OCT-17-2007

Valspar Renews Share Repurchase Authorization

MINNEAPOLIS, Minn., October 17, 2007 - The Valspar Corporation (NYSE-VAL) announced today that its Board of Directors authorized the repurchase of up to 4,000,000 shares, or 4.0%, of its outstanding common stock over the next 12 months. The authorization gives management discretion in determining conditions under which shares may be purchased from time to time, either in market transactions or negotiated private purchases. The repurchase authorization is a renewal of previous annual authorizations and replaces the authorization approved in October 2006, under which 2,596,300 shares were repurchased. As of October 16, 2007, the company had 100,611,950 common shares outstanding.."

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.