Brown Shoe Declares Regular Quarterly Dividend

ST. LOUIS, MISSOURI, December 1, 2005 -- The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) has declared a quarterly dividend of 10 cents per share, payable January 2, 2006, to shareholders of record on December 21, 2005.

This dividend will be the 332nd consecutive quarterly dividend paid by the company.

Brown Shoe is a $2.3 billion footwear company with global operations. The Company operates the 900+ store Famous Footwear chain, which sells brand name shoes for the family. It also operates 350+ Naturalizer stores in the U.S. and Canada that sell the Naturalizer brand of shoes and accessories, 16 FX LaSalle stores in Canada, and 8 Via Spiga stores that sell Via Spiga shoes and apparel. 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, Bob-the-Builder and Disney character footwear for children. Brown Shoe press releases are available on the Company's web site at http://www.brownshoe.com.