EXHIBIT 99.1

SOVEREIGN SPECIALTY CHEMICALS, INC. ANNOUNCES $150 MILLION PRIVATE DEBT
OFFERING

CHICAGO, March 10 /PRNewswire/ -- Sovereign Specialty Chemicals, Inc. today
announced that it is proposing to issue $150 million in aggregate principal
amount of senior subordinated notes due 2010 in a private placement to
qualified institutional investors in accordance with Securities Exchange
Commission Rule 144A and outside of the United States in accordance with
Regulation S under the Securities Act of 1933. Sovereign expects the net
proceeds of this offering will be used to refinance existing indebtedness.

The notes have not been registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

Sovereign Specialty Chemicals, Inc. is a leading developer, marketer and
distributor of high-performance specialty adhesives, sealants and coatings
that are utilized in a variety of industrial and commercial applications.
Statements in this press release may include certain forward-looking
statements regarding Sovereign's future plans, sales and earnings growth
potential. Actual results may vary materially because of external factors
such as interest rate fluctuations, changes in consumer spending and other
factors over which management has no control. Additional information about
our products, markets and conditions, which could affect our future
performance, is contained in the Company's filings with the Securities and
Exchange Commission.