As filed with the Securities and Exchange Commission on August 19, 1999.

Registration No. 333-

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8

Registration Statement
Under
The Securities Act of 1933
AVX Corporation
(Exact name of registrant as specified in its charter)

       State of Delaware                                  33-0379007
-------------------------------                 -----------------------------
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                        Identification No.)

     801 17th Avenue South
 Myrtle Beach, South Carolina                                29577
-------------------------------                 -----------------------------
(Address of principal executive                           (Zip Code)
           offices)

AVX Corporation 1995 Stock Option Plan
AVX Corporation Non-Employee Directors' Stock Option Plan

(Full title of the plan)

Donald B. Christiansen
AVX Corporation
801 17th Avenue South
Myrtle Beach, South Carolina 29577
(843) 449-9411
(Name, address and telephone number
of agent for service)

Copy to:
Gary C. Ivey, Esq.
Parker, Poe, Adams & Bernstein L.L.P.
2500 Charlotte Plaza
Charlotte, North Carolina 28244
(704) 372-9000

CALCULATION OF REGISTRATION FEE


    Title of                                            Proposed maximum      Proposed maximum
Securities to be              Amount to be               offering price      aggregate offering                 Amount of
   registered:              registered (1):                per share:              price:                   registration fee:
 --------------              --------------              --------------        --------------                 --------------
  Common Stock,              127,800 shares                $17.30 (2)            $ 2,210,500                      $ 615
 $.01 par value              522,200 shares                $32.75 (3)            $17,102,050                      4,755
                                                                                                                 ------
                                                                                                                 $5,370

(1) 1,650,000 shares were previously registered under Registration No. 33-98094 for issuance under the AVX Corporation 1995 Stock Option Plan or AVX Corporation Non-Employee Directors' Stock Option Plan (collectively, the "Plans"), and an additional 1,100,000 shares were previously registered under Registration No. 333-37201 for issuance under the AVX Corporation 1995 Stock Option Plan.
(2) Estimated solely for the purposes of calculating the registration fee pursuant to Rule 457(h)(1) under the Securities Act of 1933 and based on the exercise prices of the options ($15.00 per share for 50,000 shares, $16.00 per share for 62,800 shares and $30.38 per share for 15,000 shares) for shares of Common Stock granted to date.
(3) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) under the Securities Act of 1933 and based on the average of the highest and lowest prices at which shares of Common Stock of AVX Corporation ("AVX") were sold on August 12, 1999 (NYSE-Composite Transactions).

Pursuant to Rule 429 of the Rules and Regulations of the Securities Act of 1933 (the "Securities Act"), this Registration Statement also constitutes a post-effective amendment to: (i) AVX's Registration Statement on Form S-8 (Registration No. 33-98094) relating to the registration of 1,650,000 shares of Common Stock under the Plans and (ii) AVX's Registration Statement on Form S-8 (Registration No. 333-37201) relating to the registration of an additional 1,100,000 shares of Common Stock under the AVX Corporation 1995 Stock Option Plan, in each case to include the material amendments to the Plans.


The Exhibit Index is located on page 6.

Part I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

The document(s) containing the information specified in Part I of Form S-8 will be sent or given to persons participating in the Plans, as specified by Rule 428(b)(1) under the Securities Act. These documents and the documents incorporated by reference into this Registration Statement, taken together, constitute a prospectus with respect to the Plans that meets the requirements of
Section 10(a) of the Securities Act. Capitalized terms used but not defined herein shall have the same meanings ascribed to them in the Plans.

Part II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

The following documents filed by AVX are incorporated herein by reference:

(a) AVX's Annual Report on Form 10-K for the year ended March 31, 1999;

(b) AVX's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 1999; and

(c) AVX's Registration Statement on Form 8-A dated July 7, 1995 registering its $.01 par value common stock under Section 12(b) of the Securities Exchange Act of 1934 (the "Exchange Act").

All documents filed by AVX pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Item 4. Description of Securities.

Not Applicable.

Item 5. Interests of Named Experts and Counsel.

None.

Item 6. Indemnification of Directors and Officers.

