ST. LOUIS, September 6, 2006 – Brown Shoe Company, Inc. (NYSE: BWS, www.brownshoe.com) announced today that it has entered into a licensing agreement with Eastman Group for men’s footwear under the Via Spiga brand.

The two companies are collaborating to build and bring to market a line of men’s dress and casual shoes, incorporating Via Spiga’s heritage of pure Italian design and materials.

“Eastman’s expertise in producing great footwear, combined with Brown Shoe’s strength in marketing and brand building, will help ensure we deliver shoes consumers love,” said Max M. Mizrachi, President of Eastman Group. “Fashion-savvy men know Via Spiga for its sophisticated design and styling, which makes the brand a terrific partner.”

The first collection under license will debut in December during the Fashion Footwear Association of New York (FFANY) shoe show, and is slated for spring 2007 availability to consumers in department and specialty stores. Retail prices will range from $195 to $295.

“Our partnership with Eastman will enable us to more effectively reach the men’s footwear consumer while still offering the trend-right fashion that is so important to them,” said Margie Connelly, Vice President-Licensing for Brown Shoe.

In addition to men’s shoes, Via Spiga also has licensing agreements in place for women’s handbags, outerwear, hosiery, belts and eyewear.

Brown Shoe is a $2.3 billion footwear company with global operations. The Company operates the 950+ store Famous Footwear chain, which sells brand name shoes for the family. It also operates 300+ specialty retail stores in the U.S. and Canada under the Naturalizer, FX LaSalle and Via Spiga names, and Shoes.com, the Company’s e-commerce subsidiary. Brown Shoe, through its Wholesale divisions, owns and markets leading footwear brands including Naturalizer, LifeStride, Via Spiga, Nickels Soft, Connie and Buster Brown; it also markets licensed brands including Franco Sarto, Dr. Scholl's, Etienne Aigner, Bass and Carlos by Carlos Santana for adults, and Barbie, Disney and Nickelodeon character footwear for children. Brown Shoe press releases are available on the Company's web site at www.brownshoe.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain forward-looking statements. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These include (i) general economic conditions and the consumer’s preferences and purchasing patterns, which may be influenced by consumers' disposable income; (ii) the uncertainties of currently pending litigation; (iii) intense competition within the footwear industry; and (iv) political and economic conditions or other threats to continued and uninterrupted flow of inventory from Brazil and China, where the Company relies heavily on third-party manufacturing facilities for a significant amount of its inventory. The Company's reports to the Securities and Exchange Commission contain detailed information relating to such factors. The Company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change.