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Brown Shoe Declares Regular Quarterly Dividend

08/27/2008

The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) declared a quarterly dividend of $0.07 cents per share, payable October 1, 2008 to shareholders of record on September 19, 2008.

This dividend will be the 343rd 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 over 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, Hot Kiss, Fergie branded footwear, and Vera Wang Lavender Label Collection 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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