Section 145 of the General Corporation Law of the State of Delaware (the "DGCL") provides that a corporation may indemnify any person, including an officer or director, who was or is, or is threatened to be made, a party to any threatened, pending or completed legal action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was a director, officer, employee or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation. The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such officer, director, employee or agent acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests and, for criminal actions and proceedings, had no reasonable cause to believe that his conduct was unlawful. A Delaware corporation may indemnify officers and directors in an action by or in the right of the corporation under the same conditions, except that no indemnification is permitted without judicial approval if the officer or director is adjudged to be liable to the corporation. Where an officer or director is successful on the merits or otherwise in the defense of any action referred to above, the corporation must indemnify him against the expenses which such officer or director actually or reasonably incurred.

The registrant's Restated Certificate of Incorporation provides that no director of the registrant will be personally liable to the registrant or its stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL as currently in effect or as the same may hereafter be amended.

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Pursuant to Section 102(b)(7) of the DGCL, the Restated Certificate of Incorporation of the registrant eliminates the liability of the registrant's directors to the registrant or its stockholders, except for liabilities related to breach of duty of loyalty, actions not in good faith and certain other liabilities.

The registrant maintains directors' and officers' liability insurance policies. The By-laws of the registrant provide for indemnification of the officers and directors of the registrant to the fullest extent permitted by applicable law.

Item 7. Exemption from Registration Claimed.

Not Applicable.

Item 8. Exhibits.

Exhibit              Description

 *4.1              AVX Corporation 1995 Stock Option Plan, as amended July 15,
                   1999 (incorporated by reference to Exhibit 10.10 to AVX's
                   Quarterly Report on Form 10-Q for the quarter ended June 30,
                   1999)

  4.2              AVX Corporation Non-Employee Directors' Stock Option Plan, as
                   amended July 15, 1999

 *4.3              Form of Stock Option Agreements under the AVX Corporation
                   1995 Stock Option Plan (incorporated by reference to Exhibit
                   4.2 to AVX's Registration Statement on Form S-8 (No.
                   33-98094) filed October 13, 1995)

 *4.4              Form of Stock Option Agreement under the AVX Corporation
                   Non-Employee Directors' Stock Option Plan (incorporated by
                   reference to Exhibit 4.4 to AVX's Registration Statement on
                   Form S-8 (No. 33-98094) filed October 13, 1995)

  5.1              Opinion of Parker, Poe, Adams & Bernstein L.L.P. as to the
                   legality of the securities to be registered

 23.1              Consent of PricewaterhouseCoopers LLP

 23.2              Consent of Parker, Poe, Adams & Bernstein L.L.P. (included in
                   Exhibit 5.1)

 24.1              Power of Attorney

----------

* Incorporated by reference to another document on file with the Commission with which such exhibit is physically filed, to be a part hereof as of the date thereof.

Item 9. Undertakings.

(a) The undersigned registrant hereby undertakes:

(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

(2) that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and

(3) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13 (a) or Section 15(d) of the Exchange Act that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of

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expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

[Signatures appear on the following page.]

4

SIGNATURES

THE REGISTRANT. Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Myrtle Beach, State of South Carolina, on the 18th day of August, 1999.

                          Signatures                                        Title                                  Date
                          ----------                                        -----                                  ----
                  /s/ Benedict P. Rosen                          Chairman of the Board and Chief          August 18, 1999
-----------------------------------------------                  Executive-Officer
                      Benedict P. Rosen
                       AVX Corporation


Pursuant to the requirements of the Securities Act of 1933, this registration
statement has been signed by the following persons in the capacities and on the
date indicated.


                          Signatures                                        Title                                  Date
                          ----------                                        -----                                  ----

                              *                                  Chairman Emeritus of the Board           August 18, 1999
-----------------------------------------------                  and-Director
                        Kazuo Inamori


                  /s/ Benedict P. Rosen                          Chairman of the Board, Chief             August 18, 1999
-----------------------------------------------                  Executive-Officer,-and-Director
                      Benedict P. Rosen                          (Principal Executive officer)


                              *                                  President, Chief Operating Officer       August 18, 1999
-----------------------------------------------                  and-Director
                      John S. Gilbertson

               /s/ Donald B. Christiansen                        Chief Financial Officer, Senior          August 18, 1999
-----------------------------------------------                  Vice-President-of-Finance,
                   Donald B. Christiansen                        Treasurer, and Director (Principal
                                                                 Financial and Principal Accounting
                                                                 Officer)

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                   Carroll A. Campbell, Jr.

