DILLARD'S, INC. — Director's Dealing 2003

Dec 8, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2003-12-05

Reporting Person: BURNETT G KENT (VP, President Phoenix Div)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-05-09	Common Class A	G	1500	—	Disposed	76501	Direct
2003-05-14	Common Class A	G	2100	—	Disposed	74401	Direct
2003-12-05	Common Class A	S	15000	$15.4083	Disposed	59401	Direct
2003-12-05	Common Class A	S	10000	$15.4569	Disposed	49401	Direct
2003-12-05	Common Class A	S	10000	$15.5562	Disposed	40816	Direct

Footnotes

F1: 16,926 shares Class A Retirement Plan

F2: Total includes 1,415 shares of Class A acquired under 401(K) Plan Exempt under Rule 16-b-3(c).

F3: Gift