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<TITLE>
Form S-8
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<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=755>
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     <TD WIDTH=75% ALIGN=RIGHT>
          <FONT SIZE=-1>As filed with the Securities and Exchange Commission on June 15,
          2001</FONT>
     </TD>
     <TD WIDTH=25%>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=RIGHT><FONT SIZE=-1>Registration No. 333-_____</FONT></TD>
</TR>
</TABLE>

<HR SIZE=4>

<CENTER>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>

<HR SIZE=1 NOSHADE WIDTH=35%>

<FONT SIZE=+1><B>FORM S-8</B></FONT><BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR>

<HR SIZE=1 NOSHADE WIDTH=35%>

<FONT SIZE=+1><B>THE ST. PAUL COMPANIES, INC.</B></FONT><BR>
<FONT SIZE=-2>(Exact name of Registrant as specified in its charter)</FONT>
</CENTER>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=755>
<TR VALIGN=TOP>
     <TD WIDTH=32%> </TD>
     <TD WIDTH=36%> </TD>
     <TD WIDTH=32%> </TD>
</TR>
<TR VALIGN=TOP>
     <TD ALIGN=CENTER><B><FONT SIZE=-1>Minnesota</FONT></B><BR>
            <FONT SIZE=-2>(State or other jurisdiction of incorporation or<BR>
            organization)</FONT></TD>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><FONT SIZE=-1><B>41-0518860</B></FONT><BR>
            <FONT SIZE=-2>(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><HR SIZE=1 NOSHADE></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><FONT SIZE=-1><B>385 Washington Street<BR>
                      St. Paul, Minnesota 55102<BR>
                      (651) 310-7911</B></FONT><BR>
                      <FONT SIZE=-2>(Address of Principal Executive Offices)</FONT></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><HR SIZE=1 NOSHADE></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><B><FONT SIZE=-1>Deferred Stock Plan for<BR>
                      Non-Employee Directors</FONT></B><BR>
                      <FONT SIZE=-2>(Full Title of the Plan)</FONT></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><HR SIZE=1 NOSHADE></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><B><FONT SIZE=-1>Bruce A. Backberg, Esq.<BR>
                         Senior Vice President and Corporate Secretary<BR>
                         The St. Paul Companies, Inc.<BR>
                         385 Washington Street<BR>
                         St. Paul, MN  55102<BR>
                         (651) 310-7911</FONT></B><BR>
                      <FONT SIZE=-2>(Name, address and telephone number of agent for service)</FONT></TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><HR SIZE=1 NOSHADE></TD>
     <TD>&nbsp;</TD>
</TR>
</TABLE>

<P ALIGN=CENTER>
<B>CALCULATION OF REGISTRATION FEE</B>
</P>

<TABLE CELLPADDING=5 CELLSPACING=0 BORDER=2 WIDTH=750>
<TR VALIGN=BOTTOM>
     <TD WIDTH=32% ALIGN=CENTER><FONT SIZE=-2><B>Title of Securities<BR>
                                to be Registered</B></FONT></TD>
     <TD WIDTH=17% ALIGN=CENTER><FONT SIZE=-2><B>Amount to be<BR>
                                Registered</B></FONT></TD>
     <TD WIDTH=17% ALIGN=CENTER><FONT SIZE=-2><B>Proposed Maximum<BR>
                                Offering Price<BR>
                                Per Share(2)</B></FONT></TD>
     <TD WIDTH=17% ALIGN=CENTER><FONT SIZE=-2><B>Proposed Maximum<BR>
                                Aggregate Offering<BR>
                                Price(2)</B></FONT></TD>
     <TD WIDTH=17% ALIGN=CENTER><FONT SIZE=-2><B>Amount of<BR>
                                Registration<BR>
                                Fee(2)</B></FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT SIZE=-1>Common Stock, without par value(1)<BR></FONT></TD>
     <TD ALIGN=CENTER><FONT SIZE=-1>300,000</FONT></TD>
     <TD ALIGN=CENTER><FONT SIZE=-1>$49.765</FONT></TD>
     <TD ALIGN=CENTER><FONT SIZE=-1>$14,929,500</FONT></TD>
     <TD ALIGN=CENTER><FONT SIZE=-1>$3,732.38</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING=0 CELLSPACING=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=-2>(1)</FONT></TD>
<TD WIDTH=95%><FONT SIZE=-2>
In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended,
this Registration Statement includes an indeterminate number of additional
shares as may be issuable as a result of anti-dilution provisions included in
the Deferred Stock Plan for Non-Employee Directors.</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD><FONT SIZE=-2>(2)</FONT></TD>
<TD><FONT SIZE=-2>
Pursuant to Rule 457(h)(1) and 457(c) of the Securities Act of 1933, as amended,
the proposed maximum offering price per share, the proposed maximum aggregate
offering price and the amount of the registration fee are based upon the average
of the high and low prices of the Common Stock on the New York Stock Exchange as
reported in the consolidated transaction reporting system on June 11,
2001.</FONT></TD>
</TR>
</TABLE>
<BR>


