SEC Form 4

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Hailey, V.     Ann (Last)                      (First)                      (Middle) Three Limited Parkway (Street) Columbus, OH     43230 (City)                      (State)                      (Zip)

2. Issuer Name and Ticker     or Trading Symbol Limited Brands, Inc.   LTD 3. I.R.S. Identification     Number of Reporting     Person, if an entity     (voluntary)

4. Statement for     (Month/Year)     February 3, 2003 5. If Amendment,     Date of Original     (Month/Year)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)                         Director                           10% Owner            X          Officer                             Other Officer/Other Description           Executive Vice President and Chief Financial Officer 7. Individual or Joint/Group     Filing (Check Applicable Line) X   Individual Filing       Joint/Group Filing

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security     (Instr. 3)	2. Transaction Date     (Month/Day/Year)	3. Transaction     Code     and     Voluntary     Code     (Instr. 8) Code  |  V	4. Securities Acquired (A) or Disposed (D) Of     (Instr. 3, 4, and 5)         Amount      |         A/D         |         Price	5. Amount of     Securities     Beneficially     Owned at     End ofMonth     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
Common Stock, $0.50 par value	12/31/2002	G |	270   |           D           |		D
Common Stock, $0.50 par value	02/03/2003	F |	14,800   |           D           |	243,526	D
Common Stock, $0.50 par value	12/31/2002	G |	270   |           A           |	1,250	I	Minor Child
Common Stock, $0.50 par value				4,400	I	SARP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). (over) SEC 1474 (3-99)

Hailey, V. Ann - February 3, 2003

Form 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security     (Instr. 3)	2. Conver-     sion or     Exercise     Price of     Deri-     vative     Security	3. Transaction     Date     (Month/     Day/     Year)	4. Transaction     Code     and     Voluntary (V)     Code     (Instr.8) Code | V	5. Number of Derivative     Securities Acquired (A)     or Disposed (D) Of     (Instr. 3,4 and 5)	6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)   (DE)     |     (ED)	7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)	8. Price     of     Derivative     Security     (Instr.5)	9. Number of     Derivative     Securities     Beneficially     Owned     at End of     Month     (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I)	11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)
Stock Option - Right to Buy	$12.6600	02/03/2003	A |	(A) 100,000	(1) | 02/03/2013	Common Stock, $0.50 par value - 100,000		100,000	D

Explanation of Responses :

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.         See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient,             See Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

/s/ Robert J. Tannous                                   2/5/03 ________________________________         __________________ ** Signature of Reporting Person                         Date By: Robert J. Tannous, Attorney-in-Fact for V. Ann Hailey Page 2 SEC 1474 (3-99)

Hailey, V. Ann - February 3, 2003

Form 4 (continued)

FOOTNOTE Descriptions for Limited Brands, Inc. LTD Form 4 - February 3, 2003 V. Ann Hailey Three Limited Parkway Columbus, OH 43230 Explanation of responses: (1)   Option vests 25% per year beginning on the first anniversary of the date of grant.

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