Press Release

02/23/2007

GAP INC. HIRES MICHAEL CAPE AS HEAD OF OLD NAVY MARKETING


SAN FRANCISCO – Feb. 23, 2007 – Gap Inc. (NYSE: GPS) today announced that apparel marketing executive Michael Cape is joining the company as executive vice president, marketing, for Old Navy.

Mr. Cape will oversee all aspects of marketing for the Old Navy brand, including advertising, in-store promotion and public relations activities. He will report to Old Navy President Dawn Robertson.

“Michael has strong creative vision and experience in understanding and building brands,” said Ms. Robertson. “He has a strong blend of marketing expertise and leadership skills and is a perfect fit for what we’re looking for to take Old Navy forward. We’re thrilled to have a leader with his talents join our team.”

Mr. Cape, 45, joins Old Navy after serving for six years at J.C. Penney Company, Inc., most recently as Vice President, Director of Brand Marketing where he directed the development of fully integrated marketing campaigns, media, publicity, and all creative for private brands and visual properties. He also was part of the leadership team assisting J.C. Penney’s turnaround efforts, and helped develop a fashion-forward image for the retailer as it transformed into a contemporary retail brand.

Mr. Cape has more than 23 years of marketing and brand management experience, a majority of which is in the apparel industry. Prior to J.C. Penney, he served as Vice President of Marketing and Visual Merchandising for the specialty retailer Natural Wonders and spent nine years in senior marketing roles at Mervyn’s department stores

“It is a tremendous opportunity to join a great brand like Old Navy,” said Mr. Cape. “I look forward to working with the team to help bring Old Navy back into a leadership position in the retail industry.”

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, Forth & Towne and Piperlime brand names. Fiscal 2006 sales were $15.9 billion. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Asia and the Middle East. For more information, please visit gapinc.com.

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