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                         Kensuke Itoh

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                     Rodney N. Lanthorne

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                       Masahiro Umemura

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                       Masahiro Yamamoto

                              *                                  Director                                 August 18, 1999
-----------------------------------------------
                        Yuzo Yamamura

                /s/ Donald B. Christiansen
-----------------------------------------------

                    Donald B. Christiansen
                       Attorney-in-fact
                        pursuant to a
                      power of attorney
                      filed herewith as
                         part of this
                    Registration Statement

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EXHIBIT INDEX

Exhibit            Description
-------            -----------

 *4.1              Amended AVX Corporation 1995 Stock Option Plan, effective
                   July 15, 1999 (incorporated by reference to Exhibit 10.10 to
                   AVX's Quarterly Report on Form 10-Q for the quarter ended
                   June 30, 1999)

  4.2              AVX Corporation Non-Employee Directors' Stock Option Plan,
                   as amended July 15, 1999

 *4.3              Form of Stock Option Agreements under the AVX Corporation
                   1995 Stock Option Plan (incorporated by reference to Exhibit
                   4.2 to AVX's Registration Statement on Form S-8 (No.
                   33-98094) filed October 13, 1995)

 *4.4              Form of Stock Option Agreement under the AVX Corporation
                   Non-Employee Directors' Stock Option Plan (incorporated by
                   reference to Exhibit 4.4 to AVX's Registration Statement on
                   Form S-8 (No. 33-98094) filed October 13, 1995)

  5.1              Opinion of Parker, Poe, Adams & Bernstein L.L.P. as to the
                   legality of the securities to be registered

 23.1              Consent of PricewaterhouseCoopers LLP

 23.2              Consent of Parker, Poe, Adams & Bernstein L.L.P. (included
                   in Exhibit 5.1)

 24.1              Power of Attorney

----------

* Incorporated by reference to another document on file with the Commission with which such exhibit is physically filed, to be a part hereof as of the date thereof.

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EXHIBIT 4.2

AVX CORPORATION
NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN
AS AMENDED JULY 15, 1999

1. Adoption and Purpose. The AVX Corporation (the "Company") hereby adopts the AVX Corporation Non-Employee Directors' Stock Option Plan (the "Plan") to secure for the Company and its stockholders the benefits of the incentive inherent in increased common stock ownership by the members of the Board of Directors (the "Board") of the Company who are not employees of the Company or any of its subsidiaries (a "Non-Employee Director").

2. Administration. The Plan shall be administered by the Board. The Board shall have all the powers vested in it by the terms of the Plan, such powers to include authority (within the limitations described herein) to prescribe the form of the agreement embodying awards of stock options made under the Plan (the "Options") and the power to determine the restrictions, if any, on the ability of participants to earn-out and to dispose of any stock issued in connection with the exercise of any Options granted pursuant to the Plan.

The Board shall, subject to the provisions of the Plan, have the power to interpret the Plan and to prescribe, amend and rescind rules and regulations for the administration of the Plan as it may deem desirable. Any decisions of the Board in the administration of the Plan, as described herein, shall be final and conclusive. The Board may authorize any one or more of their number (each, a "Director") or the Secretary or any other officer of the Company to execute and deliver documents on behalf of the Board. The Board hereby authorizes the Secretary to execute and deliver all documents to be delivered by the Board pursuant to the Plan. No member of the Board shall be liable for anything done or omitted to be done by such member or by any other member of the Board in connection with the Plan, except for such member's own willful misconduct or as expressly provided by statute.

3. Shares Subject to Plan. The stock which may be issued and sold under the Plan will be the Common Stock (par value $1.00 per share) of the Company. The total amount of stock for which Options may be granted under the Plan shall not exceed 250,000 shares of Common Stock, subject to adjustment as provided in Paragraph 6 below. The stock to be issued may be either authorized and unissued shares or shares held by the Company in its treasury. Shares that by reason of the expiration of an option or otherwise are no longer subject to purchase pursuant to an Option granted under the Plan may be reoffered under the Plan.

