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      <H1 class=western>SECURITIES AND EXCHANGE COMMISSION</H1>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><B>Washington,
      D.C. 20549</B></P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>FORM S-8</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>REGISTRATION
      STATEMENT</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Under</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>THE SECURITIES
      ACT OF 1933</P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>REGAL-BELOIT
      CORPORATION</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>(Exact name of
      registrant as specified in its charter)</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Wisconsin</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(State or other jurisdiction of incorporation or
      organization)</FONT></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>39-0875718</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(I.R.S. Employer Identification No.)</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>200 State
      Street</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Beloit,
      Wisconsin</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(Address of principal executive offices)</FONT></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>53511</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT size=2>(Zip
      Code)</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>REGAL-BELOIT
      CORPORATION 2003 Equity Incentive Plan</P>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(Full title of the plan)</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Kenneth F.
      Kaplan</P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Vice President,
      Chief Financial Officer and Secretary</P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>REGAL-BELOIT
      CORPORATION</P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>200 State
      Street</P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>Beloit, Wisconsin
      53511</P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center>(608)
    364-8800</P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=369 colSpan=4>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      style="FONT-SIZE: 8pt" size=1>(Name, address and telephone number,
      including area code of agent for service)</FONT></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
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      <H1 class=western>CALCULATION OF REGISTRATION FEE</H1></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>Title of Securities to be Registered</FONT></P></TD>
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      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>Amount to be Registered</FONT></P></TD>
    <TD width=122 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>Proposed Maximum Offering Price Per Share</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>Proposed Maximum Aggregate Offering Price</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>Amount of Registration Fee</FONT></P></TD></TR>
227:
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      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT size=2>Common Stock, par
      value $.01</FONT></P></TD>
    <TD width=106>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>1,500,000</FONT></P></TD>
    <TD width=122 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>$20.43 (1)</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>$30,645,000 (1)</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>$2,479.18</FONT></P></TD></TR>
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    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=106>
      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT
    size=2>shares</FONT></P></TD>
    <TD width=122 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT size=2>Common Stock
      Purchase Rights</FONT></P></TD>
    <TD width=106>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>1,500,000 rights</FONT></P></TD>
    <TD width=122 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(2)</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(2)</FONT></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc" align=center><FONT
      size=2>(2)</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT size=2>(1) Estimated
      pursuant to Rule 457(</FONT>c<FONT size=2>) under the Securities Act of
      1933 solely for the purpose of calculating the registration fee based on
      the average of the high and low prices for REGAL-BELOIT CORPORATION Common
      Stock as reported on the American Stock Exchange on October 24,
      2003.</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
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    <TD vAlign=bottom width=624 colSpan=6>
      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT size=2>(2) The value
      attributable to the Common Stock Purchase Rights is reflected in the
      market price of the Common Stock to which the Rights are
      attached.</FONT></P></TD></TR>
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      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114 colSpan=2>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD>
    <TD width=114>
      <P class=western style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
  <TR>
    <TD vAlign=bottom width=624 colSpan=6>
      <P class=western style="MARGIN-BOTTOM: 0pc"><FONT size=2>(3) This
      Registration Statement shall cover any additional shares of the Common
      Stock of the Registrant which become issuable under Registrant's 2003
      Equity Incentive Plan set forth herein by reason of any stock dividend,
      stock split, or any other similar transactions without receipt or
      consideration which results in an increase in the number of shares of the
      Registrant's outstanding Common Stock.</FONT></P></TD></TR></TABLE>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc" align=center><B>PART I</B></P>
<P class=western style="MARGIN-BOTTOM: 0pc" align=center><B>INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS</B></P>
<P class=western style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><B></B>The document or documents
containing the information specified in Part I are not required to be filed with
