Press Release

BANANA REPUBLIC ANNOUNCES TWO TOKYO LOCATIONS AND OPENING DATES

Gap Inc’s Affordable Luxury Brand to Open First Shops: Ginza and Roppongi

SAN FRANCISCO − June 29, 2005 − Gap Inc. (NYSE:GPS), today announced two locations where the Banana Republic brand will open later this summer in Tokyo. In November 2004, the company made the initial announcement that plans were underway to expand Banana Republic to Japan with three stores opening by the end of 2005.

The Banana Republic offerings, set to open this September, are located in two of the most prominent shopping areas in Tokyo: Printemps Ginza (scheduled to open September 1) and Roppongi Hills (scheduled to open September 3), with a third location scheduled to be announced in July.

Andrew Rolfe, President of Gap Inc.'s International Division, is overseeing Banana Republic’s expansion in Japan. 

“Shopping in Tokyo is an art form, and Ginza and Roppongi Hills are both locations where our customers expect to find contemporary and high quality fashion,” Mr. Rolfe said. “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. Banana Republic, known for luxury and fashion, is thrilled to be a part of these amazing shopping locales.”

Banana Republic, which currently has more than 450 stores and annual sales of more than $2 billion in North America, is known for offering modern interpretations of classic fashion for women and men through elevated design and luxurious fabrications at affordable prices.

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 and Old Navy brand names. 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.