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<title>As filed with the Securities and Exchange Commission on August __, 2004</title>
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<p align="center"><font size="2" face="Times New Roman">As filed with the Securities and Exchange Commission on August 31, 2004</font></p>

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<p align="right"><b><font size="2" face="Times New Roman">Registration No. 333-_____&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>
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<p align="center"><b><font size="4" face="Times New Roman">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center"><font size="2" face="Times New Roman">Washington, DC 20549</font></p>

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<p align="center"><b><font size="4" face="Times New Roman">FORM S-8</font></b></p>

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<p align="center"><b><font size="2" face="Times New Roman">REGISTRATION STATEMENT UNDER</font></b></p>

<p align="center"><b><font size="2" face="Times New Roman">THE SECURITIES ACT OF 1933</font></b></p>

<p align="center"><font size="2" face="Times New Roman"></font></p>

<p align="center"><b><font size="4" face="Times New Roman">Sequa Corporation</font></b></p>

<p align="center"><font size="1" face="Times New Roman">(Exact name of registrant as specified in its charter)</font></p>

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<p align="center"><b><font size="2" face="Times New Roman">Delaware</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">13-1885030</font></b></p>
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<p align="center"><font size="1" face="Times New Roman">(State or other jurisdiction</font></p>
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<p align="center"><font size="1" face="Times New Roman">(IRS. Employer</font></p>
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<p align="center"><font size="1" face="Times New Roman">of incorporation or organization)</font></p>
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<p align="center"><font size="1" face="Times New Roman">Identification No.)</font></p>
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<p align="center"><b><font size="2" face="Times New Roman">200 Park Avenue</font></b></p>

<p align="center"><b><font size="2" face="Times New Roman">New York, New York&nbsp; 10166</font></b></p>

<p align="center"><font size="1" face="Times New Roman">(Address of Principal Executive Offices and Zip Code)</font></p>

<p align="center"><font size="2" face="Times New Roman">________________</font></p>

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<p align="center"><b><font size="2" face="Times New Roman">2003 Directors Stock Award Plan</font></b></p>
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<p align="center"><font size="1" face="Times New Roman">(Full title of the Plan)</font></p>
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<p align="center"><font size="2" face="Times New Roman">________________</font></p>
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<p align="center"><b><font size="2" face="Times New Roman">Norman E. Alexander</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">Chairman of the Board and Chief Executive Officer</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">Sequa Corporation</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">200 Park Avenue</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">New York, New York&nbsp; 10166</font></b></p>
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<p align="center"><font size="1" face="Times New Roman">(Name and address of agent for service)</font></p>
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<p align="center"><b><font size="2" face="Times New Roman">(212) 986-5500</font></b></p>
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<p align="center"><font size="1" face="Times New Roman">(Telephone number, including area code, of agent for service)</font></p>
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<p align="center"><font size="2" face="Times New Roman">________________</font></p>

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<p align="center"><b><font size="2" face="Times New Roman">Copy to:</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">W. Leslie Duffy, Esq.</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">Cahill Gordon &amp; Reindel LLP</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">80 Pine Street</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">New York, New York 10005</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">(212) 701-3000</font></b></p>
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<p align="center"><font size="2" face="Times New Roman">________________</font></p>

<p><b><font size="1" face="CG Times (W1)">CALCULATION OF REGISTRATION FEE</font></b></p>

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<p align="center"><b><font size="1" face="Times New Roman">Title&nbsp; of Each Class of Securities to be Registered</font></b></p>
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<p align="center"><b><font size="1" face="Times New Roman">Amount to be</font></b></p>

<p align="center"><b><font size="1" face="Times New Roman">Registered (1)(2)</font></b></p>
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<p align="center"><b><font size="1" face="Times New Roman">Proposed Maximum Offering Price Per&nbsp; Unit (2)</font></b></p>
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<p align="center"><b><font size="1" face="Times New Roman">Proposed Maximum Aggregate Offering Price (3)</font></b></p>
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<p align="center"><b><font size="1" face="Times New Roman">Amount of<br />
 Registration Fee (2)</font></b></p>
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<p align="center"><font size="1" face="Times New Roman">Class A<br />
 Common Stock,<br />
 no par value</font></p>
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<p align="center"><font size="1" face="Times New Roman"><br />
<br />
 50,000 shares</font></p>
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<p align="center"><font size="1" face="Times New Roman"><br />
<br />
 $51.48</font></p>
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<p align="center"><font size="1" face="Times New Roman"><br />
<br />
 $2,574,000</font></p>
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<br />
 $326.13</font></p>
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<p><font size="1" face="CG Times (W1)">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are also registered hereunder such indeterminate number of additional shares as may become subject to awards under the Plan as a result of the antidilution provision contained
therein.</font></p>

<p><font size="1" face="CG Times (W1)">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, pursuant to Rule 416(c) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the employee benefit plan described herein.</font></p>