4. Participants. Each Non-Employee Director shall be eligible to receive an Option in accordance with Paragraph 5 below.

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5. Terms and Conditions of Options. Each Option granted under the Plan shall be evidenced by an agreement in such form as the Board shall prescribe from time to time in accordance with the Plan, and shall comply with the following terms and conditions:

(a) The Option exercise price shall be the Fair Market Value of the Common Stock shares subject to such Option on the date the Option is granted, which, except as provided in paragraph (b) of this Section, shall be the average of the high and the low sales prices of a share of Common Stock on the date of grant (or, if not a trading day, on the last preceding trading day) as reported on the New York Stock Exchange Composite Transactions Tape or, if not listed on the New York Stock Exchange, the principal stock exchange or the NASDAQ National Market on which the Common Stock is then listed or traded; provided, however, that if the Common Stock is not so listed or traded then the Fair Market Value shall be determined in good faith by the Board.

(b) Each Non-Employee Director serving on the date of the initial public offering of the Common Stock in 1995 and each other Non-Employee Director subsequently elected for the first time shall automatically receive an Option for 7,500 shares of Common Stock (each, an "Initial Option"); provided, however, that the Option price for the Non-Employee Director serving at the date of the initial public offering shall be the public offering price.

(c) Each Non-Employee Director serving on the date of the Annual Meeting of Stockholders of the Company in 1998 shall automatically receive an Option for 7,500 shares of Common Stock (each, a "1998 Grant") as of the first day of the month following such annual meeting. Beginning in the year in which the third anniversary of the 1998 Grant occurs, and in every year in which a subsequent third anniversary occurs, as of the first day of the month following the Annual Meeting of Stockholders of the Company, each Non-Employee Director who is entitled to a 1998 Grant and who has been re-elected as a Non-Employee Director shall automatically receive an additional Option for 7,500 shares of Common Stock in the year in which the third anniversary of his or her Initial Option occurs and in every year in which a subsequent third anniversary of his or her Initial Option occurs provided that he/she has been re-elected as a Non-Employee Director in such year. Such Option shall be granted as of the first day of the month following the Annual Meeting of Stockholders of the Company in such year.

(d) The Option shall not be transferable by the optionee otherwise than by will or the laws of descent and distribution and shall be exercisable during the lifetime of the optionee only by the optionee.

(e) No Option or any part of an Option shall be exercisable:
(i) after the expiration of ten years from the date the Option was granted, (ii) unless written notice of the exercise is delivered to the Company specifying the number of shares to be purchased and payment in full is made for the shares of Common Stock being acquired thereunder at the time of exercise; such payment shall be made (A) in cash or by check, (B) by tendering to the

2

Company Common Stock shares owned by the person exercising the Option and having a Fair Market Value equal to the cash exercise price applicable to such Option, it being understood that the Board shall determine acceptable methods for tendering Common Stock shares and may impose such conditions on the use of Common Stock shares to exercise Options as it deems appropriate, or (C) by a combination of cash or check and Common Stock shares as aforesaid; and (iii) unless the person exercising the Option has been, at all times during the period beginning with the date of grant of the Option and ending on the date of such exercise, a Director of the Company, except that if such person shall cease to be such a Director by reason of Retirement (as defined below), Incapacity (as defined below) or death while holding an Option that has not expired and has not been fully exercised, such person, or in the case of death, the executors, administrators, or distributees, as the case may be, may at any time after the date such person ceased to be such a Director (but in no event after the Option has expired under the provisions of subparagraph 5(e)(i) above) exercise the Option (to the extent exercisable by the Director on the date he ceased to be a Director) with respect to any shares of Common Stock as to which such person has not exercised. If any person who has ceased to be a Director for any reason other than death, shall die holding an Option that has not expired and has not been fully exercised, such person's executors, administrators, or distributees, as the case may be, may exercise the Option (to the extent exercisable by the decedent on his date of death) provided that in no event may the Option be exercised after it has expired pursuant to subparagraph 5(e)(i). In the event any Option is exercised by the executors, administrators, legatees, or distributees of the estate of a deceased optionee, the Company shall be under no obligation to issue stock thereunder unless and until the Company is satisfied that the person or persons exercising the Option are the duly appointed legal representatives of the deceased optionee's estate or the proper legatees or distributees thereof.

