DILLARD'S, INC. - Director's Dealing 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 ALEX (Director, President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-08	Common Class A	G	35	$31.4369	Acquired	581692	Direct
2006-12-15	Common Class A	G	1950	$35.52	Disposed	579742	Direct

Security	Shares	Ownership
Dillard's Capital Trust 1 7.5% Capital Securities	20000	Direct
Common Class A - Retirement Plan	61839	Direct
Common Class A	41496	Direct
Common Class B	3985776	Direct
Common Class A	26215	Direct
Common Class A	295014	Direct
Common Class A	36000	Indirect

F1: Col 5 includes 4264 shares of Class A acquired under Rule 16(b)-3(c).

F2: 41,496 Shares by W.D. Company. Reporting person owns 27.93%. This is W.D. Co.'s entire interest.

F3: 3,985,776 Class B Shares by W.D. Company. Reporting person owns 27.93%. This is W.D. Co.'s entire interest.

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

F5: Co-Trustee of WTD Exemption Trust.