MINNEAPOLIS – The Board of Directors of Valspar Corp. has authorized the repurchase of 15 million shares of outstanding common stock. The new authorization is effective immediately, does not expire and replaces the authorization approved in October 2009.

Shares may be purchased at management's discretion in market transactions or negotiated private purchases. Depending on market conditions and other factors, these repurchases may commence or cease from time to time without prior notice. As of October 12, 2010, the company had 97,969,277 common shares outstanding.