(f) One-third of the total number of shares of Common Stock covered by all Options shall become exercisable beginning with the first anniversary date of the grant of the Option; thereafter an additional one-third of the total number of shares of Common Stock covered by the Option shall become exercisable on each subsequent anniversary date of the grant of the Option until on the third anniversary date of the grant of the Option the total number of shares of Common Stock covered by the Option shall become exercisable. The preceding sentence shall apply to Options granted prior to 1998; provided, however that it shall not effect the vesting of any such Option prior to the anniversary date of the grant of such Option occurring in 1998. In the event the Non-Employee Director ceases to be a Director by reason of Retirement, Incapacity or death, the total number of shares of Common Stock covered by the Option shall thereupon become exercisable. Such exercisable options must be exercised prior to the earlier of (i) one year after the date of such Retirement, Incapacity or death and (ii) the date of their original expiration.

(g) Options granted to a person shall automatically be forfeited by such person if such person shall cease to be a Director for reasons other than Retirement, Incapacity or death.

(h) As used in this Paragraph 5, the term "Retirement" means the

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termination of a Director's service on the Board, including resignation from the Board upon reaching retirement age or otherwise resigning or not standing for reelection with the approval of the Board, but shall not include any termination of service resulting from an act of (i) fraud or intentional misrepresentation or (ii) embezzlement, misappropriation or conversion of assets or opportunities of the Company or any direct or indirect majority-owned subsidiary of the Company, by such Director. The determination of whether termination results from any such act shall be made by the Board, whose determination shall be conclusive.

(i) As used in this paragraph 5, the term "Incapacity" means any material physical, mental or other disability rendering the Director incapable of substantially performing his or her services hereunder that is not cured within 180 days of the first occurrence of such incapacity. In the event of any dispute between the Company and the Director as to whether he or she is incapacitated as defined herein, the determination of whether the Director is so incapacitated shall be made by an independent physician selected by the Board and the decision of such physician shall be binding upon the Company and the Director.

6. Adjustment in the Event of Certain Changes in Stock. (a) If there is any change in the number of outstanding shares of Common Stock by reason of any stock dividend, stock split, recapitalization, combination, exchange of shares, merger, consolidation, liquidation, split-up, spin-off or other similar change in capitalization, any distribution to common shareholders, including a rights offering, other than cash dividends, or any like change, then the number of shares of Common Stock available for options, the number of such shares covered by outstanding options, and the price per share of such options shall be proportionately adjusted by the Board to reflect such change or distribution; provided, however, that any fractional shares resulting from such adjustment shall be eliminated.

(b) In the event of change in the Common Stock of the Company as presently constituted, the shares resulting from any such change shall be deemed to be the Common Stock within the meaning of the Plan.

(c) In the event of a reorganization, recapitalization, merger, consolidation, acquisition of property or stock, extraordinary dividend or distribution (other than as covered by Section 6(a) hereof), separation or liquidation of the Company, or any other event similarly affecting the Company, the Board shall have the right, but not the obligation, notwithstanding anything to the contrary in this Plan, to provide that outstanding options granted under this Plan shall (i) be canceled in respect of a cash payment or the payment of securities or property, or any combination thereof, with a per share value determined by the Board in good faith to be equal to the value received by the stockholders of the Company in such event in the respect of each share of Common Stock, with appropriate deductions of exercise prices, or (ii) be adjusted to represent options to receive cash, securities, property, or any combination thereof, with a per share value determined by the Board in good faith to be equal to the value received by the stockholders of the Company in such event in respect of each share of Common Stock, at such exercise prices as the Board in its discretion may determine is appropriate.

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(d) To the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive.

7. Nonexclusive Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders of the Company for approval shall be construed as

creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only in specific cases.

8. Section 16 Persons. Transactions under the Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors under Section 16 of the Securities Exchange Act of 1934 (the "Exchange Act"). To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Committee.

9. Nonassignability. Options may not be transferred other than by will or by the laws of descent and distribution. During a Director's lifetime, options granted to a Director may be exercised only by the Director or by his or her guardian or legal representative.

