DILLARD'S, INC. — Director's Dealing 2006

Mar 9, 2006

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2006-01-28

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

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Class A	402954	Direct
Common Class A - Retirement Plan	23727	Direct
Dillard's Capital Trust 1 7.5% Capital Securities	3885	Direct
Common Class A	41496	Direct
Common Class B	3985776	Direct
Common Class A	295014	Direct
Common Class A	26215	Direct

Footnotes

F1: Col 5 includes 1665 shares of Class A acquired under Rule 16(b)-3(c).

F2: 41,496 Class A Shares by W.D. Company. Reporting person owns 26.27%. This is W.D. Co.'s entire interest.

F3: 3,985,776 Class B Shares by W.D. Company. Reporting person owns 26.27%. This is W.D. Co.'s entire interest.

F4: Co-Trustee and co-beneficiary of WTD Exemption Trust.

F5: Co-Trustee in WDT Exemption Trust.