauging fashion trends and changing consumer preferences,
and the risks resulting from the highly competitive nature of the Company&#146;s
business and its dependence on consumer spending patterns, which may be
affected by the downturn in the economy. &nbsp;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.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Important
Information</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has filed a
definitive proxy statement and other relevant documents concerning the 2009
Annual Meeting of Stockholders with the United States Securities and Exchange
Commission (&#147;SEC&#148;) on June&nbsp;16, 2009. Before soliciting proxies, the
Company will provide stockholders with the definitive proxy statement. The
Company advises stockholders to read the definitive proxy statement because it
contains important information about the election of directors and any other
matters to be presented at the 2009 Annual Meeting of Stockholders.
Stockholders may obtain free copies of the definitive proxy statement and other
documents the Company files with the SEC at the SEC&#146;s website at www.sec.gov.
They may also access a copy of the company&#146;s definitive proxy statement by
accessing www.viewourmaterial.com/plce. In addition, stockholders may obtain a
free copy of the definitive proxy statement and other related documents by
contacting MacKenzie Partners toll-free at (800) 322-2885 or call collect at
(212) 929-5500.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company, its directors,
some of its executive officers and certain other of its employees are
participants in the solicitation of proxies in respect of the matters to be
considered at the 2009 Annual </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Meeting of Stockholders.
Information about the participants is set forth in the definitive proxy
statement. Information about the participants&#146; direct or indirect interests in
the matters to be considered at the Annual Meeting is also contained in the
proxy statement referred to above.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONTACT:</font></b></p>

<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Investors</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jane
Singer</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice
President, Investor Relations, The Children&#146;s Place Retail Stores,&nbsp;Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(201)
453-6955</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Media:</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">George
Sard/Paul Caminiti/Nathaniel Garnick</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sard
Verbinnen&nbsp;&amp; Co</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(212)
687-8080</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594253\14723-4-bc.htm',USER='105538',CD='Jun 16 22:27 2009' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="122" height="80" src="g147234bei001.jpg"></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;16,
2009</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Fellow Stockholder:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Since
September&nbsp;2007, the Board of Directors and management team of The Children&#146;s
Place Retail Stores,&nbsp;Inc. have taken decisive steps to rebuild and
strengthen your Company &#151; which has resulted in a significant increase in
shareholder value. Despite the substantial progress that has been made, Ezra
Dabah, the Company&#146;s former Chief Executive Officer who resigned at the request
of the Board in September&nbsp;2007 following serious corporate governance
abuses, has launched a proxy fight to replace three existing independent
directors with his hand-picked nominees at the Company&#146;s Annual Meeting of
Stockholders, which is now scheduled for July&nbsp;31, 2009.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Since
Mr.&nbsp;Dabah and his father-in-law, Stanley Silverstein, are existing members
of the Board, election of Mr.&nbsp;Dabah&#146;s three hand-picked nominees would
result in five of the nine members of the Company&#146;s Board being Mr.&nbsp;Dabah&#146;s
personal designees.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THE CHILDREN&#146;S PLACE URGES YOU TO REJECT<br>
EZRA DABAH&#146;S EFFORTS TO TAKE CONTROL OF YOUR COMPANY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your
Board of Directors recommends that you reject Mr.&nbsp;Dabah&#146;s three nominees
and vote FOR the Company&#146;s highly qualified independent directors, Sally Frame
Kasaks, your lead director and acting Chair, Malcolm Elvey, long-time chair of
the Company&#146;s Audit Committee, and Norman Matthews, a seasoned industry expert,
on the enclosed </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WHITE </font></b><font size="2" style="font-size:10.0pt;">proxy card
today. Please discard any gold proxy cards you receive from Mr.&nbsp;Dabah and
vote the </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WHITE </font></b><font size="2" style="font-size:10.0pt;">proxy card
today.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">We urge you to review carefully the enclosed proxy materials
since so much is at stake, namely control of your Company</font></u></b><font size="2" style="font-size:10.0pt;">.</font><font size="2" style="font-size:10.0pt;"> If Mr.&nbsp;Dabah
