APR-09-2007

Valspar Updates Second-Quarter Earnings Outlook

MINNEAPOLIS, MN, April 9, 2007 - The Valspar Corporation (NYSE-VAL) announced today that it expects diluted earnings for the second quarter ending April 27, 2007 to be in the range of 36 to 40 cents per share, compared to earnings of 46 cents per share in the second quarter of 2006. This guidance excludes any adjustments for Huarun minority interest shares as discussed in the company's March 7, 2007 press release.

The company noted that second-quarter sales and profits are being impacted by continued soft demand in the company's architectural paints and wood coatings product lines. In its February 12, 2007 press release, the company stated "While we anticipate another quarter of difficult comparison with last year's strong first-half performance, we continue to expect Valspar's fiscal 2007 earnings per share to be in the range of $1.80-$1.90." The company now expects its earnings for the year to be at the low end of this range.

"We are successfully managing through current challenges in our architectural paints and wood coatings product lines," said William L. Mansfield, Valspar president and chief executive officer. "Importantly, the performance of our other businesses is meeting expectations, our Fuller and Huarun acquisitions are performing well, and our manufacturing rationalization and productivity improvement efforts are delivering solid results. We remain on track to achieve our long-term growth objectives, particularly through continued global expansion, additional strategic acquisitions, building the Valspar premium paint brand and driving productivity improvement."

Investor Contact: Lori A. Walker, (612) 375-7350

Media Contact: Mike Dougherty, (612) 375-7802

Note: William L. Mansfield and Paul C. Reyelts, executive vice president and chief financial officer, will host a conference call at 5:30 p.m. Eastern Time (4:30 p.m. Central Time) today, Monday, April 9. The call can be heard live over the Internet at Valspar's website at http://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 replay of the call will also be available from 8:00 p.m. Central Time April 9 through midnight on April 23 by dialing 1-800-475-6701 from within the U.S. or 320-365-3844 from outside the U.S., using access code 870049.

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.