CALERES INC — Director's Dealing 2007

Dec 7, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-12-05

Reporting Person: Caro Joseph (SVP & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-05	Common Stock	A	5000	$17.185	Acquired	5000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-05	Employee Stock Option (right to buy)	$17.185	A	7500	Acquired	2017-12-05	Common Stock (7500)	Direct

Footnotes

F1: Restricted stock vests 100% after 4 years

F2: The options become exercisable in four equal installments beginning December 5, 2008.