<PAGE>

<H4 ALIGN=CENTER>
PART I
</H4>

<H4 ALIGN=CENTER>
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
</H4>

<P ALIGN=CENTER>
<U>EXPLANATORY NOTE</U>
</P>


<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As permitted by Rule 428 under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), this Registration Statement omits the information specified
in Part I of Form S-8. The documents containing the information specified in
Part I will be delivered to the participants in the plan covered by this
Registration Statement, as required by Rule 428(b). Such documents are not being
filed with the Securities and Exchange Commission (the &#147;Commission&#148;) as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424 of the Securities Act.

</P>


<P ALIGN=CENTER>
2
</P>
<PAGE>


<H4 ALIGN=CENTER>
PART II
</H4>

<H4 ALIGN=CENTER>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
</H4>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 3.</B></P></TD>
<TD WIDTH=93%><P>
<B>Incorporation of Documents By Reference</B></P>
</TD>
</TR>
</TABLE>
<BR>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following documents filed by The St. Paul Companies, Inc. (the &#147;Company&#148;)
are hereby incorporated by reference in this Registration Statement:
</P>

<UL>
<LI>Annual Report on Form 10-K, as filed with the Commission on March 28, 2001.

<LI>Definitive Proxy Statement on Schedule 14A as filed with the Commission on March
27, 2001.

<LI>Quarterly Report on Form 10-Q, as filed with the Commission on May 14, 2001.

<LI>Current Report on Form 8-K, as filed with the Commission on April 30, 2001.

<LI>Current Report on Form 8-K, as filed with the Commission on March 12, 2001.

<LI>The description of the Company&#146;s Common Stock contained in its
registration statement on Form 8-A, including any amendments or supplements
thereto, as filed with the Commission on October&nbsp;17, 1991.
</UL>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All documents filed by the Company pursuant to Section 13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934 after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this
Registration Statement which indicates that all securities offered hereby have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be
a part hereof from the filing date of such documents.
</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein (or
in any other subsequently filed document which also is incorporated or deemed to
be incorporated by reference herein) modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
</P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 4.</B></P></TD>
<TD WIDTH=93%><P>
<B>Description of Securities</B></P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P> </P></TD>
<TD WIDTH=93%><P>
Not applicable.</P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 5.</B></P></TD>
<TD WIDTH=93%><P>
<B>Interests of Named Experts and Counsel</B></P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P> </P></TD>
<TD WIDTH=93%><P>
Not applicable.</P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 6.</B></P></TD>
<TD WIDTH=93%><P>
<B>Indemnification of Directors and Officers</B></P>
</TD>
</TR>
</TABLE>
<BR>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Minnesota Statute Section 302A.521 provides that a Minnesota business
corporation shall indemnify any director, officer, or employee of the
corporation made or threatened to be made a party to a
</P>


<P ALIGN=CENTER>
II-1
</P>

<PAGE>

<P>
proceeding, by reason of the former or present official capacity (as
defined) of the person, against judgments, penalties, fines, settlements and
reasonable expenses incurred by the person in connection with the proceeding if
certain statutory standards are met. &#147;Proceeding&#148; means a threatened, pending or
completed civil, criminal, administrative, arbitration or investigative
proceeding, including one by or in the right of the corporation. Section
302A.521 contains detailed terms regarding such right of indemnification and
reference is made thereto for a complete statement of such indemnification
rights.
</P>


