Press Release

GAP INC. ANNOUNCES SENIOR MANAGEMENT CHANGES AT GAP AND OLD NAVY BRANDS

SAN FRANCISCO – January 10, 2007 -- Gap Inc. (NYSE: GPS) today announced management changes in the design and merchandising divisions at its Gap and Old Navy brands.

Denise Johnston, 47, president of Gap Adult, is leaving the company effective January 12. A search for her replacement will be conducted, and Gap Brand North America President Cynthia Harriss will oversee the adult business until a successor is named. In addition, Gap named Karyn Hillman as senior vice president of merchandising for Gap Adult. Hillman, 39, was appointed to this position in December 2006 from Banana Republic where she served as senior vice president of apparel merchandising. Hillman joined Gap brand in 1991 and held a number of merchandising roles before moving to Banana Republic in 2001. She will report directly to Ms. Harriss until the brand names a head of the adult business.

Separately, the company announced that Old Navy’s Executive Vice President of Product Design, Ivy Ross, 51, will leave the company effective January 17. The company is conducting a search to fill the role. In the interim, the design team will report to Old Navy President Dawn Robertson.

“We appreciate the contributions of both Ivy and Denise and we wish them all the best in their future endeavors,” said Paul Pressler, president and CEO of Gap Inc.

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, Old Navy, Forth & Towne and Piperlime brand names. Fiscal 2005 sales were $16.0 billion. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Southeast Asia and the Middle East. For more information, please visit gapinc.com.