<p><font size="1" face="CG Times (W1)">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Estimated solely for purposes of calculating the registration fee.&nbsp; Pursuant to Rules 457(c) and 457(h) under the Securities Act, the registration fee has been calculated based on the
average of the high and low sale prices reported for the Class A Common Stock of Sequa Corporation on August __, 2004, which was $__&nbsp; per share, as reported on the New York Stock Exchange.</font></p>

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<p><b><font size="2" face="CG Times (W1)">EXPLANTORY NOTE</font></b></p>

<p><font size="2" face="CG Times (W1)">Information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with the Note to Part I of Form S-8.</font></p>
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<p><b><font size="2" face="CG Times (W1)">PART II</font></b></p>

<p><b><font size="2" face="CG Times (W1)">INFORMATION REQUIRED</font></b></p>

<p><b><font size="2" face="CG Times (W1)">IN THE REGISTRATION STATEMENT</font></b></p>

<p><b><font size="2" face="Times New Roman">ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</font></b></p>

<p><font size="2" face="CG Times (W1)">The following documents, which are on file with the Commission, are incorporated in this Registration Statement by reference and made a part hereof:</font></p>

<p><font size="2" face="CG Times (W1)">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sequa Corporation&rsquo;s (the &ldquo;Registrant&rdquo;) Annual Report on Form 10-K (File No.&nbsp;1-804) for the year ended December 31, 2003 (the "2003
Form 10-K") and Amendment No. 1 to Annual Report on Form 10-K (File No. 1-804) for the year ended December 31, 2003 dated March 26, 2004 (the &ldquo;2003 Form 10-K/A&rdquo;).</font></p>

<p><font size="2" face="CG Times (W1)">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registrant&rsquo;s Quarterly Reports on Form 10-Q (File No. 1-804) for the quarterly periods ended March 31, 2004 (&ldquo;1st Q Form 10-Q&rdquo;) and
June 30, 2004 (&ldquo;2nd Q Form 10-Q&rdquo;), respectively.</font></p>

<p><font size="2" face="CG Times (W1)">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registrant&rsquo;s Current Report on Form 8-K (File No. 1-804) filed April 16, 2004.</font></p>

<p><font size="2" face="CG Times (W1)">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registrant's Proxy Statement on Schedule 14A (File No. 1-804) filed March 30, 2004.</font></p>

<p><font size="2" face="CG Times (W1)">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The description of Registrant's Class A Common Stock contained in our Form 8-A (File No. 1-804) dated December 3, 1986.</font></p>

<p><font size="2" face="CG Times (W1)">All documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) 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, shall be deemed to be incorporated by reference in this Registration Statement and to be part thereof from the date of
filing of such documents.&nbsp; Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained
herein or in any subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.&nbsp; Any statement modified or superseded shall not be deemed, except as so modified or superseded, to constitute
part of this Registration Statement.</font></p>

<p><b><font size="2" face="Times New Roman">ITEM 4. DESCRIPTION OF SECURITIES.</font></b></p>

<p><font size="2" face="CG Times (W1)">This item is not applicable as Registrant's Class A Common Stock is registered under Section&nbsp;12 of the Exchange Act.</font></p>

<p><b><font size="2" face="Times New Roman">ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</font></b></p>

<p><font size="2" face="CG Times (W1)">This item is not applicable.</font></p>

<p><b><font size="2" face="CG Times (W1)">ITEM 6.&nbsp; INDEMNIFICATION OF DIRECTORS AND OFFICERS.</font></b></p>

<p><font size="2" face="CG Times (W1)">Reference is made to Section 102(b)(7) of the Delaware General Corporation Law (the &rdquo;DGCL&rdquo;), which permits a corporation in its certificate of incorporation or an amendment thereto to eliminate or limit the personal
liability of a director for violations of the director's fiduciary duty, except (i) for any breach of the director's fiduciary duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct
or a knowing violation of law, (iii) pursuant to Section 174 of the DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions), or (iv) for any transaction from which the director derived an improper
personal benefit.&nbsp; The Company's Restated Certificate of Incorporation contains provisions permitted by Section 102(b)(7) of the DGCL.</font></p>

<p><font size="2" face="CG Times (W1)">Reference is made to Section 145 of the DGCL which provides that a corporation may indemnify any persons, including directors and officers, who are, or are threatened to be made, parties to any threatened, pending or completed
legal action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was a director, officer, employee or agent of another corporation,
or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise.&nbsp; The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such action, suit or proceeding, provided such director, officer, employee or agent acted in good faith and in a manner he reasonably believed to be in or not opposed to the corporation's best interests and, with
respect to any criminal actions or proceedings, had no reasonable cause to believe that his conduct was unlawful.&nbsp; A Delaware corporation may indemnify directors and/or officers in an action or suit by or in the right of the corporation under the same
conditions, except that no indemnification is permitted without judicial approval if the director or officer is adjudged to be liable to the corporation.&nbsp; Where a director or officer is successful on the merits or otherwise in the defense of any action referred
to above, the corporation must indemnify him or her against the expenses which such director or officer actually and reasonably incurred.</font></p>