the Securities and Exchange Commission (the "Commission") as part of this Form
S-8 Registration Statement.</P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<H1 class=western>PART II</H1>
<H1 class=western>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</H1>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><B>Item 3. <U>Incorporation of
Documents by Reference</U>.</B></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc">The following documents filed by
REGAL-BELOIT CORPORATION (the "Registrant") with the Commission are hereby
incorporated herein by reference:</P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc">1. The Registrant's Annual Report on
Form 10-K for the year ended December 31, 2002, which includes certified
financial statements as of and for the year ended December 31, 2002.</P>
<OL style="MARGIN-LEFT: 1.18pc">
  <P class=western style="MARGIN-BOTTOM: 0pc"></P>
  <OL style="MARGIN-LEFT: 1.18pc">
    <OL style="MARGIN-LEFT: 1.18pc">
      <OL style="MARGIN-LEFT: 1.18pc">
        <OL style="MARGIN-LEFT: 1.18pc">
          <P class=western style="MARGIN-BOTTOM: 0pc">2. The Registrant's Proxy
          Statement filed on Form Def 14A dated March 11, 2003.</P></OL></OL></OL></OL>
  <P class=western style="MARGIN-BOTTOM: 0pc"></P>
  <OL style="MARGIN-LEFT: 1.18pc">
    <OL style="MARGIN-LEFT: 1.18pc">
      <OL style="MARGIN-LEFT: 1.18pc">
        <OL style="MARGIN-LEFT: 1.18pc">
          <P style="MARGIN-BOTTOM: 0pc">3. The Registrant's Quarterly Reports on
          Form 10-Q filed for the quarter </P></OL></OL></OL></OL>
  <P style="MARGIN-BOTTOM: 0pc">ended March 31, 2003 and on Form 10-Q filed for
  quarter ended June 30, 2003.</P></OL>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">4. The Registrant's Current Reports on Form 8-K
filed on April 21, 2003, July 21, 2003, and October 22, 2003.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">5. The description of the Registrant's Common
Stock contained in Item I of the Registrant's Registration Statement on Form
8-B, dated June 10, 1994, including any amendment or report filed for the
purpose of updating such description.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">6. The description of the Registrant's Common
Stock Purchase Rights contained in Item 1 of the Registrant's Registration
Statement on Form 8-A, dated January 31, 2000, and any amendment of report filed
for the purpose of updating such description.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">All documents subsequently filed by the Registrant
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the
date of filing of this Registration Statement and prior to such time as the
Registrant files 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 date
of filing of such documents.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">To the extent any information contained in a
document filed after the effective date of this Registration Statement is
different from information contained in a document filed or previously
incorporated by reference in this Registration Statement, you should rely on the
most recent information which will constitute a part of this Registration
Statement.</P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B>Item 4. <U>Description of
Securities</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Not applicable.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B>Item 5. <U>Interests of Named Experts and
Counsel</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B></B>Not applicable.</P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B>Item 6. <U>Indemnification of Directors and
Officers</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Pursuant to the Wisconsin Business Corporation Law
and the Registrant's By-laws, directors and officers of the Registrant are
entitled to mandatory indemnification from the Registrant against certain
liabilities and expenses (i) to the extent such officers or directors are
successful in the defense of a proceeding and (ii) in proceedings in which the
director of officer is not successful in defense thereof, unless it is
determined that the director or officer breached or failed to perform his duties
to the Registrant and such breach or failure constituted: (a) a willful failure
to deal fairly with the Registrant or its shareholders in connection with a
matter in which the director or officer had a material conflict of interest; (b)
a violation of the criminal law unless the director or officer had reasonable
cause to believe his or her conduct was lawful or had no reasonable cause to
believe his or her conduct was unlawful; (c) a transaction from which the
director or officer derived an improper personal profit; or (d) willful
misconduct. It should be noted that the Wisconsin Business Corporation Law
specifically states that it is the public policy of Wisconsin to require or
permit indemnification in connection with a proceeding involving securities
regulation, as described therein, to the extent required or permitted as
described above. Additionally, under the Wisconsin Business Corporation Law,
directors of the Registrant are not subject to personal liability to the
Registrant, its shareholders or any person asserting rights on behalf thereof
for certain breaches or failures to perform any duty resulting solely from their
status as directors except in circumstances paralleling those in subparagraphs
(a) through (d) outlined above.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Expenses for the defense of any action for which
indemnification may be available may be advanced by the Registrant under certain
circumstances.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">The indemnification provided by the Wisconsin
Business Corporation Law and the Registrant's By-laws is not exclusive of any
other rights to which a director or officer may be entitled.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">The Registrant maintains a liability insurance
policy for its directors and officers as permitted by Wisconsin law which may
extend to, among other things, liability arising under the Securities Act of
1933, as amended.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B>Item 7. <U>Exemption from Registration
Claimed</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B></B>Not applicable.</P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always"><B>Item 8.
