CALERES INC — Director's Dealing 2006

Dec 7, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-12-06

Reporting Person: HOOD MARK E (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-06	Common Stock	A	5000	—	Acquired	5000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-06	Employee Stock Option (Right to Buy)	$49.365	A	10000	Acquired	2016-12-06	Common Stock (10000)	Direct

Footnotes

F1: Restricted stock vests 100% after 4 years.

F2: The options become exercisable in four equal installments beginning 12/6/2007.