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<TITLE> New ESBIP - Form S-8
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>As filed with the
Securities and Exchange Commission on July 24, 2003  </B></FONT><BR>

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<DIV ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Registration No.&nbsp;&nbsp;333-___________</B></FONT></DIV>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND
EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</FONT></H1>

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<P ALIGN=CENTER>_________________ </P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933</FONT></H1>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>THE TALBOTS, INC.<BR>
(Exact name of registrant as specified in its charter) </FONT></P>

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     <TD WIDTH="61%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;Delaware</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="35%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41-1111318</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT">&nbsp;</TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>(State or other jurisdiction of incorporation or organization)</FONT></TD>
<TD ALIGN="LEFT">&nbsp;</TD>
     <TD ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>(I.R.S. Employer Identification No.)</FONT></TD><TD ALIGN="LEFT">&nbsp;</TD></TR>
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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>One Talbots Drive <BR>
Hingham, Massachusetts 02043<BR>
(Address, including zip code of registrant&#146;s principal executive offices)</FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>THE TALBOTS, INC.
2003 EXECUTIVE STOCK BASED INCENTIVE PLAN<BR>
(Full title of the Plan) </FONT></P>

<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>Edward L. Larsen<BR>
The Talbots, Inc.<BR>
One Talbots Drive<BR>
Hingham, Massachusetts 02043<BR>
(781) 741-7600<BR>
(Name, Address, and Telephone Number of Agent For Service)</FONT></P>



<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>With a Copy to:<BR>
Warren J. Casey, Esq.<BR>
Pitney, Hardin, Kipp &amp; Szuch LLP<BR>
P.O. Box 1945<BR>
Morristown, New Jersey 07962-1945<BR>
(973) 966-6300</FONT></P><BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF
REGISTRATION FEE</FONT></H1>