<U>Exhibits</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B></B>The following exhibits have been filed
(except where otherwise indicated) as part of this Registration Statement.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<DL>
  <DL>
    <DL>
      <DD>
      <TABLE cellSpacing=0 cellPadding=7 width=488 border=0>

        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center><U>Exhibit No.</U></P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc" align=center><U>Exhibit</U></P>
            <P style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(4.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Articles of Incorporation of the
            Company (incorporated by reference to Exhibit B to the Company's
            proxy statement on Form Def 14A filed on March 11, 1994)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(4.2)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Rights Agreement, dated as of January
            28, 2000, between REGAL-BELOIT CORPORATION and BankBoston N.A.
            (incorporated by reference to Exhibit 4.1 to REGAL-BELOIT
            CORPORATION's Registration Statement on Form 8-A, filed January 31,
            2000)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(5)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Opinion of Counsel</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(23.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Consent of Deloitte &amp; Touche
            LLP</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(24.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Power of Attorney (included on the
            signature page to this Registration Statement)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(99)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">2003 Equity Incentive Plan
            (incorporated by reference to Exhibit B to Registrant's proxy
            statement on Form Def 14A filed on March 13,
      2003).</P></TD></TR></TABLE></DD></DL></DL></DL>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><B>Item 9. <U>Undertakings</U>.</B></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">(a) The undersigned Registrant hereby
undertakes:</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc; MARGIN-LEFT: 4pc; TEXT-INDENT: -4pc">(1) 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 the
Registration Statement or any material change to such information in the
Registration Statement.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc; MARGIN-LEFT: 4pc; TEXT-INDENT: -4pc">(2) That, for
the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc; MARGIN-LEFT: 4pc; TEXT-INDENT: -4pc">(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.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">(b) The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act of
1933, each filing of the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section
15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration
statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">(c) Insofar as indemnification for liabilities
arising under the Securities Act of 1933 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 </P>
<P style="MARGIN-BOTTOM: 0pc">Securities and Exchange Commission such
indemnification is against public policy as expressed in the 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 Act and will be governed by the final adjudication of
such issue.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><B>SIGNATURES</B></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><U>The Registrant</U>. 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 Beloit, and
State of Wisconsin, on this 29<SUP>th</SUP> day of October 2003.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">REGAL-BELOIT CORPORATION</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">By: <U>/s/ Kenneth F. Kaplan </U></P>
<P style="MARGIN-BOTTOM: 0pc">Kenneth F. Kaplan</P>
<P style="MARGIN-BOTTOM: 0pc">Vice President, Chief Financial Officer </P>
<P style="MARGIN-BOTTOM: 0pc">and Secretary</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><B>POWER OF ATTORNEY</B></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Pursuant to the requirements of the Securities Act
of 1933, this Registration Statement has been signed below by the following
persons in the capacities and on the date indicated. Each person whose signature
appears below constitutes and appoints James L. Packard and Kenneth F. Kaplan,
and each of them individually, his or her true and lawful attorneys-in-fact and
agents, with full power of substitution and revocation, for him or her and in
his or her name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement
and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in connection therewith, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or either of them, may lawfully do or cause to be
done by virtue hereof.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<TABLE cellSpacing=0 cellPadding=7 width=663 border=0>

  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc" align=center><U>Signature</U></P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc" align=center><U>Title</U></P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center><U>Date</U></P></TD></TR>
