DEC-06-2006

Valspar Declares Dividend

MINNEAPOLIS, December 6, 2006 - The Valspar Corporation (NYSE - VAL), a leading global coatings company, announced today that the Board of Directors at its meeting on December 6, 2006 declared a quarterly dividend of 13¢ per share, payable January 12, 2007 to all common stockholders of record on December 29, 2006. This 13¢ dividend represents a 2¢, or approximately 18%, increase over the dividend in effect for the past four quarters.

Valspar is a global leader in the paint and coatings industry, with a broad range of products including industrial, architectural, packaging, automotive refinish and floor coatings, and specialty polymers and colorants.

Valspar shares are traded on the New York Stock Exchange under the symbol VAL. Valspar news releases and other investor information are available on the Internet at www.valspar.com.

Contact: Lori A. Walker, Vice President, Treasurer and Controller
The Valspar Corporation
(612) 375-7350