DILLARD'S, INC. — Director's Dealing 2007

Mar 9, 2007

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2007-02-03

Reporting Person: DILLARD WILLIAM T II (Director, CEO, Chairman of Board)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Class A	713605	Direct
Dillard's Capital Trust 1 7.5% Capital Securities	64250	Direct
Common Class A - Retirement Plan	82639	Direct
Common Class A	41496	Direct
Common Class B	3985776	Direct

Footnotes

F1: Total includes 5069 shares of Class A acquired under 401(k) plan Exempt Under Rule 16b-3(c).

F2: 41,496 Shares by W.D. Company. Reporting person owns 27.4%. This is W.D. Co.'s entire interest.

F3: 3,985,776 Class B Shares by W.D. Company. Reporting person owns 27.4%. This is W.D. Co.'s entire interest.