  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>s/ James L. Packard</U></P>
      <P style="MARGIN-BOTTOM: 0pc">James L. Packard</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">Chairman of the Board, Chief Executive
      Officer and Director</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24, 2003</P></TD></TR>
  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>/s/ Henry W. Knueppel</U></P>
      <P style="MARGIN-BOTTOM: 0pc">Henry W. Knueppel</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">President, Chief Operating Officer and
      Director</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24, 2003</P></TD></TR>
  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>/s/ Kenneth F. Kaplan</U></P>
      <P style="MARGIN-BOTTOM: 0pc">Kenneth F. Kaplan</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">Vice President, Chief Financial Officer and
      Secretary</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24, 2003</P></TD></TR>
  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>/s/ Frank Bauchiero</U></P>
      <P style="MARGIN-BOTTOM: 0pc">Frank Bauchiero</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">Director</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24,
  2003</P></TD></TR></TABLE>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always" align=center><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<TABLE cellSpacing=0 cellPadding=7 width=663 border=0>
673:

  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>/s/ J. Reed Coleman</U></P>
      <P style="MARGIN-BOTTOM: 0pc">J. Reed Coleman</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">Director</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24, 2003</P></TD></TR>
  <TR vAlign=bottom>
    <TD width=199>
      <P style="MARGIN-BOTTOM: 0pc"><BR></P>
      <P style="MARGIN-BOTTOM: 0pc"><U>/s/ Stephen N. Graff</U></P>
      <P style="MARGIN-BOTTOM: 0pc">Stephen N. Graff</P></TD>
    <TD width=276>
      <P style="MARGIN-BOTTOM: 0pc">Director</P></TD>
    <TD width=146>
      <P style="MARGIN-BOTTOM: 0pc" align=center>October 24,
  2003</P></TD></TR></TABLE>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<DL>
  <DL>
    <DL>
      <DD>
      <TABLE cellSpacing=0 cellPadding=7 width=488 border=0>

        <TR>
          <TD vAlign=top width=474 colSpan=2>
            <P style="MARGIN-BOTTOM: 0pc" align=center><B>EXHIBIT INDEX</B></P>
            <P style="MARGIN-BOTTOM: 0pc" align=center><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center><U>Exhibit No.</U></P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc" align=center><U>Exhibit</U></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(4.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Articles of Incorporation of the
            Company (incorporated by reference to Exhibit B to the Company's
            proxy statement on Form Def 14A filed on March 11, 1994)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(4.2)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Rights Agreement dated as of January
            28, 2000, between REGAL-BELOIT CORPORATION and BankBoston N.A.
            (incorporated by reference to Exhibit 4.1 to REGAL-BELOIT
            CORPORATION's Registration Statement on Form 8-A, filed January 31,
            2000)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(5)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Opinion of Counsel</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(23.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Consent of Deloitte &amp; Touche
            LLP</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(24.1)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">Power of Attorney (included on the
            signature page to this Registration Statement)</P>
            <P style="MARGIN-BOTTOM: 0pc"><BR></P></TD></TR>
        <TR vAlign=top>
          <TD width=146>
            <P style="MARGIN-BOTTOM: 0pc" align=center>(99)</P></TD>
          <TD width=314>
            <P style="MARGIN-BOTTOM: 0pc">2003 Equity Incentive Plan
            (incorporated by reference to Exhibit B to Registrant's proxy
            statement on Form Def 14A filed on March 13,
      2003).</P></TD></TR></TABLE></DD></DL></DL></DL>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc; PAGE-BREAK-BEFORE: always"><BR></P>
<P style="MARGIN-BOTTOM: 0pc" align=right>Exhibit 5</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">October 29, 2003</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">REGAL-BELOIT CORPORATION</P>
<P style="MARGIN-BOTTOM: 0pc">200 State Street</P>
<P style="MARGIN-BOTTOM: 0pc">Beloit, WI 53511</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Ladies and Gentlemen:</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">I am the attorney of REGAL-BELOIT CORPORATION, a
Wisconsin corporation (the "Company"). I have acted as counsel to the Company in
connection with the preparation and filing of a Registration Statement on Form
S-8 (the "Registration Statement") under the Securities Act of 1933, as amended,
(the "Securities Act") for the registration of 1,500,000 shares of common stock,
