The Children?s Place, Inc. announced a new financing agreement with its majority shareholder Mithaq Capital SPC (?Mithaq?) to provide $78.6 million of interest-free, unsecured and subordinated term loans to strengthen the Company?s liquidity position. The Company also announced the appointment of four persons nominated by Mithaq to its Board of Directors (?the Board?): Turki Saleh A. AlRajhi, Muhammad Asif Seemab, Muhammad Umair and Hussan Arshad. In conjunction with these appointments, current directors Elizabeth Boland, Alicia Enciso, Katherine Kountze and Wesley McDonald have resigned from the Company?s ten-member Board.

Mr. AlRajhi has been appointed Chairman-Elect and is sharing the Chairman's duties with Norman Matthews during a transition period. Additionally, the Board has formed a special committee ? the Efficiency and Optimization Committee ?

comprised of Mithaq appointees Mr. Seemab and Mr. Umair, as well as Jane Elfers, President and CEO and Director. The purpose of the Committee is to identify and make recommendations to the Board with respect to increasing business competitiveness and the efficient cost management at the Company.