succeeds in electing his three nominees, he will have vastly disproportionate
representation on the Board based on share ownership. More importantly, we believe
that this would give him control of the Company without paying anything to you
and other stockholders. We urge you to protect the value of your investment &#151;
and prevent Mr.&nbsp;Dabah from succeeding at what we believe is an effort to
steal the Company &#151; by voting </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">FOR </font></b><font size="2" style="font-size:10.0pt;">The Children&#146;s
Place&#146;s three existing directors.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">YOUR HIGHLY QUALIFIED INDEPENDENT DIRECTORS HAVE
OVERSEEN<br>
DRAMATIC IMPROVEMENTS IN PERFORMANCE AND HAVE CREATED<br>
SIGNIFICANT VALUE &#151; <u>KEEP THE MOMENTUM GOING AND VOTE<br>
THE COMPANY SLATE</u></font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Children&#146;s Place has made significant changes to enhance its financial and
operational performance since September&nbsp;2007. Two of our nominees, Ms.&nbsp;Kasaks
and Mr.&nbsp;Elvey, were influential in that process and should be re-elected,
as should Mr.&nbsp;Matthews, who has already made significant contributions
despite his short tenure. Furthermore, under the supervision of the current
Board and management team, The Children&#146;s Place has been revitalized since Mr.&nbsp;Dabah&#146;s
resignation and is now positioned as a leading value-oriented specialty
retailer of children&#146;s apparel and accessories. Ironically, Mr.&nbsp;Dabah is
attempting to replace directors who have overseen a remarkable turnaround at
the Company since he was removed by the Board as Chairman and forced to resign
his CEO position as a result of his misconduct.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594379\14723-4-be.htm',USER='105538',CD='Jun 16 23:00 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
the 21 months since Mr.&nbsp;Dabah resigned, The Children&#146;s Place has performed
increasingly well and continues to improve despite a recessionary economy and
negative industry trends. In fact, The Children&#146;s Place share price has
appreciated 17% during this 21 month period when many retailers have faltered
and the S&amp;P Retail Index is down 30%. We believe this outperformance is due
in large part to the initiatives put in place by the current management team
and Board which have significantly strengthened the business. In contrast, in
the last 21 months of Mr.&nbsp;Dabah&#146;s reign from January&nbsp;2006 to September&nbsp;2007,
The Children&#146;s Place share price declined over 50% during a period when the
S&amp;P Retail Index was flat.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under
the current team, The Children&#146;s Place has reduced inventory levels, leveraged
its cost structure, significantly improved liquidity and strengthened its
balance sheet, and successfully re-launched its e-commerce business while
exiting the unprofitable Disney Store North America business (a business
entered into under Mr.&nbsp;Dabah&#146;s leadership).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
a result of the Company&#146;s actions, during fiscal year 2008:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Net sales and comparable store sales grew by
7% and 2%(1), respectively</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Share of the children&#146;s specialty apparel
market grew 120 basis points to 17.5%</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">SG&amp;A expenditures declined 70 basis
points to 29.6%</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Operating margins significantly increased to
7.2% from 4.5%</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Net income and diluted EPS (excluding
one-time items) grew 59%</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Return on invested capital (ROIC) doubled to
13%</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The year-end cash position was improved by
nearly $150 million, net of debt</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">And
despite the difficult economic environment in the first quarter of 2009, the
Company increased net sales, grew comparable store sales, and restructured many
of the ill-advised real estate commitments entered into by Mr.&nbsp;Dabah when
he was CEO.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DO NOT LET HISTORY REPEAT ITSELF &#151; STOP EZRA DABAH<br>
FROM REGAINING CONTROL OF YOUR COMPANY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
circumstances surrounding Mr.&nbsp;Dabah&#146;s departure, combined with his recent
actions, reinforce our strong belief that Mr.&nbsp;Dabah is only looking out
for his own interests and will place your investment at risk. We believe that
he does not have the best interests of The Children&#146;s Place stockholders in
mind.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It
is important to remember that prior to Mr.&nbsp;Dabah&#146;s resignation, The
Children&#146;s Place was in disarray due largely to management missteps during Mr.&nbsp;Dabah&#146;s
tenure. Most notably, under Mr.&nbsp;Dabah&#146;s stewardship, The Children&#146;s Place
was facing many serious problems, including:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">An investigation by a special committee of
