Brown Shoe Announces Tender Offer: 8.75% and Consent Solicitation (BWS)

Brown Shoe Company BWS announced today that it has commenced a cash tender offer for any and all of its $150 million aggregate principal amount of 8 3/4% Senior Notes due 2012. In connection with the Tender Offer, Brown Shoe is soliciting consents to proposed amendments that would, among other things, eliminate most of the restrictive covenants and certain of the events of default contained in the indenture governing the Notes. The Tender Offer and Consent Solicitation are described in the Offer to Purchase and Consent Solicitation Statement dated April 27, 2011. The Offer will expire at 8:00 a.m., New York City Time, on Wednesday, May 25, 2011, unless extended by Brown Shoe in its sole discretion.