<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bylaws of the Company provide, subject to certain exceptions, that directors
and officers of the Company and certain others shall be indemnified by the
Company to the fullest extent permitted or required by Minnesota Statute Section
302A.521.
</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company maintains directors&#146; and officers&#146; liability insurance, including a
reimbursement policy in favor of the Company.
</P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 7.</B></P></TD>
<TD WIDTH=93%><P>
<B>Exemption from Registration Claimed</B></P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P> </P></TD>
<TD WIDTH=93%><P>
Not applicable.</P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 8.</B></P></TD>
<TD WIDTH=93%><P>
<B>Exhibits</B></P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=BOTTOM>
<TD WIDTH=10% ALIGN=LEFT><P>Exhibit<BR>
        <U>&nbsp;&nbsp;&nbsp;No.&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD WIDTH=90%><P><U>Description</U></P>
</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>4.1</P></TD>
<TD WIDTH=90%>
Restated Articles of Incorporation of the Company (incorporated herein by
reference to Exhibit 3 of the Company&#146;s Annual Report on Form 10-K for the year
ended December 31, 1998)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>4.2</P></TD>
<TD WIDTH=90%>
Bylaws of the Company (incorporated herein by reference to Exhibit 3(b) of the
Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2000)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>5.1</P></TD>
<TD WIDTH=90%>
Opinion and Consent of Bruce A. Backberg, Esq.<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>23.1</P></TD>
<TD WIDTH=90%>
Consent of Bruce A. Backberg, Esq. (included in Exhibit 5.1)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>23.2</P></TD>
<TD WIDTH=90%>
Consent of KPMG LLP.<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>24.1</P></TD>
<TD WIDTH=90%>
Powers of Attorney<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>99.1</P></TD>
<TD WIDTH=90%>
Deferred Stock Plan for Non-Employee Directors (incorporated herein by reference
to Exhibit 10(a) of the Company&#146;s Annual Report on Form 10-K for the year ended
December 31, 2000)<BR><BR>
</TD>
</TR>
</TABLE>



<P ALIGN=CENTER>
II-2
</P>

<PAGE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P><B>Item 9.</B></P></TD>
<TD WIDTH=93%>Undertakings</TD>
</TR>
</TABLE>

<P>The undersigned registrant hereby undertakes:</P>

<P>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:</P>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P>&nbsp;</P></TD>
<TD WIDTH=5% ALIGN=LEFT><P>(i)</P></TD>
<TD WIDTH=88%>To include any prospectus required by Section 10(a)(3) of the
Securities Act;</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P>&nbsp;</P></TD>
<TD WIDTH=5% ALIGN=LEFT><P>(ii)</P></TD>
<TD WIDTH=88%>To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in aggregate, represent a fundamental
change in the information set forth in this Registration Statement.</TD>
</TR>
</TABLE>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=7% ALIGN=LEFT><P>&nbsp;</P></TD>
<TD WIDTH=5% ALIGN=LEFT><P>(iii)</P></TD>
<TD WIDTH=88%>To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=7%>&nbsp;</TD>
<TD WIDTH=93%>
<I>provided, however, </I>that paragraphs (a)(1)(i) and (a)(1)(ii) of this Item
9 do not apply if the information required to be included in the post-effective
amendment by those paragraphs is contained in periodic reports filed by the
Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.</TD>
</TR>
</TABLE>
<BR>

<P>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall
be deemed to be a new Registration Statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide</I> offering thereof.</P>

<P>(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.</P>

<P>(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Company hereby
undertakes that, for purposes of determining any liability under the Securities
Act, each filing of the Company&#146;s annual report pursuant to Section 13(a)
or 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act)
that is incorporated by reference in this Registration Statement shall be deemed
to be a new Registration Statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof.</P>

<P>(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Company pursuant to the foregoing
provisions, or otherwise, the Company has been advised that, in the opinion of
the Securities and Exchange Commission, such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
any event that a claim for indemnification against such liabilities (other than
the payment by the Company of expenses incurred or paid by a director, officer
or controlling person of the Company in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of</P>



