CALERES INC — Director's Dealing 2006

Aug 23, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-08-22

Reporting Person: Ausick Richard M (President, Bennett Footwear)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-22	Common Stock	A	5000	—	Acquired	41475	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-22	Employee Stock Option (right to buy)	$32.12	A	5000	Acquired	2016-08-22	Common Stock (5000)	Direct

Footnotes

F1: Restricted stock vests 100% after 4 years.

F2: Includes 833 shares held indirectly by the 401(k) Plan.

F3: The options become exercisable in 4 equal installments beginning 8/22/2007.