Bath & Body Works, Inc. — Director's Dealing 2012

Feb 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIMITED BRANDS INC (LTD)
CIK: 0000701985
Period of Report: 2012-02-02

Reporting Person: Wexner Leslie H. (Director, Chairman and CEO, 10% Owner)
Reporting Person: WEXNER ABIGAIL S (Director, Chairman and CEO, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-02	Stock option (right to buy)	$13.7428	M	516630	Disposed	2012-02-04	Common Stock (516630)	Direct
2012-02-02	Stock option settlement right	$	A	516630	Acquired	2012-12-31	Common Stock (516630)	Direct

Footnotes

F1: Reflects adjustments from antidilution etc. pursuant to the Issuer's incentive plan.

F2: The Issuer originally granted 400,000 stock options to Leslie H. Wexner ("Mr. Wexner") with an exercise price of $17.75 per share pursuant to the Issuer's incentive plan. The options vested in installments as follows: 2/4/03 - 100,000 shares; 2/4/04 - 100,000 shares; 2/4/05 - 100,000 shares; and 2/4/06 - 100,000 shares.

F3: Mr. Wexner exercised the stock option in full by paying the aggregate exercise price in cash.

F4: Not applicable.

F5: The stock option was amended to provide, in general, that following exercise of the option, it settles as follows: the Company will be obligated to deliver to Mr. Wexner, after compliance with certain regulatory requirements, newly-issued underlying shares of Common Stock, but if the shares cannot be delivered by 12/31/2012, in lieu thereof to pay Mr. Wexner an amount in cash equal to then value of such shares.

F6: Owned by Mr. Wexner directly. Owned by Abigail S. Wexner ("Mrs. Wexner") indirectly, through Mr. Wexner.

F7: Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of her pecuniary interest therein.