par value $0.01 per share (the "Shares"), of the Company relating to the
REGAL-BELOIT CORPORATION 2003 Equity Incentive Plan (the "Plan").</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">In connection with the foregoing, I have examined
the Certificate of Incorporation, as amended, and By-Laws of the Company, the
Registration Statement, the Plan, and resolutions duly adopted by the Board of
Directors of the Company relating to the Plan. In addition, I have reviewed such
other documents and instruments and have conferred with various officers and
directors of the Company and have ascertained or verified such additional facts
as deemed necessary or appropriate for the purposes of this opinion. </P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Based upon the foregoing, I am of the opinion
that: 1) The Company is a Corporation validly existing under the corporate laws
of the State of Wisconsin. 2) The Shares to be issued under the Plan have been
duly authorized and, when issued and delivered in accordance with the terms of
the Plan, will be validly issued, fully paid and nonassessable, subject to
Section 180.0622(2)(b) of the Wisconsin Business Corporation Law, or any
successor provision (the "Wisconsin Statutes"). Section 180.0622(2)(b) of the
Wisconsin Statues provides that shareholders of a corporation may be assessed up
to the par value of their shares to satisfy the obligation of such corporation
to its employees for services performed, but not exceeding six months service in
the case of any one individual employee, and as such may be interpreted by a
court of law.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">I hereby consent to the filing of this opinion as
an exhibit to the Registration Statement. In giving this consent, I do not admit
that I am an "expert" within the meaning of Section 11 of the Act or within the
category of persons whose consent is required under Section 7 of the Securities
Act or the rules and regulations of the Securities and Exchange Commission
thereunder.</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc">Very truly yours,</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><U>/S/ Charldene S. Schneier </U></P>
<P style="MARGIN-BOTTOM: 0pc">Charldene S. Schneier</P>
<P style="MARGIN-BOTTOM: 0pc">Attorney</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc; widows: 0; orphans: 0"
align=right><FONT size=2></FONT>EXHIBIT 23.1</P>
<P class=western style="MARGIN-BOTTOM: 0pc; widows: 0; orphans: 0"
align=right><BR></P>
<H1 class=western style="widows: 0; orphans: 0"><BR></H1>
<H1 class=western align=left><BR></H1>
<H1 class=western align=left><FONT face="Arial, sans-serif"><FONT
style="FONT-SIZE: 11pt" size=2>INDEPENDENT AUDITORS' CONSENT</FONT></FONT></H1>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc">We consent to the incorporation by
reference in this Registration Statement on Form S-8 of REGAL-BELOIT Corporation
of our report dated January 29, 2003, relating to the consolidated financial
statements of REGAL-BELOIT Corporation as of and for the year ended December 31,
2002 (which report expresses an unqualified opinion and includes explanatory
paragraphs relating to the adoption of Statement of Financial Accounting
Standards No. 142, "Goodwill and Other Intangible Assets," and the application
of procedures relating to certain disclosures of financial statement amounts
related to the 2001 and 2000 financial statements that were audited by other
auditors who have ceased operations and for which we have expressed no opinion
or other form of assurance other than with respect to such disclosures)
appearing in the Form10-K of REGAL-BELOIT Corporation for the year ended
December 31, 2002.</P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc"><BR></P>
<P class=western style="MARGIN-BOTTOM: 0pc">/s/ Deloitte &amp; Touche LLP</P>
<P class=western style="MARGIN-BOTTOM: 0pc">Milwaukee, Wisconsin</P>
<P class=western style="MARGIN-BOTTOM: 0pc">October 27, 2003</P>
<P style="MARGIN-BOTTOM: 0pc"><BR></P></BODY></HTML>
[{"type": "S-8", "sequence": "1", "filename": "s8equi.htm", "secsgml_size_bytes": 41351}]
{"company-data": {"conformed-name": "REGAL BELOIT CORP", "cik": "0000082811", "assigned-sic": "3621", "irs-number": "390875718", "state-of-incorporation": "WI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-110061", "film-number": "03963647"}, "business-address": {"street1": "200 STATE ST", "city": "BELOIT", "state": "WI", "zip": "53511", "phone": "6083648800"}, "mail-address": {"street1": "200 STATE STREET", "city": "BELOIT", "state": "WI", "zip": "53511-6254"}, "former-company": [{"former-conformed-name": "BELOIT TOOL CORP", "date-changed": "19730522"}, {"former-conformed-name": "RECORD A PUNCH CORP", "date-changed": "19690320"}]}
SECURITIES AND EXCHANGE COMMISSION
39:

  
227:
SECURITIES AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM S-8
REGISTRATION
      STATEMENT
Under
THE SECURITIES
      ACT OF 1933
REGAL-BELOIT
      CORPORATION
(Exact name of
      registrant as specified in its charter)
Wisconsin
(State or other jurisdiction of incorporation or
      organization)
39-0875718
(I.R.S. Employer Identification No.)
