Press Release

GAP INC. CHAIRMAN AND CEO TO PRESENT AT INVESTOR CONFERENCE ON JUNE 10

SAN FRANCISCO – June 8, 2009 – Gap Inc. (NYSE: GPS) today announced that Glenn Murphy, chairman and chief executive officer of the company, will give a presentation to investors at the Piper Jaffray 29^th Annual Consumer Conference in New York on June 10. Mr. Murphy will provide a business update on Gap Inc., which includes the Gap, Banana Republic, Old Navy, Piperlime and Athleta brands.

A live webcast of the presentation will be accessible through www.gapinc.com under the Conference Calls & Webcasts page in the Financials section under the Investors tab beginning at 10:30 am ET on June 10, 2009. An audio archive of the presentation will be available for 30 days through www.gapinc.com.

Forward Looking Statements

The conference and 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 may include statements regarding: (i) North America strategy; (ii) 2009 financial and business priorities; (iii) generating cash and returning excess cash to shareholders; (iv) improving merchandise margins and inventory management; (v) reducing and containing costs; (vi) generating free cash flow; (vii) improving return on invested capital; (viii) increasing traffic; (ix) real estate strategies, including remodels; (x) making targeted investments; and (xi) growth opportunities, including international, Outlet and online.

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, consumer confidence, 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 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 IT 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 through franchising and similar arrangements 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 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, costs and 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 31, 2009. 

Any forward-looking statements made during the conference and webcast will be based on information as of the date of the conference and webcast. 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 2008 sales were $14.5 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 in Asia, Europe, Latin America and the Middle East. For more information, please visit www.gapinc.com.