DILLARD'S, INC. — Director's Dealing 2005

Dec 16, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2005-12-15

Reporting Person: NELSON STEVEN K (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-15	Common Class A	M	4896	$23.21	Acquired	35114	Direct
2005-12-15	Common Class A	S	4896	$24.50	Disposed	30218	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-12-15	Employee Stock Option	$23.21	M	4896	Disposed	2005-12-15	Common Class A (4896)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Class A - Retirement Plan	6707	Direct

Footnotes

F1: Col 5 includes 1,063 shares of Class A acquired under Rule 16(b)-3(c).