Press Release

05/13/2010

Gap Inc. To Webcast Annual Meeting of Shareholders on May 18, 2010


SAN FRANCISCO – May 13, 2010 – Gap Inc. (NYSE: GPS) will provide a live audio webcast of the company’s Annual Meeting of Shareholders, beginning at 10:00 a.m. Pacific Standard Time on May 18, 2010.  To access the webcast on May 18, please visit www.gapinc.com (follow the Investors, Financials, Conference Calls and Webcasts links).  A replay of the presentation will be available for 30 days through www.gapinc.com.

The webcast will provide the audio portion of the Annual Meeting only and does not constitute attendance.  In order to vote at the Annual Meeting, shareholders must either authorize a valid proxy or attend the Annual Meeting and vote in person.

Forward-Looking Statements

The webcast may contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding: (i) board composition; (ii) growing the top line and earnings growth; (iii) investing for future growth; (iv) maintaining discipline on costs and expanding return on invested capital; (v) returning excess cash to shareholders through share repurchases and dividends; (vi) selling more units and driving sales productivity; (vii) maintaining healthy margins; (viii) gaining market share in North America;  (ix) expanding internationally with franchise stores; (x) expanding internationally with company owned stores; and (xi) online expansion, including launches in Europe, Canada and China.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following: the risk that the adoption of new accounting pronouncements will impact future results; the risk that the company will be unsuccessful in gauging fashion trends and changing consumer preferences; the risk that changes in general economic conditions or consumer spending patterns will have a negative impact on the company's financial performance or strategies; the highly competitive nature of the company’s business in the United States and internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the risk that the company will be unsuccessful in identifying and negotiating new store locations and renewing or modifying leases for existing store locations effectively; the risk that comparable store sales and margins will experience fluctuations; the risk that the company will be unsuccessful in implementing its strategic, operating and people initiatives; the risk that adverse changes in the company’s credit ratings may have a negative impact on its financing costs, structure and access to capital in future periods; the risk that changes to the company’s information technology systems may disrupt its operations; the risk that trade matters, events causing disruptions in product shipments from China and other foreign countries, or an inability to secure sufficient manufacturing capacity may disrupt the company’s supply chain or operations; the risk that the company’s efforts to expand internationally may not be successful and could impair the value of its brands; the risk that acts or omissions by the company’s third party vendors, including a failure to comply with the company’s code of vendor conduct, could have a negative impact on the company’s reputation or operations; the risk that changes in the regulatory or administrative landscape could adversely affect the company's financial condition and results of operations; the risk that the company does not repurchase some or all of the shares it anticipates purchasing pursuant to its repurchase program; and the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits; any of which could impact net sales, expenses, and/or planned strategies. Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2010.

These forward-looking statements are based on information as of the date of the presentation. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

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, Piperlime and Athleta brand names. Fiscal 2009 sales were $14.2 billion. Gap Inc. operates about 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 in Australia, Asia, Europe, Latin America and the Middle East. For more information, please visit www.gapinc.com.

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