MAY-18-2009

Valspar Reports Second-Quarter Results

Company Reaffirms FY 2009 Guidance

MINNEAPOLIS, Minn., May 18, 2009 - The Valspar Corporation (NYSE-VAL) today reported its results for the second-quarter ended May 1, 2009. Second-quarter sales totaled $668.4 million, a 20.1 percent decline from the second quarter of 2008. Second-quarter adjusted net income per share was $0.36 in 2009 and $0.41 in 2008, excluding non-cash adjustments of $0.03 per share for Huarun minority interest shares in 2008 and 2009, and a $0.05 per share charge in 2009 related to restructuring actions. Reported net income for the second quarter of 2009 was $31.1 million. Second-quarter reported earnings per share in 2009 were $0.28. Reported net income for the second quarter of 2008 was $40.8 million. Second-quarter reported earnings per share in 2008 were $0.38.

"Despite a very difficult demand environment, we were able to deliver earnings for the quarter consistent with our expectations," said William L. Mansfield, Valspar chairman and chief executive officer. "While we do not expect industrial markets to improve for the balance of the year, the earnings momentum generated by the strong execution and operational discipline of Valspar employees globally gives us confidence in our ability to deliver fiscal year 2009 adjusted net income per share, excluding restructuring charges, in the range of $1.55 to $1.65."

William L. Mansfield and Lori A. Walker, senior 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 12:00 a.m. Central Time May 18th through Midnight on May 29th by dialing 1-800-475-6701 from within the U.S. or 320-365-3844 from outside of the U.S., using access code 998759.

Investor Contact: Tyler Treat, (612) 851-7358

Media Contact: Mike Dougherty, (612) 851-7802