Brown Shoe Declares Regular Quarterly Dividend

ST. LOUIS, MISSOURI, May 22, 2003 -- The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) today declared a quarterly dividend of 10 cents per share, payable July 1, 2003, to shareholders of record on June 3, 2003.

This dividend will be the 322nd consecutive quarterly dividend paid by the company.