CALERES INC — Director's Dealing 2006

Jun 30, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2006-06-27

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

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	36475	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$10.6033	2012-01-02	Common Stock (5945)		Direct
Employee Stock Option (Right to Buy)	$17.05	2013-03-06	Common Stock (3750)		Direct
Employee Stock Option (Right to Buy)	$26.0067	2014-03-04	Common Stock (11250)		Direct
Employee Stock Option (Right to Buy)	$22.37	2015-03-03	Common Stock (11251)		Direct
Employee Stock Option (Right to Buy)	$31.8033	2016-03-02	Common Stock (4500)		Direct

Footnotes

F1: Includes 833 shares held indirectly by the 401(k) Plan.

F2: The option vested in four equal installments on January 2, 2003, 2004, 2005 and 2006.

F3: The option vests in four equal installments on March 6, 2004, 2005, 2006 and 2007.

F4: The option vests in four equal installments on March 4, 2005, 2006, 2007 and 2008.

F5: The option vests in four equal installments on March 3, 2006, 2007, 2008 and 2009.

F6: The option vests in four equal installments on March 2, 2007, 2008, 2009 and 2010.