200 State
      Street
Beloit,
      Wisconsin
(Address of principal executive offices)
53511
(Zip
      Code)
REGAL-BELOIT
      CORPORATION 2003 Equity Incentive Plan
(Full title of the plan)
Kenneth F.
      Kaplan
Vice President,
      Chief Financial Officer and Secretary
REGAL-BELOIT
      CORPORATION
200 State
      Street
Beloit, Wisconsin
      53511
(608)
    364-8800
(Name, address and telephone number,
      including area code of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered
Proposed Maximum Offering Price Per Share
Proposed Maximum Aggregate Offering Price
Amount of Registration Fee
Common Stock, par
      value $.01
1,500,000
$20.43 (1)
$30,645,000 (1)
$2,479.18
shares
Common Stock
      Purchase Rights
1,500,000 rights
(2)
(2)
(2)
(1) Estimated
      pursuant to Rule 457(
c
) under the Securities Act of
      1933 solely for the purpose of calculating the registration fee based on
      the average of the high and low prices for REGAL-BELOIT CORPORATION Common
      Stock as reported on the American Stock Exchange on October 24,
      2003.
(2) The value
      attributable to the Common Stock Purchase Rights is reflected in the
      market price of the Common Stock to which the Rights are
      attached.
(3) This
      Registration Statement shall cover any additional shares of the Common
      Stock of the Registrant which become issuable under Registrant's 2003
      Equity Incentive Plan set forth herein by reason of any stock dividend,
      stock split, or any other similar transactions without receipt or
      consideration which results in an increase in the number of shares of the
      Registrant's outstanding Common Stock.
PART I
INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS
The document or documents
containing the information specified in Part I are not required to be filed with
the Securities and Exchange Commission (the "Commission") as part of this Form
S-8 Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of
Documents by Reference
.
The following documents filed by
REGAL-BELOIT CORPORATION (the "Registrant") with the Commission are hereby
incorporated herein by reference:
1. The Registrant's Annual Report on
Form 10-K for the year ended December 31, 2002, which includes certified
financial statements as of and for the year ended December 31, 2002.
2. The Registrant's Proxy
          Statement filed on Form Def 14A dated March 11, 2003.
3. The Registrant's Quarterly Reports on
          Form 10-Q filed for the quarter
ended March 31, 2003 and on Form 10-Q filed for
  quarter ended June 30, 2003.
4. The Registrant's Current Reports on Form 8-K
filed on April 21, 2003, July 21, 2003, and October 22, 2003.
5. The description of the Registrant's Common
Stock contained in Item I of the Registrant's Registration Statement on Form
8-B, dated June 10, 1994, including any amendment or report filed for the
purpose of updating such description.
6. The description of the Registrant's Common
Stock Purchase Rights contained in Item 1 of the Registrant's Registration
Statement on Form 8-A, dated January 31, 2000, and any amendment of report filed
for the purpose of updating such description.
All documents subsequently filed by the Registrant
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the
date of filing of this Registration Statement and prior to such time as the
Registrant files 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 date
of filing of such documents.
To the extent any information contained in a
document filed after the effective date of this Registration Statement is
different from information contained in a document filed or previously
incorporated by reference in this Registration Statement, you should rely on the
most recent information which will 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
.
