Children's Place faces NASDAQ delisting

SECAUCUS, N.J. The Children's Place Retail Stores announced today that it had received a letter from NASDAQ saying that because the company has not yet filed its Form 10-Q for the fiscal second quarter 2007 with the Securities and Exchange Commission, it may be delisted from the NASDAQ Stock Market. The letter states that pursuant to Marketplace Rule 4310(c)(14), the NASDAQ has an additional basis for delisting the company's securities from The Nasdaq Global Select Market.

The company anticipated receipt of this notice since, as previously announced, it received previous determination letters indicating that the company was not in compliance with the filing requirements for continued listing due to the company's inability to file its quarterly reports on Form 10-Q for the second quarter ended July 29, 2006, the third quarter ended October 28, 2006, the first quarter ended May 5 and its annual report on Form 10-K for the fiscal year ended Feb. 3.

Separately, the board of directors of the NASDAQ Stock Market recently notified the company that it has until Nov. 14, to file all of its delinquent periodic reports to regain compliance with Rule 4310(c)(14). If the company has not regained compliance by Nov. 7, the company will need to explain to the NASDAQ staff the reasons for its inability to do so, in order for the NASDAQ board to consider whether any further extension is warranted. There is no assurance that the company will be able to meet the new deadline, and if it does not, there is no assurance that the NASDAQ board will grant the company additional time to become compliant. If the company fails to come into compliance by Nov. 15 or any extended deadline, the company anticipates that its shares will be delisted.