GAP, BANANA REPUBLIC AND OLD NAVY OFFER DISCOUNTS TO KATRINA SURVIVORS

Gap Inc. Encourages Impacted Employees to Contact Company
SAN FRANCISCO − September 7, 2005 − As part of Gap Inc.’s ongoing relief effort for Hurricane Katrina, all Gap, Banana Republic, Old Navy and Gap Inc. Outlet stores will offer a 15% discount on all merchandise to customers from areas impacted by Hurricane Katrina. Customers are required to show a valid Alabama, Louisiana or Mississippi identification card and the discount will be applied through October 31, 2005.

“At times like this, it’s important that we all do what we can to support those in need,” said Gap Inc. CEO and President Paul Pressler. “We hope this is a first step in helping people recover some of what they’ve lost.”

More than 1,300 Gap Inc. employees have been affected by the hurricane. The company is working to confirm their safety as well as to let them know about available company-sponsored assistance such as housing and clothing allowances and additional pay. If they have not already done so, employees are asked to contact the company at 1-866-411-2772, ext. 20600, option 1, followed by option 4; or to visit the corporate Web site, www.gapinc.com, and click on Hurricane Katrina Relief.

In addition to the support being provided to Gap Inc. employees, the company has committed $1 million dollars to disaster relief through Gap Foundation. As part of this commitment, the company is providing a double-match for all employee donations to the American Red Cross. Gap Inc. employees are also donating their vacation time to help their colleagues who need to take more time away from work due to the Hurricane.

About Gap Inc.
Gap Inc. is a leading international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Forth & Towne brands. Fiscal 2004 sales were $16.3 billion. Gap Inc. operates about 3,000 stores in the United States, the United Kingdom, Canada, France and Japan. For more information, please visit gapinc.com.

Banana Republic goes Japan

US retailer Gap Inc. is opening its first two Banana Republic stores in Tokyo this summer. The San Francisco-based retailer made the anouncement in November that it would open three stores in Japan by the end of the year. The first two shops are expected to open in prime shopping locations in September. One will open in Printemps Ginza while the other will be located in Roppongi Hills. The third location will be announced in July.

President of Gap Inc's international division, Andrew Rolfe, is supervising Banana's Japanese expansion. "Ginza, like New York's 5th Avenue, is simply one of the world's most prominent shopping districts. Roppongi Hills, which opened two years ago, has fast become a haven for Tokyo shopping culture," said Rolfe in a statement. Banana Republic has over 450 stores and annual sales in excess of $2 billion (GBP 1.11 billion) in North America.

30 June 2005

Banana Republic chief transfers to Chanel

Chanel Inc, the US arm of French luxury goods company Chanel, has appointed Maureen Chiquet president and chief operating officer, effective 2005. She is set to take over from Arie L Kopelman, who will become vice chairman and remain on Chanel Inc's management board after his retirement at the end of 2004.

Chiquet is currently president of Gap Inc-owned fashion brand Banana Republic. She will join Chanel this summer, before moving to France in September for a year to become acquainted with Chanel's business, the company said .

May 8, 2003