The Children’s Place Retail Stores, Inc., is a leading specialty retailer of children’s merchandise, ages newborn to ten years old. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary “The Children’s Place” and licensed “Disney Store” brand names. As of April 30, 2005, the Company owned and operated 753 The Children’s Place stores and 306 Disney Stores in North America and its online store, www.childrensplace.com. As a growing specialty retailer of clothing and accessories for kids, we provide our customers a high-quality, focused merchandise selection at prices that represent a substantial value relative to our competitors. Current fashion trends in a broad color palette are offered as coordinated outfits specifically designed for children. .