Exhibit 12

Limited Brands, Inc.
Ratio of Earnings to Fixed Charges
(in thousands)

		2002		2001		2000		1999		1998
Earnings
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees	$	845,307	$	956,255	$	818,345	$	858,641	$	2,420,184
Portion of minimum rent representative of interest		166,712		164,609		167,000		174,010		178,670
Interest on indebtedness		29,559		33,960		58,244		78,297		68,528
Total Earnings as Adjusted	$	1,041,578	$	1,154,824	$	1,043,589	$	1,110,948	$	2,667,382
Fixed Charges
Interest on indebtedness	$	29,559	$	33,960	$	58,244	$	78,297	$	68,528
Portion of minimum rent representative of interest		166,712		164,609		167,000		174,010		178,670
Total Fixed Charges	$	196,271	$	198,569	$	225,244	$	252,307	$	247,198
Ratio of Earnings to Fixed Charges		5.31		5.82		4.63		4.40		10.79