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




                                   Thirteen Weeks Ended            Twenty-six Weeks Ended
                              July 29, 1995   July 30, 1994     July 29, 1995   July 30, 1994   

                                                                    
Net earnings ($000)             $   32,414        $  44,352      $    82,527     $  107,830

Weighted average shares of      
common stock outstanding        
during the period              144,116,611      145,741,236      143,994,080    145,551,113

Add incremental shares from     
assumed exercise of stock       
options (primary)                  301,392          729,087          234,252        831,631
                                                                    
                               144,418,003      146,470,323      144,228,332    146,382,744 
                                
Primary earnings per share       $     .22        $     .30        $     .57      $     .74
                                
Weighted average shares of                        
common stock outstanding                          
during the period              144,116,611      145,741,236      143,994,080    145,551,113
                                
Add incremental shares from                       
assumed exercise of stock       
options (fully-diluted)            406,491          728,973          286,785        862,052
                                
                               144,523,102      146,470,209      144,280,865    146,413,165 
                                
Fully-diluted earnings                            
per share                        $     .22        $     .30        $     .57      $     .74 




NOTE:  The information provided above 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.  The information in this exhibit 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%.