THE GAP, INC. AND SUBSIDIARIES
                    COMPUTATION OF EARNINGS PER SHARE

                                             Fifty-two weeks ended

                         January 29, 1994         January 30, 1993    February 1, 1992
                                                             

Net earnings ($000)              $258,424            $210,701            $229,873

Weighted average shares of
common stock outstanding
during the period             144,841,137         143,672,924         142,139,577

Add incremental shares from
assumed exercise of stock
options (primary)                 687,009           1,054,393           1,396,912

  subtotal                    145,528,146         144,727,317         143,536,489

Primary earnings per share          $1.78              $1.46                $1.60

Weighted average shares of 
common stock outstanding
during the period             144,841,137         143,672,924         142,139,577

Add incremental shares from
assumed exercise of stock
options (fully diluted)           973,372           1,083,742           1,481,455

  subtotal                    145,814,509         144,756,666         143,621,032

Fully-diluted earnings
per share                          $1.77                $1.46              $1.60 



Note:     The information provided in the exhibit is presented in
          accordance with Regulation S-K, Item 601(b)(11), while net
          earnings per share on the Consolidated Statements of Earnings is
          presented in accordance with APB Opinion 15.  This information is
          not required under APB Opinion 15, as the difference between
          primary and fully - diluted earnings per share and earnings per
          share calculated on a weighted average shares basis is less 
          than 3%.