<P ALIGN=CENTER>
II-3
</P>

<PAGE>

<P>appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.</P>


<P ALIGN=CENTER>
II-4
</P>


<PAGE>



<H4 ALIGN=CENTER>SIGNATURES</H4>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of St. Paul, Minnesota, on June 15, 2001.
</P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
     <TD WIDTH=50%>&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;</TD>
     <TD WIDTH=44%>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD COLSPAN=3>THE ST. PAUL COMPANIES, INC.</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD>By:</TD>
     <TD>&nbsp;/s/</TD>
     <TD><U>Bruce A. Backberg</U></TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD COLSPAN=2>Name:</TD>
     <TD>Bruce A. Backberg</TD>
</TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD COLSPAN=2>Title:</TD>
     <TD>Senior Vice President and Corporate Secretary</TD>
</TR>
</TABLE>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons on behalf of The St.
Paul Companies, Inc. and in the capacities and on the dates indicated.
</P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Douglas W. Leatherdale</U><BR>
Douglas W. Leatherdale, Director, Chairman of<BR>
the Board, President and Chief Executive Officer<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Thomas A. Bradley</U><BR>
Thomas A. Bradley, Senior Vice President-Finance<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ John C. Treacy</U><BR>
John C. Treacy, Vice President and Corporate Controller <BR>
(principal accounting officer)<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ H. Furlong Baldwin</U><BR>
H. Furlong Baldwin*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Carolyn H. Byrd</U><BR>
Carolyn H. Byrd*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ John H. Dasburg</U><BR>
John H. Dasburg*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Janet M. Dolan</U><BR>
Janet M. Dolan*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Kenneth M. Duberstein</U><BR>
Kenneth M. Duberstein*, Director<BR>
<BR>
</TD>
</TR>
</TABLE>


<P ALIGN=CENTER>
II-5
</P>

<PAGE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Pierson M. Grieve</U><BR>
Pierson M. Grieve*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Thomas R. Hodgson</U><BR>
Thomas R. Hodgson*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ David G. John</U><BR>
David G. John*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ William H. Kling</U><BR>
William H. Kling*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Bruce K. MacLaury</U><BR>
Bruce K. MacLaury*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Glen D. Nelson, M.D.</U><BR>
Glen D. Nelson, M.D.*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>By:</TD>
     <TD WIDTH=55%>
<U>/s/ Gordon M. Sprenger</U><BR>
Gordon M. Sprenger*, Director<BR>
<BR>
</TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=5%>Date:</TD>
     <TD WIDTH=35%>June 15, 2001</TD>
     <TD WIDTH=5%>*By:</TD>
     <TD WIDTH=55%>
<U>/s/ Bruce A. Backberg</U><BR>
Bruce A. Backberg, Attorney-in-fact<BR>
<BR>
</TD>
</TR>
</TABLE>



<P ALIGN=CENTER>
II-6
</P>


<PAGE>

<P ALIGN=CENTER>
INDEX TO EXHIBITS
</P>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=750>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>4.1</P></TD>
<TD WIDTH=90%>
Restated Articles of Incorporation of the Company (incorporated herein by
reference to Exhibit 3 of the Company&#146;s Annual Report on Form 10-K for the year
ended December 31, 1998)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>4.2</P></TD>
<TD WIDTH=90%>
Bylaws of the Company (incorporated herein by reference to Exhibit 3(b) of the
Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2000)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>5.1</P></TD>
<TD WIDTH=90%>
Opinion and Consent of Bruce A. Backberg, Esq.<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>23.1</P></TD>
<TD WIDTH=90%>
Consent of Bruce A. Backberg, Esq. (included in Exhibit 5.1)<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>23.2</P></TD>
<TD WIDTH=90%>
Consent of KPMG LLP.<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>24.1</P></TD>
<TD WIDTH=90%>
Powers of Attorney<BR><BR>
</TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><P>99.1</P></TD>
<TD WIDTH=90%>
Deferred Stock Plan for Non-Employee Directors (incorporated herein by reference
to Exhibit 10(a) of the Company&#146;s Annual Report on Form 10-K for the year ended
December 31, 2000)<BR><BR>
</TD>
</TR>
</TABLE>

