CALERES INC — Director's Dealing 2007

Aug 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2007-08-01

Reporting Person: FROMM RONALD A (Director, Chairman of the Board & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-01	Common Stock	M	15000	$4.7639	Acquired	418154	Direct
2007-08-01	Common Stock	S	500	$20.48	Disposed	417654	Direct
2007-08-01	Common Stock	S	900	$20.47	Disposed	416754	Direct
2007-08-01	Common Stock	S	1100	$20.46	Disposed	415654	Direct
2007-08-01	Common Stock	S	956	$20.45	Disposed	414698	Direct
2007-08-01	Common Stock	S	800	$20.44	Disposed	413898	Direct
2007-08-01	Common Stock	S	944	$20.43	Disposed	412954	Direct
2007-08-01	Common Stock	S	500	$20.42	Disposed	412454	Direct
2007-08-01	Common Stock	S	1900	$20.41	Disposed	410554	Direct
2007-08-01	Common Stock	S	6000	$20.4	Disposed	404554	Direct
2007-08-01	Common Stock	S	500	$20.38	Disposed	404054	Direct
2007-08-01	Common Stock	S	200	$20.37	Disposed	403854	Direct
2007-08-01	Common Stock	S	300	$20.36	Disposed	403554	Direct
2007-08-01	Common Stock	S	400	$20.34	Disposed	403154	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-01	Employee Stock Option (Right to Buy)	$4.7639	M	15000	Disposed	2010-03-02	Common Stock (15000)	Direct

Footnotes

F1: Includes 12,251 shares held indirectly by the 401(k) Plan.

F2: The options vested in four equal installments on March 2, 2001, 2002, 2003, and 2004.