10. Amendment or Discontinuance. The Plan may be amended or discontinued by the Board without the approval of the stockholders of the Company, except that (a) stockholder approval shall be required for any amendment that would (i) increase (except as provided in Section 6 hereof) the maximum number of shares of Common Stock for which Options may be granted under the Plan, (ii) change the class of persons eligible to participate in the Plan or (iii) adopt any other amendments to the Plan that are considered material for purposes of Rule 16b-3(b) under the Exchange Act and (b) to the extent required by Rule 16b-3 under Section 16 of the Securities Exchange Act of 1934 in effect from time to time, Plan provisions relating to the amount, price and timing of Options shall not be amended more than once every six months, except to comply with changes in the Internal Revenue Code of 1986 or the rules thereunder in effect from time to time. No termination, modification or amendment of the Plan may, without the consent of the Director to whom any Option shall theretofore have been granted, adversely affect the rights of such Director (or his or her transferee) under such Option.

11. Effect of Plan. Neither the adoption of the Plan nor any action of the Board shall be deemed to give any Non-Employee Director any right to be granted an option to purchase Common Stock or any other rights except as may be evidenced by a stock option agreement, or any amendment thereto, duly authorized by the Board and executed on behalf of the Company, and then only to the extent and on the terms and conditions expressly set forth therein.

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12. Term. Unless sooner terminated by action of the Board, this Plan will terminate on August 1, 2005. The Board may not grant Options under the Plan after that date, but Options granted before that date will continue to be effective in accordance with their terms.

13. Effectiveness; Approval of Stockholders. The Plan shall take effect upon its adoption by the Board, but its effectiveness and the exercise of any options shall be subject to the approval of the holders of a majority of the voting shares of the Company, which approval must occur within twelve months after the date on which the Plan is adopted by the Board.

14. Withholding Taxes. If the Board shall so require, as a condition of exercise, each Non-Employee Director shall agree that (a) no later than the date of exercise of any Option, such Non-Employee Director will pay to the Company or make arrangements satisfactory to the Board regarding payment of any Federal, state or local taxes of any kind required by law to be withheld upon the exercise of such option (any such tax, a "Withholding Tax"); and (b) the Company shall, to the extent permitted or required by law, have the right to deduct from any payment of any kind otherwise due to such Non-Employee Director, any such Withholding Tax.

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EXHIBIT 5.1

August 19, 1999

Board of Directors
AVX Corporation
801 17th Avenue South
Myrtle Beach, South Carolina 29577

Dear Sirs:

We are acting as counsel to AVX Corporation, a Delaware corporation (the "Company"), in connection with the preparation, execution, filing and processing with the Securities and Exchange Commission (the "Commission"), pursuant to the Securities Act of 1933, as amended (the "Act"), of a Registration Statement on Form S-8 (the "Registration Statement") relating to the issuance and sale of up to 650,000 additional shares (the "Shares") of common stock, par value $.01 per share (the "Common Stock"), reserved for issuance under the AVX Corporation 1995 Stock Option Plan, as amended July 15, 1999 and the AVX Corporation Non-Employee Directors Stock Option Plan, as amended July 15, 1999 (collectively, the "Plans"), in addition to the 1,650,000 shares of Common Stock reserved under the Plans and previously registered on the Company's Registration Statement on Form S-8 (Registration No. 33-98094) and the 1,100,000 shares of Common Stock reserved under the AVX Corporation 1995 Stock Option Plan and previously registered on the Company's Registration Statement on Form S-8 (Registration No. 333-37201). This opinion is furnished to you for filing with the Commission pursuant to Item 601(b)(5) of Regulation S-K promulgated under the Act.

In our representation of the Company, we have examined and relied upon the accuracy of the matters set forth in the Registration Statement, the Plans, the Company's Restated Certificate of Incorporation and Bylaws, each as amended to date, pertinent actions of the Company's Board of Directors recorded in the Company's minute book, all as provided to us by the Company, pertinent filings by the Company with the Commission under the Act and under the Securities Exchange Act of 1934, as amended, and such other documents as we have considered necessary for purposes of rendering the opinions expressed below.

Based upon the foregoing, we are of the opinion that the Shares proposed to be offered and sold by the Company under the Plans have been duly authorized for issuance and, subject to the Registration Statement becoming effective under the Act and to compliance with any applicable state securities laws and to the issuance of such Shares in accordance with the provisions of the Plans for a consideration at least equal to their par value per share, the Shares


Board of Directors
AVX Corporation
August 19, 1999

Page 2

will be, when so issued, legally issued, fully paid and non-assessable shares of Common Stock of the Company.

