<PAGE>
Pricing Supplement No. 14 Filing under Rule 424(b)(2)
Dated December 1, 1998 Registration File No. 333-06465
(to Prospectus dated August 6,
1996 and Prospectus Supplement
dated August 7, 1996)
$275,000,000
The St. Paul Companies, Inc.
Medium-Term Notes, Series C
Principal Amount: $104,000,000
Fixed Interest Rate: 6.38%
Stated Maturity: December 15, 2008
Issue Price (as a percentage
of principal amount): 100%
Selling Agent's Commission (%): .625%
Net Proceeds to the Company (%): 99.375%
CUSIP No.: 79286LDN9
Form: Global Note; Book-Entry Only
Settlement Date
(original issue date): December 4, 1998
Selling Agent: Goldman, Sachs & Co.
As of the date of this Pricing Supplement, the aggregate
initial public offering price of the Debt Securities (as
defined in the Prospectus) which has been sold (including
the Notes to which this Pricing Supplement relates) is
$218,500,000.
GOLDMAN, SACHS & CO.
J.P. MORGAN SECURITIES INC.