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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___ )*
Select Comfort Corporation
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(Name of Issuer)
Common
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(Title of Class of Securities)
81616X100
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(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 5 Pages
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CUSIP No. 81616X100 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSONS. S.S. or I.R.S IDENTIFICATION NO. OF ABOVE
PERSONS
The St. Paul Companies, Inc.
385 Washington Street
St. Paul, MN 55102
IRS# 41-0518860
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ( )
(b) ( )
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota Corporation
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5 SOLE VOTING POWER
None
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NUMBER OF 6 SHARED VOTING POWER
The St. Paul Companies, Inc., through its
SHARES wholly-owned subsidiary, St. Paul Fire and
Marine Insurance Company (F&M), and through
BENEFICIALLY F&M's 99% ownership of St. Paul Venture Capital
IV, LLC (SPVC IV), beneficially owns 5,154,748
OWNED BY EACH shares of common stock by virtue of F&M's
ownership of 4,766,008 shares of common stock
REPORTING and 59,769 shares of common stock issuable upon
exercise of outstanding warrants, which are
PERSON WITH convertible within 60 days, and SPVC IV's
ownership of 321,017 shares of common stock and
7,954 shares of common stock issuable upon
exercise of outstanding warrants, which are
convertible within 60 days.
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7 SOLE DISPOSITIVE POWER
None
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8 SHARED DISPOSITIVE POWER
5,154,748 shares (see remark in Item 6)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,154,748 shares (see remark in Item 6)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
28.4%
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 3 of 5 Pages
ITEM 1 (A). NAME OF ISSUER:
Select Comfort Corporation
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ITEM 1 (B). ADDRESS OF ISSUER'S PRINCIPAL OFFICES:
6105 Trenton Lane North
Suite 100
Plymouth, MN 55442
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ITEM 2 (A). NAME OF PERSON FILING:
The St. Paul Companies, Inc.
(see Exhibit A)
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ITEM 2 (B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
385 Washington Street
St. Paul, MN 55102
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ITEM 2 (C). CITIZENSHIP:
Minnesota corporation
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ITEM 2 (D). TITLE OF CLASS OF SECURITIES:
Common
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ITEM 2 (E). CUSIP NUMBER:
81616X100
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as define in section 3(a)(19) of the Act
(d) / / Investment Company registered under section 8 of the
Investment Company Act
(e) / / Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) / / Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F)
(g) /x/ Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) (Note: See Item 7)
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
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Page 4 of 5 Pages
ITEM 4. OWNERSHIP
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(a) Amount Beneficially Owned: The St. Paul Companies, Inc.,
through its wholly-owned subsidiary, St. Paul Fire and
Marine Insurance Company (F&M), and through F&M's 99%
ownership of St. Paul Venture Capital IV, LLC (SPVC IV),
beneficially owns 5,154,748 shares of common stock by virtue
of F&M's ownership of 4,766,008 shares of common stock and
59,769 shares of common stock issuable upon exercise of
outstanding warrants, which are convertible within 60 days,
and SPVC IV's ownership of 321,017 shares of common stock
and 7,954 shares of common stock issuable upon exercise of
outstanding warrants, which are convertible within 60 days.
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(b) Percent of Class: The shares reported in Item 4(a), above,
constitute 28.4% of the outstanding common shares of the
Issuer.
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(c) Number of shares as to which such person has:
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(i) Sole power to vote or direct the vote: none
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(ii) Shared power to vote or direct the vote: 5,154,748
(see remark in Item 4(a) above)
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(iii) Sole power to dispose or direct the disposition: none
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(iv) Shared power to dispose or direct the disposition:
5,154,748 (see remark in Item 4(a) above
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this
statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner
of more than five person of the class of securities, check the
following. / /
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY PARENT HOLDING COMPANY:
St. Paul Fire and Marine Insurance Company is an Insurance Company
under Reg. 240.13d-1(b)(1)(ii)(C)
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable
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ITEM 9. NOTICE OF DISSOLUTION OF GROUP: Not Applicable
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the control
of the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purposes or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
Statement is true, complete and correct.
Date: February 8, 1999
/Bruce A. Backberg/
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Bruce A. Backberg
Senior Vice President and Chief Legal Counsel
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
EXHIBIT A - DISCLAIMER
Information on the attached Schedule 13G is provided solely for the purpose of
complying with Section 13(d) and 13(g) of the Securities Exchange Act of 1934
and Regulation promulgated under authority thereof and is not intended as an
admission that The St. Paul Companies, Inc. or any of its subsidiaries, is a
beneficial owner of the securities described herein for any other purpose.
