AUG-13-2007

Valspar Reports Third Quarter Results

MINNEAPOLIS, Minn., August 13, 2007 - The Valspar Corporation (NYSE-VAL) today reported its results for the third-quarter ended July 27, 2007.

Third-quarter sales totaled $893.5 million, a 12.1 percent increase from the third quarter of 2006. Net income for the third quarter was $58.2 million. Adjusted earnings per share were $0.57 for the quarter, which excludes a non-cash adjustment of $0.05 per share for Huarun minority interest shares. Reported earnings per share were $0.52. In 2006, third-quarter earnings were $52.6 million, or $0.51 per share, which included a $0.01 per share charge for manufacturing rationalization and a net gain of $0.03 per share resulting from certain income tax adjustments.

"This was a solid quarter for Valspar with broad-based contributions from across our product lines," said William L. Mansfield, Valspar president and chief executive officer. "Results were driven by strong sales growth from acquisitions, improved operational efficiency, good performance from our Architectural team in a challenging market and improvement in our Wood business."

"During the third quarter, we began seeing weakness in the U.S. housing sector spill over into related markets in our coatings segment," Mansfield continued. "We are assuming that these market conditions will modestly reduce our operating results in the fourth quarter. Currently, we expect fiscal year 2007 adjusted earnings per share to be approximately $1.80. This estimate excludes any non-cash adjustment for the minority interest shares and includes anticipated benefits from non-operating items. We expect the positive momentum from acquisitions, productivity initiatives and the improved performance of our Architectural and Wood businesses to continue in the fourth quarter."

Mansfield concluded, "We are delivering on our long-term growth strategy. Our global presence is expanding, our acquisitions are performing well, we continue to drive operational excellence and our investments in building Valspar brands are contributing to sales growth."

William L. Mansfield and Paul C. Reyelts, executive vice president and chief financial officer, will conduct a conference call for investors at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) today. The call can be heard live over the Internet at Valspar's website at www.ValsparGlobal.com under Investor Relations. Those unable to participate during the live broadcast can access an archive of the call on the Valspar website. A taped delay of the call will also be available from 1:30 p.m. Central Time August 13 through Midnight on August 27 by dialing 1-800-475-6701 from within the U.S. or 320-365-3844 from outside of the U.S., using access code 882401.

Investor Contact: Lori A. Walker, (612) 375-7350
Media Contact: Mike Dougherty, (612) 375-7802

The Valspar Corporation (NYSE:VAL) is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry. For more information, visit www.valsparglobal.com.