The opinions expressed herein are limited to the laws of the General Corporation Law of the State of Delaware and the Act.

We hereby consent to the use of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission promulgated thereunder.

Very truly yours,

                                      /s/ Parker, Poe, Adams & Bernstein L.L.P.
GCI:pjs


Consent of Independent Accountants

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated May 14, 1999 relating to the financial statements, which appears in AVX Corporation's Annual Report on Form 10-K for the year ended March 31, 1999.

PricewaterhouseCoopers LLP

Atlanta, Georgia

August 18, 1999


EXHIBIT 24.1

POWER OF ATTORNEY

Each of the undersigned directors and officers of AVX Corporation, a Delaware corporation (the "Corporation"), hereby severally constitutes and appoints Benedict P. Rosen, John S. Gilbertson and Donald B. Christiansen, and each of them, to be his Attorney-in-Fact with full power of substitution to act in his name on his behalf to sign and to file with the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933 Registration Statements on Form S-8 (the "Registration Statement"), or other appropriate Forms, and any and all amendments to any such Registration Statement, for shares of the Corporation's Common Stock, $.01 par value, and other interests therein issuable under each of the following employee benefit plans: (i) AVX Corporation 1995 Stock Option Plan, (ii) AVX Corporation Non-Employee Directors Stock Option Plan, (iii) AVX Corporation Retirement Plan, (iv) AVX Corporation Stock Bonus Plan, (v) AVX Corporation Deferred Compensation Plan, (vi) AVX Tantalum Corporation Stock Bonus Plan, (vii) AVX Vancouver Corporation Savings and Stock Bonus Plan, (viii) Elco Corporation Retirement Savings Plan, and (ix) Elco Corporation Retirement Savings Plan for Union Employees, and to execute and deliver any agreements, instruments, certificates or other documents which such person shall deem necessary or proper in connection with the filing of any such Registration Statement and generally to act for and in the name of the undersigned with respect to such filing as fully as could the undersigned if then personally present and acting.

IN WITNESS WHEREOF, the undersigned has executed this Power-of-Attorney on the date set opposite his respective name.

                          Signatures                                    Title                                Date
                          ----------                                    -----                                ----
                    /s/ Kazuo Inamori                          Chairman of the Board and               August 31, 1995
-----------------------------------------------                Director
                        Kazuo Inamori

                    /s/ Benedict P. Rosen                      President, Chief Executive              August 31, 1995
-----------------------------------------------                Officer, and Director
                      Benedict P. Rosen                        (Principal Executive Officer)


                    /s/ John S. Gilbertson                     Executive Vice President,               August 31, 1995
-----------------------------------------------                Chief Operating Officer and
                      John S. Gilbertson                       Director

                          Signatures                                    Title                                Date
                          ----------                                    -----                                ----
                  /s/ Donald B. Christiansen                   Chief Financial Officer, Vice           August 31, 1995
-----------------------------------------------                President, Treasurer, and
                    Donald B. Christiansen                     Director (Principal Financial
                                                               and Principal Accounting
                                                               Officer)

                    /s/ Marshall D. Butler                     Director                                August 31, 1995
-----------------------------------------------
                      Marshall D. Butler

                 /s/ Carroll A. Campbell, Jr.                  Director                                August 31, 1995
-----------------------------------------------
                   Carroll A. Campbell, Jr.

                       /s/ Kensuke Itoh                        Director                                August 31, 1995
-----------------------------------------------
                         Kensuke Itoh

                   /s/ Rodney N. Lanthorne                     Director                                August 31, 1995
-----------------------------------------------
                     Rodney N. Lanthorne

                      /s/ Masato Takeda                        Director                                August 31, 1995
-----------------------------------------------
                         Masato Takeda

                     /s/ Masahiro Umemura                      Director                                August 31, 1995
-----------------------------------------------
                       Masahiro Umemura

                     /s/ MasahiroYamamoto                      Director                                August 31, 1995
-----------------------------------------------
                       MasahiroYamamoto

                      /s/ Yuzo Yamamura                        Director                                August 31, 1995
-----------------------------------------------
                        Yuzo Yamamura