the Board involving back-dating of stock options by Mr.&nbsp;Dabah and others,
which resulted in an investigation by the SEC.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">An investigation by the Company&#146;s Audit
Committee which found that Mr.&nbsp;Dabah had violated the Company&#146;s code of
conduct with respect to securities transactions on three different occasions.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The notification by the Company&#146;s auditors,
Deloitte&nbsp;&amp; Touche LLP, that it was no longer willing to rely on Mr.&nbsp;Dabah&#146;s
representations in connection with its audits.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Excessive inventories coupled with major
fashion misses in the 2007 merchandise lines resulting in a 36% higher rate of
markdowns that significantly eroded gross margin.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Onerous remodeling requirements under the
Disney Store contract which forced the Company to make significant capital
expenditures on this ancillary business, draining resources and liquidity from
the core The Children&#146;s Place business. Furthermore, on Ezra Dabah&#146;s watch as
CEO, the Company was found to have been in breach of the contract it signed
with Disney.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&nbsp;</font><font size="2" style="font-size:10.0pt;">Comparable store sales for 2008 increased
2% using the Company&#146;s previous reporting methodology (U.S. and Canadian
comparable stores sales based on U.S. dollars). Beginning February&nbsp;2009,
the Company began reporting consolidated comparable retail sales based on
constant dollars, including e-commerce sales. Using the current methodology,
comparable retail sales for 2008 increased 5%.</font></p>

<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594379\14723-4-be.htm',USER='105538',CD='Jun 16 23:00 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A lavish new corporate headquarters planned
in Secaucus, NJ, which would have resulted in incremental lease costs and
increased capital expenditures at a challenging time for the Company.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It
has taken considerable time and effort to clean up the mess Mr.&nbsp;Dabah left
behind, and thanks to the leadership of management and the current Board of
Directors, The Children&#146;s Place has been restored to a position of strength as
a market leader. <u>Don&#146;t turn your Company back over to Mr.&nbsp;Dabah and
allow history to repeat itself</u>. We urge you to protect your interests and
vote FOR the Company&#146;s directors.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EZRA DABAH WANTS CONTROL WITHOUT <u>PAYING</u> FOR IT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
is not the first time Ezra Dabah has sought control of The Children&#146;s Place
since he was ousted from management. At his insistence, in October&nbsp;2007
the Company undertook a review of strategic alternatives to enhance shareholder
value and retained an investment bank to assist in assessing a variety of
options. According to his public filings, Mr.&nbsp;Dabah expressed interest in
acquiring the Company in February&nbsp;2008 for $24.00 per share. (We note that
shares recently traded over $30.00 per share.) Mr.&nbsp;Dabah has disclosed
that he and a private equity firm had &#147;participated in the Company&#146;s sales
process, conducted a due diligence review of the Company, and ultimately
determined not to submit a formal, binding acquisition proposal, mainly due to
the weak debt markets.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unable
or unwilling to raise enough money for an acquisition, Mr.&nbsp;Dabah has now
initiated a proxy contest that in our opinion is a calculated attempt to gain
control of the Company without paying a cent to stockholders. <u>Apparently, Mr.&nbsp;Dabah
doesn&#146;t like to pay retail</u>.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROTECT THE VALUE OF YOUR INVESTMENT:<br>
VOTE THE WHITE PROXY CARD TODAY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
believe Mr.&nbsp;Dabah&#146;s past conduct and management performance have cost The
Children&#146;s Place and its stockholders dearly, eroding its value and causing
great uncertainty among employees and in the marketplace. In the period since
his ouster, the Company has gone to great lengths to address the issues caused
by Mr.&nbsp;Dabah and create positive momentum both operationally and
financially. The Company has performed very well in a difficult economic
environment, growing sales, expanding market share, cutting costs, improving
profitability, significantly enhancing the Company&#146;s liquidity and
strengthening its balance sheet &#151; all of which have significantly increased the
value of your investment. We urge stockholders to vote </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">FOR </font></b><font size="2" style="font-size:10.0pt;">the Company&#146;s proven slate of Ms.&nbsp;Kasaks, Mr.&nbsp;Elvey
and Mr.&nbsp;Matthews in order to continue this positive momentum.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Do
not return any gold proxy card you may receive from Mr.&nbsp;Dabah or otherwise
authorize a proxy to vote your shares for Mr.&nbsp;Dabah&#146;s nominees. If you
