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

                                 SCHEDULE 14A

                 Proxy Statement Pursuant to Section 14(a) of the Securities
             Exchange Act of 1934 (Amendment No. )

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                    THE ST. PAUL TRAVELERS COMPANIES, INC.
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               (Name of Registrant as Specified In Its Charter)

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[ST. PAUL TRAVELERS LOGO]

385 Washington Street
St. Paul, MN  55102-1396
651-310-7911 TEL
www.stpaultravelers.com




                                                            April 25, 2005



Dear Shareholder:

This letter is to inform you that the table on page 24 of the Proxy Statement
for the May 3, 2005 Annual Meeting of the Shareholders of The St. Paul
Travelers Companies, Inc. incorrectly reported the percentages of options
granted to the five named executives, relative to the total options granted to
all employees in 2004.

The table entitled "Option Grants in 2004" should have been reported as
follows:



                                               OPTION GRANTS IN 2004

                                                 Individual Grants
- ---------------------------------------------------------------------------------------------------------------
                                                   % of Total
                                                     Options
                       Securities Underlying       Granted to       Exercise or                    Grant Date
                              Options              Employees         Base Price    Expiration    Present Value
         Name           Granted (Number)(1)         in 2004          ($/Share)        Date          ($)(2)
- --------------------- ---------------------- --------------------- ------------ --------------- ---------------
                        Initial     Reload    Initial     Reload

                                                                             

J.S. Fishman              500,000      --     10.20%          --       $42.88        2/2/2014       $6,726,998
R. I. Lipp                     --      --         --          --           --              --               --
T.M. Miller               100,000      --      2.04%          --       $42.88        2/2/2014       $1,345,400
J. S. Benet                64,096      --      1.31%          --       $42.55       4/27/2014       $  877,543
                               --      36         --      0.001%       $40.87       11/2/2008       $      216
W. H. Heyman              100,000      --      2.04%          --       $42.88        2/2/2014       $1,345,400
- ------------------


(1)      The stock options granted to Messrs. Fishman, Miller and Heyman were
         granted on February 2, 2004, and vest in 25% consecutive annual
         increments beginning one year from the date of grant. The initial
         options granted to Mr. Benet were granted on April 27, 2004, and vest
         50% after two years from the date of grant and 25% on each of the
         third and fourth anniversaries of the grant date. The options granted
         to Messrs. Fishman, Miller and Heyman will become immediately vested
         and exercisable in full upon a Change of Control (as defined in the
         1994 St. Paul Stock Plan described above); however, the Merger did
         not constitute a Change of Control for purposes of this option grant.




(2)      The "grant date present value" numbers in the table were derived by
         application of a variation of the Black-Scholes option pricing model.
         The following assumptions were used in employing the model.

         -   Stock price volatility was calculated using the average
             historical volatility of the common stock of an industry peer
             group over the estimated option life based on the mid-month of
             the option grant.
         -   The risk-free interest rate for each option grant was the
             interpolated market yield for the mid-month of the option grant
             on a Treasury bill with a term identical to the subject
             estimated option life, as reported by the Federal Reserve.
         -   The dividend yield was based upon the Company's 2004 annual
             dividend rate which was assumed to be constant over the life of
             the option.
         -   For initial options, which vest over a four year period,
             exercise was assumed to occur approximately five to seven years
             after the date of grant, based on the assumption that exercise
             would occur evenly throughout the period between the vesting
             date and the expiration date.
         -   For the reload option granted to Mr. Benet, which vests six
             months after the date of grant, exercise was assumed to occur
             approximately one to three years after the grant date, based on
             the assumption that exercise would occur evenly throughout the
             period between the vesting date and expiration date.



                                                  Sincerely,

                                                  /s/ Bruce A. Backberg

                                                  Bruce A. Backberg
                                                  Senior Vice President &
                                                   Corporate Secretary