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     <TD WIDTH="22%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Title Of Securities</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Amount To Be</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="15%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Proposed Maximum<BR>Offering Price</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="19%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Proposed Maximum<BR>Aggregate Offering</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="17%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Amount Of</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;&nbsp;To Be Registered</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Registered (1)</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Per Share (2)</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Price (2)</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Registration Fee</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD></TR>
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     <TD WIDTH="22%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">Common Stock, par<BR>value $0.01 per share</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">7,000,000</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="15%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">$32.61</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="19%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">$228,270,000</FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="17%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">$18,467.04</FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="-1">&nbsp;</FONT></TD></TR>
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<P>_________________ </P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(1) </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Pursuant
     to  Rule  416(b)  under  the  Securities  Act  of  1933,  as  amended  (the
&#147;Securities  Act&#148;)  shares of Common Stock may be issuable pursuant to
anti-dilution  provisions  of the  Talbots,  Inc.  2003  Executive  Stock  Based
Incentive Plan (the &#147;Plan&#148;). </FONT></TD>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Estimated
     solely for the purpose of calculating the  registration  fee. Such estimate
has been  computed in  accordance  with Rule  457(c) and Rule  457(h)  under the
Securities Act based on the average high and low prices of the Registrant&#146;s
Common  Stock  as  reported  on the New York  Stock  Exchange  on July 21, 2003.
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>PART II <BR>INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM&nbsp;3.  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Incorporation of Documents by Reference </U></FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed by the Registrant with the Commission are incorporated by
reference in this Registration Statement: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Registrant&#146;s Annual Report on Form 10-K for the year ended February 1, 2003
filed on April 22, 2003. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Registrant&#146;s  Proxy Statement in connection with its 2003 Annual Meeting of
Shareholders, filed on April 22, 2003. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Registrant's Quarterly Report on Form
10-Q for the quarter ended May 3, 2003, filed on June 16, 2003. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> All
     other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of
the   Exchange   Act  since  the  end  of  the  fiscal   year   covered  by  the
Registrant&#146;s latest annual report.
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
     description  of  the  Registrant&#146;s  Common  Stock,  $0.01  par  value,
contained  in the  Registrant&#146;s  Registration  Statement  on Form  S-1 (No.
33-69082),  which  Registration  Statement became  effective  November 18, 1993.
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents filed by the Registrant after the date of this Registration Statement pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended
(the &#147;Exchange Act&#148;), prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities
then remaining unsold, hereby are incorporated herein by reference and shall be deemed a
part hereof from the date of filing 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 or is
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. </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM &nbsp;4. </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Description
of Securities </U></FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Not applicable. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM&nbsp;5.  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Interests of Named Experts and Counsel </U></FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>None. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM &nbsp;6. </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Indemnification
of Directors and Officers</U> </FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 145 of the Delaware General
Corporation Act permits the Registrant to indemnify officers, directors or employees
against expenses (including attorney&#146;s fees), judgments, fines and amounts paid in
settlement in connection with legal proceedings &#147;if [as to any officer, director or
employee] he acted in good faith and in a manner he reasonably believed to be in, or not
opposed to, the best interests of the corporation, and, with respect to any criminal act
or proceeding, had no reasonable cause to believe his conduct was unlawful,&#148; provided
that with respect to actions by, or in the right of, the corporation against, such
individuals, indemnification is not permitted as to any matter as to which such person
&#147;shall have been adjudged to be liable to the corporation, unless, and only to the
extent that, the Court of Chancery or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability, but in view
of all the circumstances of the case, such person is fairly and reasonably entitled to
indemnity for such expenses which the Court of Chancery or such other court shall deem
proper.&#148; Individuals who are successful in the defense of such action are entitled to
indemnity for such expenses reasonably incurred in connection therewith. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 6.4 of Article VI of the
By-laws of the Registrant provides in effect that the Registrant shall indemnify its
directors, officers and employees to the extent permitted by Section 145 of the General
Corporation Law of the State of Delaware. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The employment agreement between the
Registrant and Arnold B. Zetcher provides for indemnification of Mr. Zetcher as an officer
and director of the Registrant. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A policy of directors&#146; and
officers&#146; liability insurance is maintained by the Registrant which indemnifies
directors and officers for losses as a result of claims based upon certain acts or
omissions as directors and officers of the Registrant. </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 7. </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exemption from Registration Claimed </U></FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> &nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Not applicable. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM&nbsp;8.  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibits </U></FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>            5  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Pitney, Hardin, Kipp &amp; Szuch LLP  </FONT></TD>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>            23.1  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Deloitte &amp; Touche LLP  </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>            23.2  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Pitney, Hardin, Kipp &amp; Szuch LLP (included in Exhibit 5 hereto)  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>            24  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (set forth on signature page of the Registration Statement)  </FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM&nbsp;9.  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Undertakings</U></FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
undersigned Registrant hereby undertakes:  </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&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 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. &nbsp; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&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 </I><I>fide</I>  offering thereof. &nbsp; </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&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. &nbsp; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
     undersigned  Registrant hereby undertakes that, for purposes of determining any
liability  under the  Securities  Act, each filing of the  Registrant&#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.  </FONT></TD>
</TR>
</TABLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3</FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Insofar
     as indemnification  for liabilities arising under the Securities Act may be
permitted to  directors,  officers  and  controlling  persons of the  Registrant pursuant
to the foregoing  provisions,  or otherwise,  the  Registrant  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 the event  that a claim for  indemnification against such
 liabilities  (other than the payment by the Registrant of expenses incurred or paid by a
director,  officer or controlling person of the Registrant 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 Registrant will, unless in
the opinion of its counsel the matter has been  settled by  controlling  precedent,
 submit to a court of  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.  </FONT></TD>
</TR>
</TABLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4</FONT></P>

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</TD>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&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 the requirements for filing on Form S-8
and had duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereto duly authorized, in the Town of Hingham, State of Massachusetts, on
this 8th day of July, 2003. </FONT></P>