have already returned a gold proxy card to Mr.&nbsp;Dabah or otherwise
authorized a proxy to vote your shares for Mr.&nbsp;Dabah&#146;s nominees, it is not
too late to change your vote. To revoke your prior proxy and change your vote,
simply sign, date, and return the enclosed </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WHITE </font></b><font size="2" style="font-size:10.0pt;">proxy card
today in the postage-paid envelope provided. Only your latest dated proxy will
be counted.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders
of record as of close of business on June&nbsp;30, 2009 are entitled to vote at
the annual meeting.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mackenzie
Partners Inc. is assisting The Children&#146;s Place with its efforts to solicit
proxies. If you have any questions about voting your shares, please call
Mackenzie Partners Inc. toll-free at (800) 322-2885 (or call collect at (212)
929-5500) or email childrensplace@mackenziepartners.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594379\14723-4-be.htm',USER='105538',CD='Jun 16 23:00 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every
stockholder&#146;s vote is important, regardless of how many shares you own. To
ensure your vote is counted, submit your vote today on the </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WHITE </font></b><font size="2" style="font-size:10.0pt;">proxy card so we receive it by July&nbsp;30th.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank
you for your support.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very
  truly yours,</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
  </font><font size="2" style="font-size:10.0pt;">Charles Crovitz</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Charles
  Crovitz</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member
  of the Board of Directors</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and
  Interim Chief Executive Officer</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Important
Information</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has filed a
definitive proxy statement and other relevant documents concerning the 2009
Annual Meeting of Stockholders with the United States Securities and Exchange
Commission (&#147;SEC&#148;) on June&nbsp;16, 2009. Before soliciting proxies, the
Company will provide stockholders with the definitive proxy statement. The
Company advises stockholders to read the definitive proxy statement because it
contains important information about the election of directors and any other
matters to be presented at the 2009 Annual Meeting of Stockholders.
Stockholders may obtain free copies of the definitive proxy statement and other
documents the Company files with the SEC at the SEC&#146;s website at www.sec.gov. They
may also access a copy of the company&#146;s definitive proxy statement by accessing
www.viewourmaterial.com/plce. In addition, stockholders may obtain a free copy
of the definitive proxy statement and other related documents by contacting
MacKenzie Partners toll-free at (800) 322-2885 or call collect at (212)
929-5500.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company, its
directors, some of its executive officers and certain other of its employees
are participants in the solicitation of proxies in respect of the matters to be
considered at the 2009 Annual Meeting of Stockholders. Information about the
participants is set forth in the definitive proxy statement. Information about
the participants&#146; direct or indirect interests in the matters to be considered
at the Annual Meeting is also contained in the proxy statement referred to
above.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PLEASE VOTE TODAY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
you have any questions or need assistance in voting your </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WHITE</font></b><font size="2" style="font-size:10.0pt;"> proxy card, please call:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.7pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="136" height="40" src="g147234bei002.jpg"></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">105 Madison Avenue<br>
New York, New York 10016<br>
childrensplace@mackenziepartners.com<br>
Call Collect: (212) 929-5500<br>
or<br>
<b>Toll-Free (800) 322-2885</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105538\09-14723-4\task3594379\14723-4-be.htm',USER='105538',CD='Jun 16 23:00 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g147234bei001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g147234bei001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"`!0`'H#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#H-4\5ZW;Z
MM>017NV.*=T1?*0X`8@=JJ_\)CK_`/S_`/\`Y!C_`/B:I:U_R'=0_P"OJ3_T
M(U1KZ>%"DXKW5]R/AJN*Q"J22F]WU9M_\)CK_P#S_P#_`)!C_P#B:/\`A,=?
M_P"?_P#\@Q__`!-8E%7]7H_R+[D9_6\1_P`_'][-O_A,=?\`^?\`_P#(,?\`
M\31_PF.O_P#/_P#^08__`(FL2BCZO1_D7W(/K>(_Y^/[V;?_``F.O_\`/_\`
M^08__B:/^$QU_P#Y_P#_`,@Q_P#Q-8E%'U>C_(ON0?6\1_S\?WLV_P#A,=?_
M`.?_`/\`(,?_`,31_P`)CK__`#__`/D&/_XFL2BCZO1_D7W(/K>(_P"?C^]F
MW_PF.O\`_/\`_P#D&/\`^)H_X3'7_P#G_P#_`"#'_P#$UB44?5Z/\B^Y!];Q
M'_/Q_>S;_P"$QU__`)__`/R#'_\`$T?\)CK_`/S_`/\`Y!C_`/B:Q**/J]'^
M1?<@^MXC_GX_O9M_\)CK_P#S_P#_`)!C_P#B:Z^RU2]FL+>62;+O$K,=HY)'
MTKS6N_TW_D&6O_7%/_017'BZ5.,5:*7R/2R_$5IRES3;^;..UK_D.ZA_U]2?