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "sc0051-01.htm", "description": "FORM S-8", "secsgml_size_bytes": 24666}]
{"company-data": {"conformed-name": "ST PAUL COMPANIES INC /MN/", "cik": "0000086312", "assigned-sic": "6331", "irs-number": "410518860", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-63114", "film-number": "1661615"}, "business-address": {"street1": "385 WASHINGTON ST", "city": "SAINT PAUL", "state": "MN", "zip": "55102", "phone": "6123107911"}, "former-company": [{"former-conformed-name": "ST PAUL COMPANIES INC /MN/", "date-changed": "19920703"}, {"former-conformed-name": "SAINT PAUL COMPANIES INC", "date-changed": "19900730"}]}
Form S-8
As filed with the Securities and Exchange Commission on June 15,
          2001
Registration No. 333-_____
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
THE ST. PAUL COMPANIES, INC.
(Exact name of Registrant as specified in its charter)
Minnesota
(State or other jurisdiction of incorporation or
organization)
41-0518860
(I.R.S. Employer Identification No.)
385 Washington Street
St. Paul, Minnesota 55102
(651) 310-7911
(Address of Principal Executive Offices)
Deferred Stock Plan for
Non-Employee Directors
(Full Title of the Plan)
Bruce A. Backberg, Esq.
Senior Vice President and Corporate Secretary
The St. Paul Companies, Inc.
385 Washington Street
St. Paul, MN  55102
(651) 310-7911
(Name, address and telephone number of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to be
Registered
Proposed Maximum
Offering Price
Per Share(2)
Proposed Maximum
Aggregate Offering
Price(2)
Amount of
Registration
Fee(2)
Common Stock, without par value(1)
300,000
$49.765
$14,929,500
$3,732.38
(1)
In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended,
this Registration Statement includes an indeterminate number of additional
shares as may be issuable as a result of anti-dilution provisions included in
the Deferred Stock Plan for Non-Employee Directors.
(2)
Pursuant to Rule 457(h)(1) and 457(c) of the Securities Act of 1933, as amended,
the proposed maximum offering price per share, the proposed maximum aggregate
offering price and the amount of the registration fee are based upon the average
of the high and low prices of the Common Stock on the New York Stock Exchange as
reported in the consolidated transaction reporting system on June 11,
2001.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
EXPLANATORY NOTE
As permitted by Rule 428 under the Securities Act of 1933, as amended (the
"Securities Act"), this Registration Statement omits the information specified
in Part I of Form S-8. The documents containing the information specified in
Part I will be delivered to the participants in the plan covered by this
Registration Statement, as required by Rule 428(b). Such documents are not being
filed with the Securities and Exchange Commission (the "Commission") as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424 of the Securities Act.
2
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents By Reference
The following documents filed by The St. Paul Companies, Inc. (the "Company")
are hereby incorporated by reference in this Registration Statement:
Annual Report on Form 10-K, as filed with the Commission on March 28, 2001.
Definitive Proxy Statement on Schedule 14A as filed with the Commission on March
27, 2001.
Quarterly Report on Form 10-Q, as filed with the Commission on May 14, 2001.
Current Report on Form 8-K, as filed with the Commission on April 30, 2001.
Current Report on Form 8-K, as filed with the Commission on March 12, 2001.
The description of the Company's Common Stock contained in its
registration statement on Form 8-A, including any amendments or supplements
thereto, as filed with the Commission on October 17, 1991.
All documents filed by the Company pursuant to Section 13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934 after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this
Registration Statement which indicates that all securities offered hereby have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be
a part hereof from the filing date of such documents.
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein (or
in any other subsequently filed document which also is incorporated or deemed to
be incorporated by reference herein) modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Minnesota Statute Section 302A.521 provides that a Minnesota business
corporation shall indemnify any director, officer, or employee of the
corporation made or threatened to be made a party to a
II-1
proceeding, by reason of the former or present official capacity (as
defined) of the person, against judgments, penalties, fines, settlements and
reasonable expenses incurred by the person in connection with the proceeding if
certain statutory standards are met. "Proceeding" means a threatened, pending or
completed civil, criminal, administrative, arbitration or investigative
proceeding, including one by or in the right of the corporation. Section
302A.521 contains detailed terms regarding such right of indemnification and
reference is made thereto for a complete statement of such indemnification
rights.
The Bylaws of the Company provide, subject to certain exceptions, that directors
