TAYLOR ANN STORES CORP
EXHIBIT 10.6.1
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.6.1 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FIRST AMENDMENT TO THE
<BR>ANNTAYLOR STORES CORPORATION<BR>2003 EQUITY INCENTIVE PLAN </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
AnnTaylor Stores Corporation 2003 Equity Incentive Plan (the &#147;Plan&#148;) is hereby
amended effective as of March 9, 2004 (the &#147;Effective Date&#148;) as set forth below. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The second sentence of Section 6(f) of the Plan is hereby amended in its
          entirety to read as follows, effective with respect to all Options (as defined
          in the Plan) granted pursuant to the Plan, including outstanding Options granted
          before the Effective Date: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;In
the event that the employment or service of an Optionee shall terminate or cease other
than by reason of death, Disability or Retirement, all Options theretofore granted to such
Optionee that are exercisable at the time of such termination may, to the extent not
theretofore exercised or canceled, be exercised at any time within three (3) months after
such termination of employment or cessation of service, as applicable; provided, however,
that the Committee may in its discretion extend the period for exercise of such Options to
a date later than three (3) months after such separation or cessation date, but in any
event not beyond the date on which the Option would otherwise expire pursuant to Section
6(e) hereof; provided, further, that if the employment of an Optionee shall terminate for
Cause, all Options theretofore granted to such Optionee shall, to the extent not
theretofore exercised, forthwith terminate immediately upon termination.&#148; </FONT>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Except
as set forth above, the Plan is hereby ratified and affirmed in all respects. </FONT></P>
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