Gap Inc.

June 6, 2008

SAN FRANCISCO – June 6, 2008 – 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 28th Annual Consumer Conference in New York City on June 10. Mr. Murphy will provide a business update on Gap Inc., which includes the Gap, Banana Republic and Old Navy retail brands.  

A live webcast of the presentation will be accessible through (follow the Investors, Financials, Conference Calls and Webcasts links) beginning at 10:30 am ET on June 10, 2008. An audio archive of the presentation will be available for 30 days through An audio replay will also be available for 30 days at 800-GAP-NEWS. International callers may call 706-634-4421.

Forward Looking Statements
The information made available in this presentation contains unaudited financial information for the first quarter of 2008 and 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) earnings growth; (ii) merchandise margins; (iii) cost management; (iv) cash distributions to shareholders; (v) store openings for fiscal year 2008; (vi) capital expenditures for fiscal year 2008; (vii) strategies for the company’s brands; and (viii) business opportunities, including franchise. 

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 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 February 2, 2008. 

These forward-looking statements are based on information as of June 10, 2008. 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.


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