CALERES INC — Director's Dealing 2004

Mar 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2004-03-04

Reporting Person: OBERLANDER MICHAEL I (VP, General Counsel & Corp.Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-04	Common Stock	A	1000	—	Acquired	6780	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-04	Employee Stock Option (right to buy)	$39.01	A	5000	Acquired	2014-03-04	Common Stock (5000)	Direct

Footnotes

F1: Includes 780 shares held indirectly by 401(k) Plan

F2: The option becomes exercisable in 4 equal annual installments beginning 3/4/05.