<p><font size="2" face="CG Times (W1)">The Company's Restated Certificate of Incorporation and By-laws provide for the indemnification of directors and officers of the Company to the fullest extent permitted by the DGCL.</font></p>

<p><font size="2" face="CG Times (W1)">The Company provides liability insurance for each director and officer for certain losses arising from claims or charges made against them while acting in their capacities as directors or officers of the Company.</font></p>

<p><b><font size="2" face="Times New Roman">ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.</font></b></p>

<p><font size="2" face="CG Times (W1)">This item is not applicable.</font></p>

<p><b><font size="2" face="CG Times (W1)">ITEM 8.&nbsp; EXHIBITS.</font></b></p>

<p><font size="2" face="CG Times (W1)">The Exhibits to this Registration Statement are listed in the Exhibit Index on Page E-1 of this Registration Statement (the &ldquo;Index&rdquo;), which Index is incorporated herein by reference.</font></p>

<p><font size="2" face="CG Times (W1)">The Registrant will submit the Plan, including any amendments thereto to the Internal Revenue Service (the "IRS") in a timely manner and will make all changes required by the IRS in order to maintain the tax qualified status of
the Plan.</font></p>

<p><b><font size="2" face="Times New Roman">ITEM 9.&nbsp; UNDERTAKINGS.</font></b></p>

<p><font size="2" face="CG Times (W1)">(a) The undersigned Registrant hereby undertakes:</font></p>

<p><font size="2" face="CG Times (W1)">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</font></p>

<p><font size="2" face="CG Times (W1)">(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;</font></p>

<p><font size="2" face="CG Times (W1)">(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.&nbsp; Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;</font></p>

<p><font size="2" face="CG Times (W1)">(iii) 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;</font></p>

<p><font size="2" face="CG Times (W1)">(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p><font size="2" face="CG Times (W1)">(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.</font></p>

<p><font size="2" face="CG Times (W1)">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the 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.</font></p>

<p><font size="2" face="CG Times (W1)">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the 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.&nbsp;
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></p>
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<p><b><font size="2" face="CG Times (W1)">SIGNATURES</font></b></p>

<p><font size="2" face="CG Times (W1)">Pursuant to the requirements of the Securities Act of 1933, Sequa Corporation, 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, thereunder duly authorized, in the City of New York, State of New York on the 26th day of August, 2004.</font></p>

<p><font size="2" face="Times New Roman">SEQUA CORPORATION</font></p>

<p><font size="2" face="Times New Roman">(Registrant)</font></p>

<p><font size="2" face="Times New Roman">By<u>:&nbsp; /s/ Norman E.
Alexander&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br />

 &nbsp; Norman E. Alexander<br />
&nbsp; Chairman of the Board and Chief<br />
&nbsp;&nbsp; Executive Officer</font></p>

<p><font size="2" face="CG Times (W1)">Each person whose signature appears below appoints Norman E. Alexander, Kenneth A. Drucker, Diane&nbsp;C.&nbsp;Bunt, and each of them, any of whom may act without the joinder of the other, as his or her true and lawful
attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement on Form S-8 and
to file the same, with all exhibits thereto and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite
and necessary to be done, 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 their substitute or substitutes may lawfully do or cause to be done by virtue
hereof.</font></p>

<p><font size="2" face="CG Times (W1)">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 dates indicated.</font></p>

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<p><u><font size="2" face="CG Times (W1)">Signature</font></u></p>
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<p><u><font size="2" face="Times New Roman">Title</font></u></p>
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<p><u><font size="2" face="Times New Roman">Date</font></u></p>
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<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">Norman E. Alexander</font></u><u><font 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;</font></u> <font size="2"><br />
 Norman E. Alexander</font></p>
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<p><font size="2" face="Times New Roman">Chairman of the Board and Chief Executive Officer<br />
 (Principal Executive Officer)</font></p>
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<p><font size="2" face="Times New Roman"><br />
 August 26, 2004</font></p>
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<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">John J. Quicke</font></u><u><font 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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u> <font
size="2"><br />
 John J. Quicke</font></p>
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<p><font size="2" face="Times New Roman"><br />
 </font></p>

<p><font size="2" face="Times New Roman">Vice Chairman and Director</font></p>
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<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
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<p><u><font size="2" face="CG Times (W1)">/s/ Martin
Weinstein&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;<br />
</font></u> <font size="2">Martin Weinstein</font></p>
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<p><font size="2" face="Times New Roman"><br />
 </font></p>

