Brown Shoe Declares Regular Quarterly Dividend

The Board of Directors of Brown Shoe Company, Inc. (NYSE: BWS) (www.brownshoe.com) declared a quarterly dividend of $0.07 per share, payable July 1, 2011, to shareholders of record on June 17, 2011.

This dividend will be the 354^th consecutive quarterly dividend paid by the company.

About Brown Shoe Company, Inc.

Brown Shoe is a $2.7 billion global footwear company. Brown Shoe’s Retail division operates Famous Footwear, a leading family branded footwear destination with over 1,100 stores nationwide and e-commerce site FamousFootwear.com, approximately 250 specialty retail stores in the U.S., Canada, and China primarily under the Naturalizer brand name, and footwear e-tailer shoes.com. Through its wholesale divisions, Brown Shoe designs and markets leading fashion and athletic footwear brands including Naturalizer, Dr. Scholl's, LifeStride, Sam Edelman, Franco Sarto, Via Spiga, Etienne Aigner, Vera Wang Lavender, Avia, rykä, AND 1, and Buster Brown. Brown Shoe press releases are available on the Company's website at www.brownshoe.com.