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: FREEMAN JAME I (Director, Senior Vice President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-27	Common Class A	G	690	$34.73	Disposed	211759	Direct
2006-12-28	Common Class A	G	34933	$35.08	Disposed	176826	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Class A - Retirement Plan	10169	Direct
Dillard's Capital Trust 1 7.5% Capital Securities	22850	Direct

Footnotes

F1: Col 5 includes 883 shares of Class A acquired under Rule 16(b)-3(c).

F2: Educational Trusts for Children

F3: James I. Freeman Charitable Trust