<p><font size="2" face="Times New Roman">Vice Chairman and Director</font></p>
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<p><font size="2" face="Times New Roman"><br />
<br />
 August 26, 2004</font></p>
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<p><u><font size="2" face="CG Times (W1)">/s/ Howard M.
Leitner&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;<br />
</font></u> <font size="2">Howard M. Leitner</font></p>
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<p><font size="2" face="Times New Roman"><br />
 </font></p>

<p><font size="2" face="Times New Roman">Senior Vice President, Finance (Principal Financial Officer)</font></p>
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<p><font size="2" face="Times New Roman"><br />
<br />
 August 26, 2004</font></p>
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<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)">/s/ Joanne M. O&rsquo;Sullivan&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;</font></u> <font
size="2"><br />
 Joanne M. O&rsquo;Sullivan</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
 Vice President and Controller<br />
 (Principal Accounting Officer)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 30, 2004</font></p>
</td>
</tr>
</table>

<font size="3" face="Times New Roman"><br clear="all" />
</font>

<table border="1" cellspacing="0" cellpadding="0" width="618">
<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)">/s/ Edward E.
Barr&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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u> <font
size="2"><br />
 Edward E. Barr</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">Alvin Dworman</font></u><u><font 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;&nbsp;&nbsp;</font></u> <font size=
"2"><br />
 Alvin Dworman</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">David S. Gottesman</font></u><u><font 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;</font></u> <font size="2"><br />
 David S. Gottesman</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 30, 2004</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">Richard S. Lefrak</font></u><u><font 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;</font></u> <font size="2"><br />
 Richard S. LeFrak</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)"></font></u></p>

<p><u><font size="2" face="CG Times (W1)">/s/ R. Scott
Schafler&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;&nbsp;</font></u> <font size=
"2"><br />
 <u>R. Scott Schafler</u></font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"></font></p>

<p><font size="2" face="Times New Roman"></font></p>

<p><font size="2" face="Times New Roman">Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"></font></p>

<p><font size="2" face="Times New Roman"></font></p>

<p><font size="2" face="Times New Roman">August 26, 2004</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">Michael I. Sovern</font></u><u><font 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;</font></u> <font size="2"><br />
 Michael I. Sovern</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>

<tr height="63">
<td height="63" valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/</font></u> <u><font size="2" face="Times New Roman">Fred R. Sullivan</font></u><u><font 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;&nbsp;&nbsp;</font></u> <font size=
"2"><br />
 Fred R. Sullivan</font></p>
</td>
<td height="63" valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td height="63" valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>

<tr height="59">
<td height="59" valign="top">
<p><u><font size="2" face="CG Times (W1)">/s/ Gerald Tsai,
Jr.&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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u> <font
size="2"><br />
 Gerald Tsai, Jr.</font></p>
</td>
<td height="59" valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 Director</font></p>
</td>
<td height="59" valign="top">
<p><font size="2" face="Times New Roman"><br />
<br />
 &nbsp;August 26, 2004</font></p>
</td>
</tr>
</table>

<p><font size="2" face="CG Times (W1)"></font></p>

<p align="left"><font size="2" face="CG Times (W1)">&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 Plan has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 26th day of August, 2004.</font></p>

<p align="left"><font size="2" face="CG Times
(W1)">&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2003 DIRECTORS STOCK AWARD PLAN</font></p>

<p align="left"><font size="2" face="CG Times (W1)"></font></p>

<p align="left"><font size="2" face="CG Times
(W1)">&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: <u>/s/ Howard M. Leitner</u>________________</font></p>

<p align="left"><font size="2" face="CG Times
(W1)">&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;&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;&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;
Howard M. Leitner</font></p>

<p align="left"><font size="2" face="CG Times
(W1)">&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;&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;&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;
Senior Vice President, Finance</font></p>