M^A&H#93A2Q08'7YQGIGU]*GUK_D.ZA_U]2?^A&H/,3[!Y>[Y_-W8QVQ7;&_)
M&QY<TO:2OW8BVLSO$BIEIAE`"/F'(_H:1;:5T#J!M)(&6`R1R?YBKUK?Q07%
M@Q(V0(1(?+!.=S'C\Q4$<T8L4A+H&$CD[DW<%5`Q[\']*.:5]OZU#DA;?^M/
M^"5%5G8(BEF8X``R2:>UO(@RRC`;:3N'!]#Z4^RG6VNXYG4LJDY`Z\C&1[CK
M3'2,$;9=P)_ND8'O_DU=W>QFDN6XXVLR^=E/]0<2<CY><?SH^RS;]FSYMGF8
MW#[N,Y_+FKL]_%+_`&ERH%PV8\(!GY\\X]JC$\!O/,,F%^S>7G:?O>5L_G4*
M4K:HU<(75G_5V5(H9)M^Q<[%W-R!@=/ZTX6DYF2$1G?(,H/[P]CWJ:UDA@%P
MC2C][`4#;3C.0?Z5+;7T4,]BK$F.U<L6QUR<X'MQ^IIN4M;(480=KO\`J_\`
MD5/LL_FQQ>6=\H!09^\#Z&A+6>69(HTWNXRJJ0<_3'TJV+R`W]C-DI'!L!0#
M(3:<G'J"<GZDU#%,D=R)#(G^J=<HFT`E2!V]QS1S2[!R0OOU*XAD90P7AFV#
MGO2K!*ZE@O`SR3CH,GZX%6+N[CN$BE12EQN9I<=">/F'H3CGW^N`6US&ELT,
M^)(CN/EE>5;'#*>QSC/;CO3O*U[$\L.:URG7?Z;_`,@RU_ZXI_Z"*X"N_P!-
M_P"09:_]<4_]!%<F-^%'H9;\<CCM:_Y#NH?]?4G_`*$:T]*TS3+W0[V]DAG$
MMFH)`E&'X^G'2LS6O^0[J'_7U)_Z$:W?#$33^&M9B0J&=0!N8*.A[G@555N-
M%-.VWZ&>'BIXF46K_%^3*.CV6D:S<&R*W%I<."8G\P.I(&<$8%3:)HEI=:Q-
MI-_%*)H0V9(Y<`X([8]ZCT.Q&G:K%>ZC<P6\,!W_`.N5F<^@"DFM'PW>KJ/C
M:YNU4JLJ.5!ZXXQ^E9U922GR/2U_GZF^'A"3IJI%<SE:W=>:.6NGMGF/V6)X
MXQT#ON)_05!117>E96/(;N[A6_K>@QZ=H]C=Q'+MF.YPV</UQ[8Y'X50T.T-
MWJD?R%TA!FD`&<JO./QX'XUT&A07>J6.J:9>P2(;G,\;R1D`29YY/OC]:Y:]
M1P::>BW^>G_!._"T54BXM:RNEY-:_CL<?6Q#I$%KIJ:EJKNL<W^HMX^'E]\G
MH/\`/IFC8V;7&JP64BLI>98W'=><&M7QI,7\0R0=$MXT1%'0#:#_`%K2<FYJ
MFGYOT,J4%&E*K)7L[+U_X!2%YI)(#:2X7N5NCN_48_2I-2L-.AL[:_T^>62&
M9RK12@!D(QD$CZUDTN3MVY.,YQ5>SLTTV9^VO%J45]R5ON.BN=-TF#PU:ZNM
MM<%KB3R_+,XPOWN<[?\`9_6J^GQZ)?N]NUM=03&-C$?/#*S`$X/RC'2M.:W-
MS\/=.02Q1D7#',KA`>9.YK#FTO[+I;7AN8)'$ZQA890VT%6))QTZ#'XUS4VI
M*2<G>[2U\SNJQ<91DHJW*F]%VU,VN_TW_D&6O_7%/_017`5W^F_\@RU_ZXI_