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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><BR></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>THE TALBOTS, INC.</B><BR><BR>
<BR>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EDWARD L. LARSEN<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Name:&nbsp;&nbsp;Edward L. Larsen<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, Finance,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer and Treasurer<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Principal Financial and Accounting Officer)</FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>POWER OF ATTORNEY </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
person whose signature to the Registration Statement appears below hereby appoints Edward
L. Larsen and Richard T. O&#146;Connell, Jr., and each individually, as his
attorney-in-fact to sign on his behalf individually and in the capacity stated below and
to file all subsequent amendments to the Registration Statement, which amendments may make
such changes and additions to this Registration Statement as such attorney-in-fact may
deem necessary or appropriate. </FONT></P>

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<TD>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by
the following persons in the capacities and on the dates indicated. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>    </FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Signature</U></B></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Title</U></B></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Date</U></B></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARNOLD B. ZETCHER
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Arnold B. Zetcher</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chairman of the Board,<BR>President and Chief Executive Officer<BR>
(Principal Executive Officer)</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EDWARD L. LARSEN
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Edward L. Larsen</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Senior Vice President, Finance<BR>
Chief Financial Officer and<BR>Treasurer (Principal Financial and<BR>Accounting Officer)</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TOSHIJI TOKIWA
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Toshiji Tokiwa</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>    </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PETER B. HAMILTON
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Peter B. Hamilton</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ELIZABETH T. KENNAN
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Elizabeth T. Kennan</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>YOICHI KIMURA
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Yoichi Kimura</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MOTOYA OKADA
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Motoya Okada</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUSAN M. SWAIN
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Susan M. Swain</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=35% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ISAO TSURUTA
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Isao Tsuruta</FONT></TD>
<TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 10, 2003</FONT></TD></TR>
</TABLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INDEX TO EXHIBITS</FONT></H1>


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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=12% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Exhibit No.</U></B>  </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=73%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Description </U></B></FONT></TD>
</TR>
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<BR>



