Press Release

GAP INC. INTRODUCES "FORTH & TOWNE"

Fourth Brand to Become Shopping Destination for Women

SAN FRANCISCO − April 21, 2005 − Gap Inc. (NYSE: GPS) today unveiled that Forth & Towne is the name of the company’s new women’s apparel retail concept. Forth & Towne represents the newest concept in Gap Inc.’s family of brands, which includes Gap, Banana Republic and Old Navy.

"Launching the brand Forth & Towne, which focuses on women over age 35, represents an important long-term growth opportunity for Gap Inc.," said Paul Pressler Gap Inc. President and Chief Executive Officer, at the company’s investor update meeting. 

Forth & Towne will launch in four test stores in the Chicago market and one in New York in the fall of 2005. It will offer a broad range of sizes, with a focus on fit, and assortments that serve a variety of occasions.

"We created an address with the name 'Forth & Towne', because we wanted it to evoke a sense of place -- to signify a special and unique shopping destination," explained Gary Muto President, Forth & Towne. "'Forth' references our fourth brand, and 'Towne' conveys a sense of community that we want to create for our customers when they shop with us."

Announced on September 15, 2004, Gap Inc.’s newest brand will offer fashionable apparel and accessories, targeting women over the age of 35. A rapidly growing segment of the population, this group’s spending power accounts for about 39 percent of women’s total apparel expenditures.

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.