BROWN SHOE DECLARES REGULAR QUARTERLY DIVIDEND

ST. LOUIS, MISSOURI, December 4, 2003 -- The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) today declared a quarterly dividend of 10 cents per share, payable January 2, 2004, to shareholders of record on December 19, 2003.

This dividend will be the 324th consecutive quarterly dividend paid by the company.