June 26, 2006 at 18:16 PM EDT
Five Star Products Announces Termination of Discussions to Sell Company

Five Star Products, Inc. (OTCBB: FSPX), a paint and hardware distribution company, today announced that it and National Patent Development Corporation (OTCBB: NPDV), which owns approximately 64% of the Company's outstanding Common Stock, had terminated discussions with FLJ Partners, LLC with respect to a series of transactions that, if consummated, would have resulted in the Company becoming a wholly owned subsidiary of FLJ. The discussions were terminated by the Company and National Patent as a result of the inability of the parties to agree to proceed with the transactions.

The forward-looking statements contained herein reflect Five Star's management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of Five Star, including, but not limited to the risks and uncertainties detailed in Five Star's periodic reports and registration statements filed with the Securities and Exchange Commission.

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