Press Release

09/26/2008

BANANA REPUBLIC ANNOUNCES NEW JAPAN LOCATIONS

Gap Inc.’s affordable luxury brand to open its first store in Osaka

SAN FRANCISCO – September 26, 2008 – Gap Inc. (NYSE: GPS), today announced it plans to open New Banana Republic store location in Japan in the fall of 2008. With this new store  location, Banana Republic will have a total of twenty-six store locations in Japan.

Banana Republic plans to open its first store in Osaka on October 3. Osaka is the largest city next to Tokyo and located in the western Japan. The new store will open at BREEZE BREEZE,    a large-scale complex to be the pioneer urban development in newly open in this fall in the center of Osaka.

“We are excited to open our first store in Osaka, one of the most important cities in Japan,” said John Ermatinger, president of Gap and Banana Republic in Japan.“ We are looking forward to offering more customers a chance to discover and create their own city style.”

Banana Republic currently operates 25 stores throughout the fashionable shopping areas in Japan. In this fall, the brand marks its 30th anniversary, celebrating three unforgettable decades.

About Banana Republic
Banana Republic opened its first stores in Japan in the fall of 2005, marking the brand’s first international expansion outside North America. The brand, which currently has about 590 stores in North America, Europe and Japan and annual sales of more than $2.7 billion in fiscal year 2007, is known for delivering accessible luxury apparel and accessories for men and women.

About Gap Inc.
Gap Inc. is a leading global specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Piperlime brand names. Fiscal 2007 sales were $15.8 billion. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Japan and Ireland. In addition, Gap Inc. is expanding its international presence with franchise agreements for Asia, Europe, and the Middle East. For more information, please visit gapinc.com.

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