Wolverine Third Quarter Sales Climb 7%; Increases Full-Year Guidance

Wolverine World Wide third quarter 2005 revenue totaled $279.1 million, a 7.0% increase over third quarter 2004 revenue of $260.9 million. Earnings per share for the third quarter of 2005 were 42 cents compared to 37 cents reported for the third quarter of 2004, an increase of 13.5%.

“We are pleased to have achieved another quarter of exceptional results,” stated Timothy J. O'Donovan, the Company's Chairman and CEO. “This quarter's record performance reflects our successful global strategy which is focused on a strong portfolio of consumer brands. Three of our major operating groups, the Hush Puppies Company, the Heritage Group and the Outdoor Group all posted double-digit earnings gains, and the Wolverine Footwear Group matched its third quarter 2004 performance. Our International businesses contributed significantly to the quarter's revenue growth, reporting nearly a 17 percent increase.”

“Our business model continues to generate strong results, as evidenced by our earnings per share leverage,” stated the Company's CFO, Stephen L. Gulis Jr. “We continued to achieve solid gross margin expansion in the quarter while increasing marketing support for our brands and funding new growth initiatives. The Company's investment in new growth initiatives will accelerate in the fourth quarter of 2005 with additional spending of $1.5 million (nearly $0.02 per share).”

Mr. O'Donovan continued, “With strong third quarter results and an order backlog increase of approximately 19 percent, we are increasing the Company's 2005 earnings per share estimate. We now expect earnings per share to range from $1.26 to $1.28. We have also focused our 2005 revenue range from $1.050 to $1.060 billion. The earnings per share estimate does not include any impact from the potential repatriation of foreign earnings under the American Jobs Creation Act of 2004 which the Company is currently evaluating.

“We have begun our 2006 planning process and our initial estimates are for revenue to range from $1.110 to $1.130 billion and earnings per share to range from $1.38 to $1.44. The earnings per share estimate for 2006 includes expenditures of approximately $4.5 million ($0.05 per share) to fund new growth initiatives. One key initiative is to accelerate the strong double- digit growth of the Merrell brand through the development of a Merrell apparel program to meet the demand from our global customers. Merrell apparel will be introduced for the Fall 2007 season. Another initiative is the Patagonia footwear program which we will bring to market in Spring 2007. These 2006 estimates are in line with our stated long-term financial objectives of annually growing revenue in the mid to upper single-digit range and generating double-digit earnings per share growth. The earnings per share estimate excludes the impact of FASB123® share-based payments.”

Mr. O'Donovan concluded, “We are pleased with the Company's performance. Our brands are resonating with consumers around the world, and we have a number of growth initiatives in place to support our long term expansion. Our intense focus and execution skills have resulted in a track record of superior performance for our Company, and we are confident that our brand portfolio and growth initiatives will result in continued success, rewarding our shareholders in the near and long term.”

                          WOLVERINE WORLD WIDE, INC.

                    CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (Unaudited)
                  ($000's, except share and per share data)

                              12 Weeks Ended            36 Weeks Ended
                       September 10, September 11, September 10, September 11,
                            2005         2004         2005          2004

    Revenue               $279,116     $260,897     $739,997     $684,541
    Cost of products sold  170,455      162,720      450,476      425,410
        Gross profit       108,661       98,177      289,521      259,131

    Selling and
     administrative
     expenses               72,087       65,188      208,487      189,842
        Operating profit    36,574       32,989       81,034       69,289

    Interest expense           293          667        1,292        2,495
    Other expense (income)    (158)         (88)        (172)         157
                               135          579        1,120        2,652
        Earnings before
         income taxes and
         minority interest  36,439       32,410       79,914       66,637
    Income taxes            11,805       10,329       25,891       21,289

        Earnings before
         minority interest  24,634       22,081       54,023       45,348
    Minority interest            -          135            -          119

        Net earnings       $24,634      $21,946      $54,023      $45,229

    Diluted earnings per
     share                    $.42         $.37         $.91         $.75