MZ"*,;\*#+?CD<=K7_(=U#_KZD_\`0C6UX>_Y%37/]P?R-8NM?\AW4/\`KZD_
M]"-36OB"\L[,VD$=NL+C$BF('S.,?-GK6DX2G2BH^1A2J0IXB4I>:^^Z,NND
M\"?\C#_VQ;^E<[(_F2%]BIG^%1@"K^FZU=:3N:T2%9&&#(T>6QZ9K2O&4Z;B
MMV986I&E6C.6R9GD%20001U!J8VKBQ6[)PC2F,#'4@`G^8JR^LS2S-++;6<C
ML<L3;KR?P%%WK-Q>100R16ZQ6[%DC2(*O/7(%5>>FA-J5GKZ:%N`OI7AE[E6
M*7&H2;(V4X(C0Y8@^YP*JV&MWMG?P7+7,\BQN"R&0D,.XY]J2\UJZO[1+:=(
M#'%Q'MB"F,>@Q]*I1OY<@?8KX_A89!J(T[I\ZU?]?D:3K6E'V;=E;_@_B=%X
MEB&F^([?5K8!H9RERA'0D$$_GU_&G^+[/[5)%KMG^]M;E%WLO.QAQSZ=A]16
M;<>([Z[MEMKA+>2!!A$,(PG88QTXJM8:M>Z<&6WFQ&_#Q.`R-]5/%90I5(J+
MZK3U1O4Q%&3G'7EEKZ/_`"*56I+">+3X[V0!(Y7*Q@_>;`Y('IVS5@:R5<R+
MIU@K^OD9Q^!./TJK=W]S?7/VBZE,K_[70#T`["NB\V]K(XVJ:3UNSH+\$_#G
M3>.ER?YR5S2>8^(4W'>P^0?Q'H./7D_G6H_B:_>R6RV6PME&!%Y"E?UIEIK]
MS92>9!;V:R=G%NN1]#6-.-2$9:;MO<Z*TZ-24?>:226W9>I2O+9K.\FM68,T
M+E"1TR.M=QIO_(,M?^N*?^@BN$GF>YN))Y3EY7+L?4DY-=WIO_(,M?\`KBG_
M`*"*RQ=^2-SHR^WM)\NQQVM?\AW4/^OJ3_T(U1KI=4\*:W<:M>3Q66Z.6=W1
MO-09!8D=357_`(0[7_\`GP_\C1__`!5;0KTE%>\OO1S5<+B'4DU![OHS$HK;
M_P"$.U__`)\/_(T?_P`51_PAVO\`_/A_Y&C_`/BJOZQ1_G7WHS^J8C_GV_N9
MB45M_P#"':__`,^'_D:/_P"*H_X0[7_^?#_R-'_\51]8H_SK[T'U3$?\^W]S
M,2BMO_A#M?\`^?#_`,C1_P#Q5'_"':__`,^'_D:/_P"*H^L4?YU]Z#ZIB/\`
MGV_N9B45M_\`"':__P`^'_D:/_XJC_A#M?\`^?#_`,C1_P#Q5'UBC_.OO0?5
M,1_S[?W,Q**V_P#A#M?_`.?#_P`C1_\`Q5'_``AVO_\`/A_Y&C_^*H^L4?YU
M]Z#ZIB/^?;^YF)16W_PAVO\`_/A_Y&C_`/BJ/^$.U_\`Y\/_`"-'_P#%4?6*
M/\Z^]!]4Q'_/M_<S$KO]-_Y!EK_UQ3_T$5S?_"':_P#\^'_D:/\`^*KK[+2[
