THE GAP, INC. AND SUBSIDIARIES 
COMPUTATION OF EARNINGS PER SHARE 
 
 
                                               Thirteen Weeks Ended 
                                       May 4, 1996           April 29, 1995 
 
Net earnings ($000)                       $ 81,573                 $50,113 
 
Weighted average shares of 
common stock outstanding 
during the period                      288,010,684             287,744,200 
 
Add incremental shares 
from assumed exercise of stock 
options (primary)                        3,314,299                 334,224 
 
                                       291,324,983             288,078,424 
 
Primary earnings per share             $      0.28             $      0.17 
 
Weighted average shares of 
common stock outstanding 
during the period                      288,010,684             287,744,200 
 
Add incremental shares from 
assumed exercise of stock 
options (fully-diluted)                  3,808,505                 334,158 
 
                                       291,819,189             288,078,358 
 
Fully-diluted earnings 
per share                              $      0.28             $      0.17 
 
 
 
 
NOTE: 
  (1) 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 share bases is less than 3%. 
 
  (2) All share and per share data have been restated to reflect the 2-
      for-1 split of common stock in the form of a stock dividend effective 
      April 10, 1996.