Brown Shoe Declares Regular Quarterly Dividend

ST. LOUIS, MISSOURI, March 3, 2005 -- The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) today declared a quarterly dividend of 10 cents per share, payable April 1, 2005 to shareholders of record on March 18, 2005.

This dividend will be the 329th consecutive quarterly dividend paid by the company.

Brown Shoe is a $1.9 billion footwear company with worldwide operations. The Company operates the 900+ store Famous Footwear chain, which sells brand name shoes for the family. It also operates a Specialty Retail division with 360 Naturalizer stores in the U.S. and Canada that sell the Naturalizer brand of shoes and accessories. Brown Shoe, through its Wholesale divisions, owns and markets leading footwear brands including Naturalizer, LifeStride, Connie and Buster Brown; it also markets licensed brands including Dr. Scholl's, Bass and Carlos by Carlos Santana for adults, and Barbie, Winnie-the-Pooh, Mickey and Minnie character footwear for children. Brown Shoe press releases are available on line at www.brownshoe.com.