DV&PMXI(<.D2JPW#@@?6N/%U:<HJTD_F>EE^'K0E+F@U\F?_9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g147234bei002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g147234bei002.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"``H`(@#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^O$OC_KZ
MB'3/#T3G>S&[N%_V1E4_7<?^`BO;"0`23@#J37S5X\CDU[0[_P`9NC,EWK'V
M6V8+PEM$KHISVW-^HH`]?^'VLV]M\)-(U/4)8[:WMK0B20GY55&*Y^N%'XFO
M%M8\27/Q,^)6EPLN-/\`M:PVL!R`(MP+,V/XF`Y].!VK3\#1:MXWT6R\/W,C
M0>%]%+3WY12/M/S%UBR.O?O[^E4_A4UM<_$FZUR14M;"R@N+QO+&U(D/`&.N
M,,>/84#/??%OB:T\)>'YM3N5:1E^2&%!EI9#T4#]3Z`$UR/PR\?7WB'PYK&J
M^([BTABLI@#(B>6B)L#'/)]:YP>-AK6HZCXJN?#VN76GP02P:5-#;#R8(RN)
M)6)(^8D?\!`QZUY/!KQL_`5SH,1</<WRW$^.C1H@`7_OKG\*!'MME\1/$WCK
M6)K+P7IUO;6,!_>ZEJ"E@!GC"CN1_#R?I3?$^L_$;PE8SWFI7.CWNF&W=6F@
MA:-HW/"\$GDDC'4>N*[3X?:)!H'@;2[2#8Q>%9Y70Y#NXW,<_CCZ`5YM\?\`
MQ`!'IOAZ(DDG[7/@YX&508Z]=Q_"@#D_AAJ>E>$TO?$NHB2>]P;/3K.)-SSR
M$`L1W'\*YZ?-W/%>@+X<OIK:Y\<_$:5)9;*)KBSTL-^YMAC(5AT9LX'?D#)/
M;QN2UO/`OC*PDNT5KBS>WO"N.""`^.OU';D5[#\=O$"Q>$M/TR!\G4I!*P4Y
MS$F&_5BOY4#*'A'Q5\4O&EA/>Z;+HL<$,GE,UQ"R[FP"0,9Z9'YU5;XN^(M#
M\:0:5K<NG36MM(L&H/;0L!N/WF4G^[D=N=I]:UM%\*ZIX*\"0ZO<^+;ZQM+>
M$7MQIZ01A=Q^8Q[B"<DX7/Y5QFN^`KC_`(57:>+98B-4EF>\OLCDPRME2?\`
M=X/T8^E`CW#QOXC/ASP/J.M6KQO+'"/LQ)!5G8@+WY'.?<"N5U2[^)EGIL>H
M_P!H>'K6SBM$DN)+M64J^,OD`<8)V@9/3WKS[PAKLOBV/PQX7U'_`(\=&G>]
MNYI2-A@B&8PQ/8$X.>,8]*U?$6MZG\8?$2>'/#JF+0;:0237;KPV.-Y]NNU>
MIZGV`(?#OQ-\?>(;V=8IM.CLK1#->7;6AV0Q#))Y;J0.!W]N:@C^,WBN32=2
MU)FLHXQ*D-HAM\G<Q+'//.U%/XD5TWQ'MM-^'WPJ7P_I*B-M0D$+N3\\H^](
M['OD`#TYQTKRA-'EU#5/#_A6%FCEGV27&>=LLV&)(./NQA/R-`SVW0'^)VN:
M%9ZH=7T2T6ZC$J0R6+,P4_=)(;'(P?QHK7\*^!+WPYJ:W4_BS5M2@2(Q):7#
MXB7I@XSV`XHH$/\`BAKCZ)X%O?LY/VR]Q96P'4R2<?A@9.:YCXC:#::)\$;?
