SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

West Sandra Lynn

(Last)

(First)

(Middle)

THREE LIMITED PARKWAY

(Street)

COLUMBUS

43230

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LIMITED BRANDS INC [ LTD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP-Human Resources

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.50 par value	03/27/2006		M		19,675	A	$16.8406	45,094	D
Common Stock, $0.50 par value	03/27/2006		M		8,432	A	$17.7799	53,526	D
Common Stock, $0.50 par value	03/27/2006		M		11,594	A	$18.0589	65,120	D
Common Stock, $0.50 par value	03/27/2006		M		17,275	A	$14.8784	82,395	D
Common Stock, $0.50 par value	03/27/2006		S		100	D	$24.69	82,295	D
Common Stock, $0.50 par value	03/27/2006		S		700	D	$24.67	81,595	D
Common Stock, $0.50 par value	03/27/2006		S		300	D	$24.66	81,295	D
Common Stock, $0.50 par value	03/27/2006		S		400	D	$24.64	80,895	D
Common Stock, $0.50 par value	03/27/2006		S		300	D	$24.62	80,595	D
Common Stock, $0.50 par value	03/27/2006		S		1,100	D	$24.6	79,495	D
Common Stock, $0.50 par value	03/27/2006		S		2,000	D	$24.59	77,495	D
Common Stock, $0.50 par value	03/27/2006		S		3,400	D	$24.58	74,095	D
Common Stock, $0.50 par value	03/27/2006		S		1,100	D	$24.57	72,995	D
Common Stock, $0.50 par value	03/27/2006		S		4,800	D	$24.56	68,195	D
Common Stock, $0.50 par value	03/27/2006		S		22,200	D	$24.55	45,995	D
Common Stock, $0.50 par value	03/27/2006		S		1,400	D	$24.54	44,595	D
Common Stock, $0.50 par value	03/27/2006		S		11,900	D	$24.53	32,695	D
Common Stock, $0.50 par value	03/27/2006		S		700	D	$24.51	31,995	D
Common Stock, $0.50 par value	03/27/2006		M		13,389	A	$16.0182	45,384	D
Common Stock, $0.50 par value	03/27/2006		M		43,823	A	$16.0182	89,207	D
Common Stock, $0.50 par value	03/27/2006		S		1,100	D	$24.52	88,107	D
Common Stock, $0.50 par value	03/27/2006		S		16,500	D	$24.5	71,607	D
Common Stock, $0.50 par value	03/27/2006		S		3,888	D	$24.49	67,719	D
Common Stock, $0.50 par value	03/27/2006		S		2,100	D	$24.48	65,619	D
Common Stock, $0.50 par value	03/27/2006		S		4,400	D	$24.47	61,219	D
Common Stock, $0.50 par value	03/27/2006		S		2,500	D	$24.46	58,719	D
Common Stock, $0.50 par value	03/27/2006		S		800	D	$24.45	57,919	D
Common Stock, $0.50 par value	03/27/2006		S		700	D	$24.44	57,219	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option - Right to Buy	$16.0182	03/27/2006		M			13,389	02/01/2003	02/01/2009	Common Stock, $0.50 par value	13,389	$0	0.00	D
Stock Option - Right to Buy	$16.0182	03/27/2006		M			43,823	02/01/2005	02/01/2009	Common Stock, $0.50 par value	43,823	$0	0.00	D
Stock Option - Right to Buy	$18.0589	03/27/2006		M			11,594	06/07/2004	06/07/2010	Common Stock, $0.50 par value	11,594	$0	0.00	D
Stock Option - Right to Buy	$14.8784	03/27/2006		M			17,275	02/05/2005	02/05/2011	Common Stock, $0.50 par value	17,275	$0	0.00	D
Stock Option - Right to Buy	$16.8406	03/27/2006		M			19,675	⁽¹⁾	02/04/2012	Common Stock, $0.50 par value	19,675	$0	4,917	D
Stock Option - Right to Buy	$17.7799	03/27/2006		M			8,432	⁽¹⁾	02/02/2014	Common Stock, $0.50 par value	8,432	$0	12,647	D

Explanation of Responses:

1. Option vests 20% per year beginning on the first anniversary of the date of grant.

Remarks:

This is the first Form 4 to be filed for transactions made on 3/27/06. Multiple Form 4s are being filed due to the 30 transaction limit per Form 4 imposed by the SEC.

	By: Robert J. Tannous, Attorney-in-Fact	03/28/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.