Pursuant to the Wisconsin Business Corporation Law
and the Registrant's By-laws, directors and officers of the Registrant are
entitled to mandatory indemnification from the Registrant against certain
liabilities and expenses (i) to the extent such officers or directors are
successful in the defense of a proceeding and (ii) in proceedings in which the
director of officer is not successful in defense thereof, unless it is
determined that the director or officer breached or failed to perform his duties
to the Registrant and such breach or failure constituted: (a) a willful failure
to deal fairly with the Registrant or its shareholders in connection with a
matter in which the director or officer had a material conflict of interest; (b)
a violation of the criminal law unless the director or officer had reasonable
cause to believe his or her conduct was lawful or had no reasonable cause to
believe his or her conduct was unlawful; (c) a transaction from which the
director or officer derived an improper personal profit; or (d) willful
misconduct. It should be noted that the Wisconsin Business Corporation Law
specifically states that it is the public policy of Wisconsin to require or
permit indemnification in connection with a proceeding involving securities
regulation, as described therein, to the extent required or permitted as
described above. Additionally, under the Wisconsin Business Corporation Law,
directors of the Registrant are not subject to personal liability to the
Registrant, its shareholders or any person asserting rights on behalf thereof
for certain breaches or failures to perform any duty resulting solely from their
status as directors except in circumstances paralleling those in subparagraphs
(a) through (d) outlined above.
Expenses for the defense of any action for which
indemnification may be available may be advanced by the Registrant under certain
circumstances.
The indemnification provided by the Wisconsin
Business Corporation Law and the Registrant's By-laws is not exclusive of any
other rights to which a director or officer may be entitled.
The Registrant maintains a liability insurance
policy for its directors and officers as permitted by Wisconsin law which may
extend to, among other things, liability arising under the Securities Act of
1933, as amended.
Item 7.
Exemption from Registration
Claimed
.
Not applicable.
Item 8.
Exhibits
.
The following exhibits have been filed
(except where otherwise indicated) as part of this Registration Statement.
Exhibit No.
Exhibit
(4.1)
Articles of Incorporation of the
            Company (incorporated by reference to Exhibit B to the Company's
            proxy statement on Form Def 14A filed on March 11, 1994)
(4.2)
Rights Agreement, dated as of January
            28, 2000, between REGAL-BELOIT CORPORATION and BankBoston N.A.
            (incorporated by reference to Exhibit 4.1 to REGAL-BELOIT
            CORPORATION's Registration Statement on Form 8-A, filed January 31,
            2000)
(5)
Opinion of Counsel
(23.1)
Consent of Deloitte & Touche
            LLP
(24.1)
Power of Attorney (included on the
            signature page to this Registration Statement)
(99)
2003 Equity Incentive Plan
            (incorporated by reference to Exhibit B to Registrant's proxy
            statement on Form Def 14A filed on March 13,
      2003).
Item 9.
Undertakings
.
(a) 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 to include any material information
with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the
Registration Statement.
(2) That, for
the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered herein, 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.
(b) The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act of
1933, each filing of the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section
15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration
statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(c) Insofar as indemnification for liabilities
arising under the Securities Act of 1933 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 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 Act and will be governed by the final adjudication of
such issue.
SIGNATURES
The Registrant
. 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 Beloit, and
State of Wisconsin, on this 29
th
day of October 2003.
REGAL-BELOIT CORPORATION
By:
/s/ Kenneth F. Kaplan
Kenneth F. Kaplan
Vice President, Chief Financial Officer
and Secretary
POWER OF ATTORNEY
Pursuant to the requirements of the Securities Act
of 1933, this Registration Statement has been signed below by the following
persons in the capacities and on the date indicated. Each person whose signature
appears below constitutes and appoints James L. Packard and Kenneth F. Kaplan,
and each of them individually, his or her true and lawful attorneys-in-fact and
agents, with full power of substitution and revocation, for him or her and in
his or her name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement
and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in connection therewith, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or either of them, may lawfully do or cause to be
done by virtue hereof.
Signature
Title
Date
s/ James L. Packard
James L. Packard
Chairman of the Board, Chief Executive
      Officer and Director
October 24, 2003
/s/ Henry W. Knueppel
Henry W. Knueppel
President, Chief Operating Officer and
      Director
October 24, 2003
/s/ Kenneth F. Kaplan
Kenneth F. Kaplan
Vice President, Chief Financial Officer and
      Secretary
October 24, 2003
/s/ Frank Bauchiero
Frank Bauchiero
Director
October 24,
  2003
673:
/s/ J. Reed Coleman
J. Reed Coleman
Director
October 24, 2003
/s/ Stephen N. Graff
Stephen N. Graff
Director
October 24,
  2003
EXHIBIT INDEX
Exhibit No.