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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</FONT></TD>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=79%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Pitney, Hardin, Kipp &amp;&nbsp;Szuch LLP </FONT></TD>
</TR>
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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1  </FONT></TD>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=79%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Deloitte &amp; Touche LLP</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2  </FONT></TD>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=79%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Pitney, Hardin, Kipp &amp;&nbsp;Szuch LLP (included in Exhibit 5 hereto) </FONT></TD>
</TR>
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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24  </FONT></TD>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=79%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (set forth on signature page of the Registration Statement) </FONT></TD>
</TR>
</TABLE>
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[{"type": "S-8", "sequence": "1", "filename": "new2003esbip_s-8.htm", "secsgml_size_bytes": 54443}]
{"company-data": {"conformed-name": "TALBOTS INC", "cik": "0000912263", "assigned-sic": "5621", "irs-number": "411111318", "state-of-incorporation": "DE", "fiscal-year-end": "0129"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-107317", "film-number": "03801637"}, "business-address": {"street1": "ONE TALBOTS DRIVE", "city": "HINGHAM", "state": "MA", "zip": "02043", "phone": "7817497600"}, "mail-address": {"street1": "ONE TALBOTS DRIVE", "city": "HINGHAM", "state": "MA", "zip": "02043"}}
New ESBIP - Form S-8
As filed with the
Securities and Exchange Commission on July 24, 2003
Registration No.  333-___________
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
THE TALBOTS, INC.
(Exact name of registrant as specified in its charter)
Delaware
41-1111318
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
One Talbots Drive
Hingham, Massachusetts 02043
(Address, including zip code of registrant's principal executive offices)
THE TALBOTS, INC.
2003 EXECUTIVE STOCK BASED INCENTIVE PLAN
(Full title of the Plan)
Edward L. Larsen
The Talbots, Inc.
One Talbots Drive
Hingham, Massachusetts 02043
(781) 741-7600
(Name, Address, and Telephone Number of Agent For Service)
With a Copy to:
Warren J. Casey, Esq.
Pitney, Hardin, Kipp & Szuch LLP
P.O. Box 1945
Morristown, New Jersey 07962-1945
(973) 966-6300
______________________________
CALCULATION OF
REGISTRATION FEE
Title Of Securities
Amount To Be
Proposed Maximum
Offering Price
Proposed Maximum
Aggregate Offering
Amount Of
To Be Registered
Registered (1)
Per Share (2)
Price (2)
Registration Fee
Common Stock, par
value $0.01 per share
7,000,000
$32.61
$228,270,000
$18,467.04
_________________
(1)
Pursuant
     to  Rule  416(b)  under  the  Securities  Act  of  1933,  as  amended  (the
"Securities  Act")  shares of Common Stock may be issuable pursuant to
anti-dilution  provisions  of the  Talbots,  Inc.  2003  Executive  Stock  Based
Incentive Plan (the "Plan").
(2)
Estimated
     solely for the purpose of calculating the  registration  fee. Such estimate
has been  computed in  accordance  with Rule  457(c) and Rule  457(h)  under the
Securities Act based on the average high and low prices of the Registrant's
Common  Stock  as  reported  on the New York  Stock  Exchange  on July 21, 2003.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
ITEM 3.
Incorporation of Documents by Reference
The
following documents filed by the Registrant with the Commission are incorporated by
reference in this Registration Statement:
(a)
The
Registrant's Annual Report on Form 10-K for the year ended February 1, 2003
filed on April 22, 2003.
(b)
The
Registrant's  Proxy Statement in connection with its 2003 Annual Meeting of
Shareholders, filed on April 22, 2003.
(c)
The Registrant's Quarterly Report on Form
10-Q for the quarter ended May 3, 2003, filed on June 16, 2003.
(d)
All
     other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of
the   Exchange   Act  since  the  end  of  the  fiscal   year   covered  by  the
Registrant's latest annual report.
(e)
The
     description  of  the  Registrant's  Common  Stock,  $0.01  par  value,
contained  in the  Registrant's  Registration  Statement  on Form  S-1 (No.
33-69082),  which  Registration  Statement became  effective  November 18, 1993.
All
documents filed by the Registrant after the date of this Registration Statement pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities
then remaining unsold, hereby are incorporated herein by reference and shall be deemed a
part hereof from the date of filing 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 or is
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
None.
ITEM  6.
Indemnification
of Directors and Officers
Section 145 of the Delaware General
Corporation Act permits the Registrant to indemnify officers, directors or employees
against expenses (including attorney's fees), judgments, fines and amounts paid in
settlement in connection with legal proceedings "if [as to any officer, director or
employee] he acted in good faith and in a manner he reasonably believed to be in, or not
