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Brown Shoe Declares Regular Quarterly Dividend

12/03/2008

The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) declared a quarterly dividend of $0.07 cents per share, payable January 2, 2009 to shareholders of record on December 19, 2008.

This dividend will be the 344th consecutive quarterly dividend paid by the company.

Brown Shoe is a $2.3 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, over 300 specialty retail stores in the U.S., Canada, and China under the Naturalizer, Brown Shoe Closet, FX LaSalle, Franco Sarto and Via Spiga 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, Sam Edelman, Nickels Soft, Connie and Buster Brown; it also markets licensed brands including Franco Sarto, Dr. Scholl's, Etienne Aigner, Carlos by Carlos Santana, 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.

Contact:

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

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