<p align="left"><font size="2" face="CG Times (W1)"></font></p>
</div>

<font size="2" face="CG Times (W1)"><br clear="all" />
</font>

<div>
<p><b><font size="2" face="CG Times (W1)">INDEX TO EXHIBITS</font></b></p>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">Exhibit</font></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p><u><font size="2" face="Times New Roman">Number</font></u></p>
</td>
<td valign="top"></td>
<td valign="top">
<p align="center"><u><font size="2" face="Times New Roman">Exhibit</font></u></p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">3(i)(a)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Restated Certificate of Incorporation and two Certificates of Amendment of the Restated Certificate of Incorporation (incorporated by reference to Exhibit&nbsp;4(a) of Registration Statement No.&nbsp;33-12420 on Form S-8 filed
on March&nbsp;6, 1987).</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">3(i)(b)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Certificate of Amendment of Certificate of Incorporation, dated May&nbsp;7, 1987 (incorporated by reference to Exhibit&nbsp;3(b) of the Annual Report on Form&nbsp;10-K, File No.&nbsp;1-804, for the year ended December&nbsp;31,
1988, filed on March&nbsp;28, 1989).</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">3(i)(c)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Certificate of Amendment of Certificate of Incorporation, dated June 4, 1999.</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">3(ii)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Restated and amended (as of August&nbsp;26, 1993) by-laws (incorporated by reference to Exhibit&nbsp;3.3 of Registration Statement No.&nbsp;33-50843 on Form&nbsp;S-1, filed on October&nbsp;29, 1993).</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">3(ii)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Restated and Amended (as of March 25, 2004) by-laws (incorporated by reference to Exhibit 3.2 of Sequa&rsquo;s Quarterly Report on Form 10-Q, File No. 1-804, for the quarterly period ended March 31, 2004, filed on May 10,
2004).</font></p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Restated and amended (as of June 17, 2004) by-laws (incorporated by reference to Exhibit 3.3 of Quarterly Report on Form 10-Q, File No. 1-804, for the quarterly period ended June 30, 2004, filed on August 6, 2004).</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">5</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">* Opinion of Cahill Gordon &amp; Reindel</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">23(a)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Consent of Cahill Gordon &amp; Reindel LLP (contained in Exhibit 5)</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">23(b)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">* Consent of Ernst &amp; Young LLP</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">23(c)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">* Consent of Ernst &amp; Young LLP</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">24</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">Power of Attorney (set forth on the signature page of this Registration Statement)</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" face="Times New Roman">99(a)</font></p>
</td>
<td valign="top">
<p><font size="2" face="Symbol">&frac34;</font></p>
</td>
<td valign="top">
<p><font size="2" face="Times New Roman">* 2003 Directors Stock Award Plan (incorporated by reference to Exhibit 10.46 of the Annual Report on Form 10-K, File No. 1-804, for the year ended December 31, 2003, filed on March 15, 2004).</font></p>
</td>
</tr>
</table>

<p><font size="2" face="CG Times (W1)"></font></p>

<p><font size="2" face="CG Times (W1)">________________</font></p>

<p align="left"><font size="2" face="CG Times (W1)">* Filed herewith</font></p>
</div>

<font size="2" face="CG Times (W1)"><br clear="all" />
</font>

<div>
<p align="right"><font size="2" face="CG Times (W1)">August 31, 2004</font></p>

<p><font size="2" face="CG Times (W1)">(212) <a name="Phone"></a>701-3000</font></p>

<p align="left"><font size="2" face="CG Times (W1)">Sequa Corporation<br />
200 Park Avenue<br />
New York, New York 10166</font></p>

<p><a name="BodyStart"></a><font size="2" face="CG Times (W1)">Dear Ladies and Gentlemen:</font></p>

<p><font size="2" face="CG Times (W1)">We have acted as special counsel to Sequa Corporation, a Delaware corporation (the "Company"), in connection with the filing of a Registration Statement on Form S-8 under the Securities Act of 1933, as amended (the "Registration
Statement"), relating to the proposed issue and sale, from time to time, of interests in, and 50,000 shares of Class A Common Stock, no par value (the "Class A Common Stock"), of the Company issued in accordance with the terms and provisions of the 2003 Directors
Stock Award Plan of the Company (the "Plan"), and to which Registration Statement this opinion shall be filed as an exhibit (capitalized terms used herein without definition have the meanings given such terms in the Registration Statement).</font></p>

<p><font size="2" face="CG Times (W1)">We have examined (i) the Restated Certificate of Incorporation and two Certificates of Amendment of the Restated Certificate of Incorporation, the Certificate of Amendment of Certificate of Incorporation, dated May 7, 1987, the
Certificate of Amendment of Certificate of Incorporation, dated June 4, 1999, and the Restated and Amended Bylaws of the Company, (ii) the Plan, (iii) the Registration Statement and exhibits thereto and (iv) such other documents and instruments that we have deemed
necessary for the opinions hereinafter expressed.</font></p>

<p><font size="2" face="CG Times (W1)">Based upon the foregoing, we advise you that such shares of Class A Common Stock will be legally issued, fully paid and non-assessable.</font></p>

<p><font size="2" face="CG Times (W1)">We hereby consent to the filing of a copy of this opinion as an exhibit to said Registration Statement.</font></p>

<p><font size="2" face="CG Times (W1)">Very truly yours,</font></p>

<p><a name="Signature"></a><font size="2" face="CG Times (W1)">/s/ CAHILL GORDON &amp; REINDEL LLP</font></p>
</div>

<font size="2" face="Times New Roman"><br clear="all" />
</font>

<div>
<p align="right"><font size="3" face="Times New Roman">Exhibit 23(b)</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<p align="center"><font size="3" face="Times New Roman">Consent of Independent Registered Public Accounting Firm</font></p>

<p><font size="3" face="Times New Roman">We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2003 Directors Stock Award Plan of Sequa Corporation of our report dated March 8, 2004, with respect to the consolidated
financial statements and schedules of Sequa Corporation included in its Annual Report (Form 10-K) for the year ended December 31, 2003, filed with the Securities and Exchange Commission.</font></p>