opposed to, the best interests of the corporation, and, with respect to any criminal act
or proceeding, had no reasonable cause to believe his conduct was unlawful," provided
that with respect to actions by, or in the right of, the corporation against, such
individuals, indemnification is not permitted as to any matter as to which such person
"shall have been adjudged to be liable to the corporation, unless, and only to the
extent that, the Court of Chancery or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability, but in view
of all the circumstances of the case, such person is fairly and reasonably entitled to
indemnity for such expenses which the Court of Chancery or such other court shall deem
proper." Individuals who are successful in the defense of such action are entitled to
indemnity for such expenses reasonably incurred in connection therewith.
2
Section 6.4 of Article VI of the
By-laws of the Registrant provides in effect that the Registrant shall indemnify its
directors, officers and employees to the extent permitted by Section 145 of the General
Corporation Law of the State of Delaware.
The employment agreement between the
Registrant and Arnold B. Zetcher provides for indemnification of Mr. Zetcher as an officer
and director of the Registrant.
A policy of directors' and
officers' liability insurance is maintained by the Registrant which indemnifies
directors and officers for losses as a result of claims based upon certain acts or
omissions as directors and officers of the Registrant.
ITEM 7.
Exemption from Registration Claimed
Not applicable.
ITEM 8.
Exhibits
5
Opinion
of Pitney, Hardin, Kipp & Szuch LLP
23.1
Consent
of Deloitte & Touche LLP
23.2
Consent
of Pitney, Hardin, Kipp & Szuch LLP (included in Exhibit 5 hereto)
24
Power
of Attorney (set forth on signature page of the Registration Statement)
ITEM 9.
Undertakings
1.
The
undersigned Registrant hereby undertakes:
(a)    To
file,  during  any  period  in which  offers or sales  are  being  made,  a
post-effective  amendment to this Registration Statement 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.
(b)    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.
(c)    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.
2.
The
     undersigned  Registrant hereby undertakes that, for purposes of determining any
liability  under the  Securities  Act, each filing of the  Registrant'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.
3
3.
Insofar
     as indemnification  for liabilities arising under the Securities Act may be
permitted to  directors,  officers  and  controlling  persons of the  Registrant pursuant
to the foregoing  provisions,  or otherwise,  the  Registrant  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 the event  that a claim for  indemnification against such
 liabilities  (other than the payment by the Registrant of expenses incurred or paid by a
director,  officer or controlling person of the Registrant 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 Registrant will, unless in
the opinion of its counsel the matter has been  settled by  controlling  precedent,
 submit to a court of  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.
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 the requirements for filing on Form S-8
and had duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereto duly authorized, in the Town of Hingham, State of Massachusetts, on
this 8th day of July, 2003.
THE TALBOTS, INC.
By:      EDWARD L. LARSEN
——————————————
Name:  Edward L. Larsen
Title:    Senior Vice President, Finance,
Chief Financial Officer and Treasurer
(Principal Financial and Accounting Officer)
POWER OF ATTORNEY
Each
person whose signature to the Registration Statement appears below hereby appoints Edward
L. Larsen and Richard T. O'Connell, Jr., and each individually, as his
attorney-in-fact to sign on his behalf individually and in the capacity stated below and
to file all subsequent amendments to the Registration Statement, which amendments may make
such changes and additions to this Registration Statement as such attorney-in-fact may
deem necessary or appropriate.
5
Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by
the following persons in the capacities and on the dates indicated.
Signature
Title
Date
ARNOLD B. ZETCHER
——————————
Arnold B. Zetcher
Chairman of the Board,
President and Chief Executive Officer
(Principal Executive Officer)
July 10, 2003
EDWARD L. LARSEN
——————————
Edward L. Larsen
Senior Vice President, Finance
Chief Financial Officer and
Treasurer (Principal Financial and
Accounting Officer)
July 10, 2003
TOSHIJI TOKIWA
——————————
Toshiji Tokiwa
Director
July 10, 2003
PETER B. HAMILTON
——————————
Peter B. Hamilton
Director
July 10, 2003
ELIZABETH T. KENNAN
——————————
Elizabeth T. Kennan
Director
July 10, 2003
YOICHI KIMURA
——————————
Yoichi Kimura
Director
July 10, 2003
MOTOYA OKADA
——————————
Motoya Okada
Director
July 10, 2003
SUSAN M. SWAIN
——————————
Susan M. Swain
Director
July 10, 2003
ISAO TSURUTA
——————————
Isao Tsuruta
Director
July 10, 2003
6
INDEX TO EXHIBITS
Exhibit No.
Description
5
Opinion
of Pitney, Hardin, Kipp & Szuch LLP
23.1
Consent
of Deloitte & Touche LLP
23.2
Consent
of Pitney, Hardin, Kipp & Szuch LLP (included in Exhibit 5 hereto)
24
Power
of Attorney (set forth on signature page of the Registration Statement)
7