Exhibit
(4.1)
Articles of Incorporation of the
            Company (incorporated by reference to Exhibit B to the Company's
            proxy statement on Form Def 14A filed on March 11, 1994)
(4.2)
Rights Agreement dated as of January
            28, 2000, between REGAL-BELOIT CORPORATION and BankBoston N.A.
            (incorporated by reference to Exhibit 4.1 to REGAL-BELOIT
            CORPORATION's Registration Statement on Form 8-A, filed January 31,
            2000)
(5)
Opinion of Counsel
(23.1)
Consent of Deloitte & Touche
            LLP
(24.1)
Power of Attorney (included on the
            signature page to this Registration Statement)
(99)
2003 Equity Incentive Plan
            (incorporated by reference to Exhibit B to Registrant's proxy
            statement on Form Def 14A filed on March 13,
      2003).
Exhibit 5
October 29, 2003
REGAL-BELOIT CORPORATION
200 State Street
Beloit, WI 53511
Ladies and Gentlemen:
I am the attorney of REGAL-BELOIT CORPORATION, a
Wisconsin corporation (the "Company"). I have acted as counsel to the Company in
connection with the preparation and filing of a Registration Statement on Form
S-8 (the "Registration Statement") under the Securities Act of 1933, as amended,
(the "Securities Act") for the registration of 1,500,000 shares of common stock,
par value $0.01 per share (the "Shares"), of the Company relating to the
REGAL-BELOIT CORPORATION 2003 Equity Incentive Plan (the "Plan").
In connection with the foregoing, I have examined
the Certificate of Incorporation, as amended, and By-Laws of the Company, the
Registration Statement, the Plan, and resolutions duly adopted by the Board of
Directors of the Company relating to the Plan. In addition, I have reviewed such
other documents and instruments and have conferred with various officers and
directors of the Company and have ascertained or verified such additional facts
as deemed necessary or appropriate for the purposes of this opinion.
Based upon the foregoing, I am of the opinion
that: 1) The Company is a Corporation validly existing under the corporate laws
of the State of Wisconsin. 2) The Shares to be issued under the Plan have been
duly authorized and, when issued and delivered in accordance with the terms of
the Plan, will be validly issued, fully paid and nonassessable, subject to
Section 180.0622(2)(b) of the Wisconsin Business Corporation Law, or any
successor provision (the "Wisconsin Statutes"). Section 180.0622(2)(b) of the
Wisconsin Statues provides that shareholders of a corporation may be assessed up
to the par value of their shares to satisfy the obligation of such corporation
to its employees for services performed, but not exceeding six months service in
the case of any one individual employee, and as such may be interpreted by a
court of law.
I hereby consent to the filing of this opinion as
an exhibit to the Registration Statement. In giving this consent, I do not admit
that I am an "expert" within the meaning of Section 11 of the Act or within the
category of persons whose consent is required under Section 7 of the Securities
Act or the rules and regulations of the Securities and Exchange Commission
thereunder.
Very truly yours,
/S/ Charldene S. Schneier
Charldene S. Schneier
Attorney
EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by
reference in this Registration Statement on Form S-8 of REGAL-BELOIT Corporation
of our report dated January 29, 2003, relating to the consolidated financial
statements of REGAL-BELOIT Corporation as of and for the year ended December 31,
2002 (which report expresses an unqualified opinion and includes explanatory
paragraphs relating to the adoption of Statement of Financial Accounting
Standards No. 142, "Goodwill and Other Intangible Assets," and the application
of procedures relating to certain disclosures of financial statement amounts
related to the 2001 and 2000 financial statements that were audited by other
auditors who have ceased operations and for which we have expressed no opinion
or other form of assurance other than with respect to such disclosures)
appearing in the Form10-K of REGAL-BELOIT Corporation for the year ended
December 31, 2002.
/s/ Deloitte & Touche LLP
Milwaukee, Wisconsin
October 27, 2003