CALERES INC — Director's Dealing 2005

Mar 7, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2005-03-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-03	Common Stock	A	2870	$33.555	Acquired	9855	Direct
2005-03-03	Common Stock	F	1109	$33.555	Disposed	8746	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-03	Employee Stock Option (right to buy)	$33.555	A	5000	Acquired	2015-03-03	Common Stock (5000)	Direct

Footnotes

F1: Includes 985 shares held indirectly by the 401(k) Plan.

F2: The options become exercisable in 4 equal annual installments beginning 3/3/06.