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Brown Shoe Declares Regular Quarterly Dividend

05/22/2008

The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) today declared a quarterly dividend of $0.07 cents per share, payable July 1, 2008 to shareholders of record on June 20, 2008.

This dividend will be the 342nd consecutive quarterly dividend paid by the company.

Brown Shoe is a $2.4 billion footwear company with global operations. Brown Shoe's Retail division operates Famous Footwear, the approximately 1,100-store chain that sells brand name shoes for the family, approximately 300 specialty retail stores in the U.S., Canada, and China under the Naturalizer, Brown Shoe Closet, FX LaSalle, and Franco Sarto names, and Shoes.com, the Company's e-commerce subsidiary. Brown Shoe, through its Wholesale divisions, owns and markets leading footwear brands including Naturalizer, LifeStride, Via Spiga, Nickels Soft, Connie and Buster Brown; it also markets licensed brands including Franco Sarto, Dr. Scholl's, Etienne Aigner, Carlos by Carlos Santana and Hot Kiss as well as Barbie, Disney and Nickelodeon character footwear for children. Brown Shoe press releases are available on the Company's website at http://www.brownshoe.com.

Web site: http://www.brownshoe.com

Contact:

Ken Golden, Investor Relations of Brown Shoe Company, Inc.
+1-314-854-4134
kgolden@brownshoe.com

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