THE GAP, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, October 30, October 29, October 30, 1994 1993 1994 1993 Net earnings ($000) $ 93,647 $ 78,915 $ 201,477 $ 149,079 Weighted average shares of common stock outstanding during the period 145,850,581 144,990,026 145,650,754 144,738,922 Add incremental shares from assumed exercise of stock options (primary) 440,092 499,380 701,118 617,519 subtotal 146,290,673 145,489,406 146,351,872 145,356,441 Primary earnings per share $ .64 $ .54 $ 1.38 $ 1.03 Weighted average shares of common stock outstanding during the period 145,850,581 144,990,026 145,650,754 144,738,922 Add incremental shares from assumed exercise of stock options (fully-diluted) 440,870 770,394 721,658 707,354 subtotal 146,291,451 145,760,420 146,372,412 145,446,276 Fully-diluted earnings per share $ .64 $ .54 $ 1.38 $ 1.02 NOTE: The information provided in this exhibit is presented in accordance with Regulation S-K, Item 601(b)(11). Net earnings per share on the Consolidated Statements of Earnings is presented in accordance with APB Option 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%.