<p><font size="3" face="Times New Roman">/s/ ERNST &amp; YOUNG LLP</font></p>

<p><font size="3" face="Times New Roman">New York, New York</font></p>

<p><font size="3" face="Times New Roman">August 27, 2004</font></p>

<font size="3" face="Times New Roman"><br clear="all" />
</font>

<p align="right"><font size="3" face="Times New Roman">Exhibit 23(c)</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<p align="center"><font size="3" face="Times New Roman">Consent of Independent Registered Public Accounting Firm</font></p>

<p><font size="3" face="Times New Roman">We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2003 Directors Stock Award Plan of Sequa Corporation of our report dated January 19, 2004, with respect to the financial
statements of BELAC LLC included in Sequa Corporation&rsquo;s Annual Report (Form 10-K) for the year ended December 31, 2003, filed with the Securities and Exchange Commission.</font></p>

<p><font size="3" face="Times New Roman">/s/ ERNST &amp; YOUNG LLP</font></p>

<p><font size="3" face="Times New Roman">Tampa, Florida</font></p>

<p><font size="3" face="Times New Roman">August 27, 2004</font></p>

<p><font size="3" face="Times New Roman"></font></p>

<p><font size="3" face="Times New Roman"></font></p>
</div>
</body>
</html>
[{"type": "S-8", "sequence": "1", "filename": "s8_aug04.htm", "description": "2003 DIRECTORS STOCK AWARD PLAN", "secsgml_size_bytes": 46268}]
{"company-data": {"conformed-name": "SEQUA CORP /DE/", "cik": "0000095301", "assigned-sic": "3724", "irs-number": "131885030", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-118684", "film-number": "041007945"}, "business-address": {"street1": "200 PARK AVE", "city": "NEW YORK", "state": "NY", "zip": "10166", "phone": "2129865500"}, "mail-address": {"street1": "200 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10166"}, "former-company": [{"former-conformed-name": "SUN CHEMICAL CORP", "date-changed": "19870521"}, {"former-conformed-name": "GENERAL PRINTING INK CORP", "date-changed": "19710510"}]}
As filed with the Securities and Exchange Commission on August __, 2004
As filed with the Securities and Exchange Commission on August 31, 2004
Registration No. 333-_____
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
Sequa Corporation
(Exact name of registrant as specified in its charter)
Delaware
13-1885030
(State or other jurisdiction
(IRS. Employer
of incorporation or organization)
Identification No.)
200 Park Avenue
New York, New York  10166
(Address of Principal Executive Offices and Zip Code)
________________
2003 Directors Stock Award Plan
(Full title of the Plan)
________________
Norman E. Alexander
Chairman of the Board and Chief Executive Officer
Sequa Corporation
200 Park Avenue
New York, New York  10166
(Name and address of agent for service)
(212) 986-5500
(Telephone number, including area code, of agent for service)
________________
Copy to:
W. Leslie Duffy, Esq.
Cahill Gordon & Reindel LLP
80 Pine Street
New York, New York 10005
(212) 701-3000
________________
CALCULATION OF REGISTRATION FEE
Title  of Each Class of Securities to be Registered
Amount to be
Registered (1)(2)
Proposed Maximum Offering Price Per  Unit (2)
Proposed Maximum Aggregate Offering Price (3)
Amount of
Registration Fee (2)
Class A
Common Stock,
no par value
50,000 shares
$51.48
$2,574,000
$326.13
(1)       There are also registered hereunder such indeterminate number of additional shares as may become subject to awards under the Plan as a result of the antidilution provision contained
therein.
(2)       In addition, pursuant to Rule 416(c) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the employee benefit plan described herein.
(3)       Estimated solely for purposes of calculating the registration fee.  Pursuant to Rules 457(c) and 457(h) under the Securities Act, the registration fee has been calculated based on the
average of the high and low sale prices reported for the Class A Common Stock of Sequa Corporation on August __, 2004, which was $__  per share, as reported on the New York Stock Exchange.
EXPLANTORY NOTE
Information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with the Note to Part I of Form S-8.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents, which are on file with the Commission, are incorporated in this Registration Statement by reference and made a part hereof:
1.             Sequa Corporation's (the "Registrant") Annual Report on Form 10-K (File No. 1-804) for the year ended December 31, 2003 (the "2003
Form 10-K") and Amendment No. 1 to Annual Report on Form 10-K (File No. 1-804) for the year ended December 31, 2003 dated March 26, 2004 (the "2003 Form 10-K/A").
2.             Registrant's Quarterly Reports on Form 10-Q (File No. 1-804) for the quarterly periods ended March 31, 2004 ("1st Q Form 10-Q") and
June 30, 2004 ("2nd Q Form 10-Q"), respectively.
3.             Registrant's Current Report on Form 8-K (File No. 1-804) filed April 16, 2004.
4.             Registrant's Proxy Statement on Schedule 14A (File No. 1-804) filed March 30, 2004.
5.             The description of Registrant's Class A Common Stock contained in our Form 8-A (File No. 1-804) dated December 3, 1986.
All documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 or 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, shall be deemed to be incorporated by reference in this Registration Statement and to be part thereof 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 subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.  Any statement modified or superseded shall not be deemed, except as so modified or superseded, to constitute
part of this Registration Statement.
ITEM 4. DESCRIPTION OF SECURITIES.
This item is not applicable as Registrant's Class A Common Stock is registered under Section 12 of the Exchange Act.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
This item is not applicable.
ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Reference is made to Section 102(b)(7) of the Delaware General Corporation Law (the "DGCL"), which permits a corporation in its certificate of incorporation or an amendment thereto to eliminate or limit the personal
liability of a director for violations of the director's fiduciary duty, except (i) for any breach of the director's fiduciary duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct
or a knowing violation of law, (iii) pursuant to Section 174 of the DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions), or (iv) for any transaction from which the director derived an improper
personal benefit.  The Company's Restated Certificate of Incorporation contains provisions permitted by Section 102(b)(7) of the DGCL.
Reference is made to Section 145 of the DGCL which provides that a corporation may indemnify any persons, including directors and officers, who are, or are threatened to be made, parties to any threatened, pending or completed
legal action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was a director, officer, employee or agent of another corporation,
or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise.  The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such action, suit or proceeding, provided such director, officer, employee or agent acted in good faith and in a manner he reasonably believed to be in or not opposed to the corporation's best interests and, with
respect to any criminal actions or proceedings, had no reasonable cause to believe that his conduct was unlawful.  A Delaware corporation may indemnify directors and/or officers in an action or suit by or in the right of the corporation under the same
conditions, except that no indemnification is permitted without judicial approval if the director or officer is adjudged to be liable to the corporation.  Where a director or officer is successful on the merits or otherwise in the defense of any action referred
to above, the corporation must indemnify him or her against the expenses which such director or officer actually and reasonably incurred.
The Company's Restated Certificate of Incorporation and By-laws provide for the indemnification of directors and officers of the Company to the fullest extent permitted by the DGCL.
The Company provides liability insurance for each director and officer for certain losses arising from claims or charges made against them while acting in their capacities as directors or officers of the Company.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
This item is not applicable.
ITEM 8.  EXHIBITS.
The Exhibits to this Registration Statement are listed in the Exhibit Index on Page E-1 of this Registration Statement (the "Index"), which Index is incorporated herein by reference.
The Registrant will submit the Plan, including any amendments thereto to the Internal Revenue Service (the "IRS") in a timely manner and will make all changes required by the IRS in order to maintain the tax qualified status of
the Plan.
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:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
(iii) 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, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)           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 Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the 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.
(c)           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.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, Sequa Corporation, 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, thereunder duly authorized, in the City of New York, State of New York on the 26th day of August, 2004.
SEQUA CORPORATION
(Registrant)
By
:  /s/ Norman E.
Alexander
Norman E. Alexander
Chairman of the Board and Chief
Executive Officer
Each person whose signature appears below appoints Norman E. Alexander, Kenneth A. Drucker, Diane C. Bunt, and each of them, any of whom may act without the joinder of the other, as his or her true and lawful
attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement on Form S-8 and
to file the same, with all exhibits thereto and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite
and necessary to be done, 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 their substitute or substitutes may lawfully do or cause to be done by virtue
hereof.
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 dates indicated.
Signature
Title
Date
/s/
Norman E. Alexander
Norman E. Alexander
Chairman of the Board and Chief Executive Officer
(Principal Executive Officer)
August 26, 2004
/s/
John J. Quicke
John J. Quicke
Vice Chairman and Director
August 26, 2004
/s/ Martin
Weinstein
Martin Weinstein