and officers of the Company and certain others shall be indemnified by the
Company to the fullest extent permitted or required by Minnesota Statute Section
302A.521.
The Company maintains directors' and officers' liability insurance, including a
reimbursement policy in favor of the Company.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits
Exhibit
No.
Description
4.1
Restated Articles of Incorporation of the Company (incorporated herein by
reference to Exhibit 3 of the Company's Annual Report on Form 10-K for the year
ended December 31, 1998)
4.2
Bylaws of the Company (incorporated herein by reference to Exhibit 3(b) of the
Company's Annual Report on Form 10-K for the year ended December 31, 2000)
5.1
Opinion and Consent of Bruce A. Backberg, Esq.
23.1
Consent of Bruce A. Backberg, Esq. (included in Exhibit 5.1)
23.2
Consent of KPMG LLP.
24.1
Powers of Attorney
99.1
Deferred Stock Plan for Non-Employee Directors (incorporated herein by reference
to Exhibit 10(a) of the Company's Annual Report on Form 10-K for the year ended
December 31, 2000)
II-2
Item 9.
Undertakings
The undersigned registrant hereby undertakes:
(1)      To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in aggregate, represent a fundamental
change in the information set forth in this Registration Statement.
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) of this Item
9 do not apply if the information required to be included in the post-effective
amendment by those paragraphs is contained in periodic reports filed by the
Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.
(2)      That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall
be deemed to be a new Registration Statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3)      To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.
(4)      The undersigned Company hereby
undertakes that, for purposes of determining any liability under the Securities
Act, each filing of the Company's annual report pursuant to Section 13(a)
or 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange Act)
that is incorporated by reference in this Registration Statement shall be deemed
to be a new Registration Statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
(5)      Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Company pursuant to the foregoing
provisions, or otherwise, the Company has been advised that, in the opinion of
the Securities and Exchange Commission, such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
any event that a claim for indemnification against such liabilities (other than
the payment by the Company of expenses incurred or paid by a director, officer
or controlling person of the Company in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of
II-3
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of St. Paul, Minnesota, on June 15, 2001.
THE ST. PAUL COMPANIES, INC.
By:
/s/
Bruce A. Backberg
Name:
Bruce A. Backberg
Title:
Senior Vice President and Corporate Secretary
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons on behalf of The St.
Paul Companies, Inc. and in the capacities and on the dates indicated.
Date:
June 15, 2001
By:
/s/ Douglas W. Leatherdale
Douglas W. Leatherdale, Director, Chairman of
the Board, President and Chief Executive Officer
Date:
June 15, 2001
By:
/s/ Thomas A. Bradley
Thomas A. Bradley, Senior Vice President-Finance
Date:
June 15, 2001
By:
/s/ John C. Treacy
John C. Treacy, Vice President and Corporate Controller
(principal accounting officer)
Date:
June 15, 2001
By:
/s/ H. Furlong Baldwin
H. Furlong Baldwin*, Director
Date:
June 15, 2001
By:
/s/ Carolyn H. Byrd
Carolyn H. Byrd*, Director
Date:
June 15, 2001
By:
/s/ John H. Dasburg
John H. Dasburg*, Director
Date:
June 15, 2001
By:
/s/ Janet M. Dolan
Janet M. Dolan*, Director
Date:
June 15, 2001
By:
/s/ Kenneth M. Duberstein
Kenneth M. Duberstein*, Director
II-5
Date:
June 15, 2001
By:
/s/ Pierson M. Grieve
Pierson M. Grieve*, Director
Date:
June 15, 2001
By:
/s/ Thomas R. Hodgson
Thomas R. Hodgson*, Director
Date:
June 15, 2001
By:
/s/ David G. John
David G. John*, Director
Date:
June 15, 2001
By:
/s/ William H. Kling
William H. Kling*, Director
Date:
June 15, 2001
By:
/s/ Bruce K. MacLaury
Bruce K. MacLaury*, Director
Date:
June 15, 2001
By:
/s/ Glen D. Nelson, M.D.
Glen D. Nelson, M.D.*, Director
Date:
June 15, 2001
By:
/s/ Gordon M. Sprenger
Gordon M. Sprenger*, Director
Date:
June 15, 2001
*By:
/s/ Bruce A. Backberg
Bruce A. Backberg, Attorney-in-fact
II-6
INDEX TO EXHIBITS
4.1
Restated Articles of Incorporation of the Company (incorporated herein by
reference to Exhibit 3 of the Company's Annual Report on Form 10-K for the year
ended December 31, 1998)
4.2
Bylaws of the Company (incorporated herein by reference to Exhibit 3(b) of the
Company's Annual Report on Form 10-K for the year ended December 31, 2000)
5.1
Opinion and Consent of Bruce A. Backberg, Esq.
23.1
Consent of Bruce A. Backberg, Esq. (included in Exhibit 5.1)
23.2
Consent of KPMG LLP.
24.1
Powers of Attorney
99.1
Deferred Stock Plan for Non-Employee Directors (incorporated herein by reference
to Exhibit 10(a) of the Company's Annual Report on Form 10-K for the year ended
December 31, 2000)