M2FN!#]A%N$&,F60'D#)[DD]\`58UZ7_A*OC1HVAH=UGH49O[GC_EJ0-@S^*'
M\3UKF_CMJ4NIZWHGA:T&^0D2L@.,NYV(,]OXOSH`AD\<7'AOX;65BOA233=)
MU*V>&VO$O$>5]RG,FT!3N/7DBKVC?!&&6P4)XH:2PO!%).D-ML>6+[P3=O.`
M<@].H![5F^.="\3:W<Z'I^H6^GZ/91,MMI]E]H\XOP-\CD``*JCD\<=,DU;^
M%U^/#MUX^O=0O!<_8"IDN-W$I0R@$$YZX&.O44`>M:CI-E<>%[K0+>:*TADM
M&M$Q@^4"NT<9YQ7F]G\#M-M]'O\`3[W7C++,\<D,R1",PLH8<@L=P(;IQTKR
M_3H5\765Q806;:AXLU:_,YG=MBVT0P6))ZY).1S@#UKIO%OA*QN/B!X=\*6$
M"MJ#PQG5+M9&+2G:-Q)8G&$0G&/XA0!Z%I'@3Q'INFPZ/;_$*9;",;5CALXQ
M*J]<*Y)('].*SKGX*17/B6'4[SQ'<7%M'+&1#<Q^8[(ISL,A;G)SSCO7GGC:
MUCT'QC<7_A/3X[.PT"XAB>6)B?\`2&^;YB221QM]!TZFMWXC^/+7Q/ING2Z>
MT;6MK;"ZG5LY2YDRB(?=/G;\![&@#M_'WPQLO'&LV^HIK$=C,D/DR`1"3S`#
ME3]X<C)'?MZ5D:S\'9M9FT]KGQ<-]A:16D>;49PG?[_7/\A7+^'[/PYH/@S^
MT=7\(:E_:]G`UTM_?0LMN\N[]TJG=\V25P-I[US6C:#_`,);IMOHVEVQN/$=
MQ<O=WU[.#&+2+@`9S\V3\W?K@<T#/7KWX::W?Z7-I^L^/;N[MIY(RZ2P!044
MDLOWN_'/;%>D&TMWL?L9B1K8Q^5Y>!M*8QC'IBOGD:U:O\1K_3/'^FW%Y$^+
M"T#$D6HSL#(O`(;.=XY[U]!Z9IUOI.F6VG6BLMO;1K%&&8L=H&!DGDT"/G7X
M@^`(_A]I,DMMKDDD6I3>2+3R=I,2DOAFW<@87C')Q74^#/AEXC@\.6]S8^,Y
M])^V*L\MM;P!PK$#&3NY.,5SOQ6UJ+6?B;'932?\2_24`D&>"0-[_B?E7_Z]
M3>!->U/P%\0)M-\0J88-7VS3%L[4=P61QP.Y*GW^E`SLM7^$E_X@&FQZOXOF
MO39%BYDM\M)N;)_CP/E`4<=C5&#X-7EKKLFJ6/C1K6_9W8/#:`,N[.0/GZ8X
M^E<?H>J:KX^\<ZCIVG7<VG6^K737%W=1'$PMHQM2,$=!@].Y;/;%>QCX8>$D
M>PEATP13V4HE29'8/(>I\QLY?)]:!&QX9TB_T72!::EK-QJ]T9&=KF=0IP>B
M@=@`/YT5L44`</X#\(:EH>J^(-9UN2VDU+5+HMFW)*K&,D`9`/4]/85EZ;\-
M=1_X6G<>+]7OK6>'S'DMX8PQ9>-J9W#`POIWHHH`U%^'UOK>L7^J^,8K35)I
M7$=I`H;RK:!<X`R>6.<L?6N-D^#>NV^G:]IFF:EIUO8ZG=QNJ-O)2!&=E3..
MN2O_`'S110!OP?#&YTGX@:-KNCWEO%8V=K';3PN"))`JE"<@$$D8//<5/X:\
M`:EI?C?7/%6IW=K<7EV'%HD1;;&&/\1([`*.!ZT44`7M#\`)#X'O]#UR9+N[
MU.26:^N8A]Z1SD,"1_#A<9]*\\?X%ZXNDPV<.I:9N%PT\SOYA$F`!&,;>PW9
M_P!XT44`=5XG\%>-/%WAZTT?4=0T2"%+D22FT25`8P`%4`Y'&6//<+Z56U#X
M9>(+'QM<Z_X3U33M/26W$(25&)7Y`K=B#]T$>]%%`$/C31=?GFTW6->M]-U"
M[L66/3]/TZ-\W=PQX,C'E8UQN(!QP<FO0O#%CK-AX=CCUK4/MNK/NDFD(&Q6
M8Y"*`!\HX%%%`'F.G?!O7/[6N+[5]4L+AKR[CENS&'R\?F>9(HRO5B%'IC.:
MZOXF?#D^.;:Q>SGAM;VV<J9)`<-$?O+P.H(!'X^M%%`&=!\-]:\-^,CKGA74
M+%;>2W2"6UOE?!"JHZKG^Z#GL?6MG^P_'EWXBTZ_N_$ME;6$3EKBQL[<[67L
2NYN6SW)QCL***`.WHHHH`__9
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