Vice Chairman and Director
August 26, 2004
/s/ Howard M.
Leitner
Howard M. Leitner
Senior Vice President, Finance (Principal Financial Officer)
August 26, 2004
/s/ Joanne M. O'Sullivan
Joanne M. O'Sullivan
Vice President and Controller
(Principal Accounting Officer)
August 30, 2004
/s/ Edward E.
Barr
Edward E. Barr
Director
August 26, 2004
/s/
Alvin Dworman
Alvin Dworman
Director
August 26, 2004
/s/
David S. Gottesman
David S. Gottesman
Director
August 30, 2004
/s/
Richard S. Lefrak
Richard S. LeFrak
Director
August 26, 2004
/s/ R. Scott
Schafler
R. Scott Schafler
Director
August 26, 2004
/s/
Michael I. Sovern
Michael I. Sovern
Director
August 26, 2004
/s/
Fred R. Sullivan
Fred R. Sullivan
Director
August 26, 2004
/s/ Gerald Tsai,
Jr.
Gerald Tsai, Jr.
Director
August 26, 2004
Pursuant to the requirements of the Securities Act of 1933, the Plan has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 26th day of August, 2004.
2003 DIRECTORS STOCK AWARD PLAN
By:
/s/ Howard M. Leitner
________________
Howard M. Leitner
Senior Vice President, Finance
INDEX TO EXHIBITS
Exhibit
Number
Exhibit
3(i)(a)
¾
Restated Certificate of Incorporation and two Certificates of Amendment of the Restated Certificate of Incorporation (incorporated by reference to Exhibit 4(a) of Registration Statement No. 33-12420 on Form S-8 filed
on March 6, 1987).
3(i)(b)
¾
Certificate of Amendment of Certificate of Incorporation, dated May 7, 1987 (incorporated by reference to Exhibit 3(b) of the Annual Report on Form 10-K, File No. 1-804, for the year ended December 31,
1988, filed on March 28, 1989).
3(i)(c)
¾
Certificate of Amendment of Certificate of Incorporation, dated June 4, 1999.
3(ii)
¾
Restated and amended (as of August 26, 1993) by-laws (incorporated by reference to Exhibit 3.3 of Registration Statement No. 33-50843 on Form S-1, filed on October 29, 1993).
3(ii)
¾
Restated and Amended (as of March 25, 2004) by-laws (incorporated by reference to Exhibit 3.2 of Sequa's Quarterly Report on Form 10-Q, File No. 1-804, for the quarterly period ended March 31, 2004, filed on May 10,
2004).
¾
Restated and amended (as of June 17, 2004) by-laws (incorporated by reference to Exhibit 3.3 of Quarterly Report on Form 10-Q, File No. 1-804, for the quarterly period ended June 30, 2004, filed on August 6, 2004).
5
¾
* Opinion of Cahill Gordon & Reindel
23(a)
¾
Consent of Cahill Gordon & Reindel LLP (contained in Exhibit 5)
23(b)
¾
* Consent of Ernst & Young LLP
23(c)
¾
* Consent of Ernst & Young LLP
24
¾
Power of Attorney (set forth on the signature page of this Registration Statement)
99(a)
¾
* 2003 Directors Stock Award Plan (incorporated by reference to Exhibit 10.46 of the Annual Report on Form 10-K, File No. 1-804, for the year ended December 31, 2003, filed on March 15, 2004).
________________
* Filed herewith
August 31, 2004
(212)
701-3000
Sequa Corporation
200 Park Avenue
New York, New York 10166
Dear Ladies and Gentlemen:
We have acted as special counsel to Sequa Corporation, a Delaware corporation (the "Company"), in connection with the filing of a Registration Statement on Form S-8 under the Securities Act of 1933, as amended (the "Registration
Statement"), relating to the proposed issue and sale, from time to time, of interests in, and 50,000 shares of Class A Common Stock, no par value (the "Class A Common Stock"), of the Company issued in accordance with the terms and provisions of the 2003 Directors
Stock Award Plan of the Company (the "Plan"), and to which Registration Statement this opinion shall be filed as an exhibit (capitalized terms used herein without definition have the meanings given such terms in the Registration Statement).
We have examined (i) the Restated Certificate of Incorporation and two Certificates of Amendment of the Restated Certificate of Incorporation, the Certificate of Amendment of Certificate of Incorporation, dated May 7, 1987, the
Certificate of Amendment of Certificate of Incorporation, dated June 4, 1999, and the Restated and Amended Bylaws of the Company, (ii) the Plan, (iii) the Registration Statement and exhibits thereto and (iv) such other documents and instruments that we have deemed
necessary for the opinions hereinafter expressed.
Based upon the foregoing, we advise you that such shares of Class A Common Stock will be legally issued, fully paid and non-assessable.
We hereby consent to the filing of a copy of this opinion as an exhibit to said Registration Statement.
Very truly yours,
/s/ CAHILL GORDON & REINDEL LLP
Exhibit 23(b)
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2003 Directors Stock Award Plan of Sequa Corporation of our report dated March 8, 2004, with respect to the consolidated
financial statements and schedules of Sequa Corporation included in its Annual Report (Form 10-K) for the year ended December 31, 2003, filed with the Securities and Exchange Commission.
/s/ ERNST & YOUNG LLP
New York, New York
August 27, 2004
Exhibit 23(c)
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2003 Directors Stock Award Plan of Sequa Corporation of our report dated January 19, 2004, with respect to the financial
statements of BELAC LLC included in Sequa Corporation's Annual Report (Form 10-K) for the year ended December 31, 2003, filed with the Securities and Exchange Commission.
/s/ ERNST & YOUNG LLP
Tampa, Florida
August 27, 2004