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

May 13, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2003-05-09

Reporting Person: DILLARD MIKE (Director, Executive Vice President, 10% Owner)

Footnotes

F1: Dillard's Capital Trust 1 7.5% Cap Securities 3,885 Shares Direct

F2: Common Class A 21,874 Shares Retirement Plan

F3: Common Class A 41,496 Shares By W.D Company Owns 26.28% interest in W.D. Co

F4: Common Class B 3,985,776 Shares By W.D. Company Owns 26.28% iinterest in W.D. Co

F5: Common Class A 335 Shares By Spouse