Exhibit 99

 FIVE STAR PRODUCTS, INC. TO ACQUIRE ASSETS OF RIGHT-WAY DEALER WAREHOUSE, INC.

              ... Transaction Scheduled to Close April 13, 2007 ...

            ... Ronald Kampner, Owner of Right-Way, to join Five Star
                      as Senior Vice President of Sales ...


White Plains, New York - March 14, 2007 - Five Star Products, Inc. (OTC Bulletin
Board: FSPX.OB) today announced that it has signed a definitive agreement with
Right-Way Dealer Warehouse, Inc. to acquire substantially all of Right-Way's
assets (with certain exclusions including cash) and the operations of its
Brooklyn Cash & Carry business pursuant to Section 363 of the Bankruptcy Code
for an aggregate purchase price of approximately $5 million in cash subject to
adjustment as provided in the definitive agreement. The transaction, which is
subject to approval by the Bankruptcy Court for the District of Massachusetts,
is scheduled to close on April 13, 2007. Both Five Star, whose annual revenues
were in excess of $100 million in 2006, and Right-Way are distributors of paint
sundries, home decorating and hardware products, primarily in the Northeast
market. Five Star is majority owned by National Patent Development Corporation
(OTC Bulletin Board: NPDV.OB). In addition to the agreement to acquire
Right-Way's assets, at the closing of the asset purchase, Five Star will enter
into a lease of (and a related option to purchase) a warehouse in Brooklyn, New
York at which Right-Way conducts the Brooklyn Cash & Carry business. At the
closing, Five Star will also enter into an employment agreement with Ron
Kampner, the principal of Right-Way. Mr. Kampner will become Five Star's Senior
Vice President of Sales, reporting to Bruce Sherman, CEO of Five Star's
operating subsidiary. A copy of the definitive agreement will be filed with the
United States Securities and Exchange Commission by the Company.

Leslie Flegel, recently appointed Chairman of Five Star, commented, "Right-Way
is an excellent acquisition for Five Star and is the first step in expanding our
footprint in the hardware and paint distribution business on the Eastern
Seaboard. The two companies' product lines and markets complement each other in
a way that should create cost savings and marketing synergies. This will result
in better service for our customer base while improving profits for Five Star
Products. This type of transaction has the double positive effect of allowing us
to become a larger enterprise and at the same time more broad based in our
offerings to our customers. Our management team also benefits from the addition
of Ron Kampner who enjoys an outstanding reputation in the marketplace, and he
and his experienced team are a welcome addition to the Five Star group."

Mr. Kampner commented, "Five Star and Right-Way have long been respected
competitors, sharing the common value of serving the customer first. Now that we
will be together, Bruce Sherman and I concur that the customer is the real
winner in this deal. I look forward to working with Bruce and his operating team
and making that goal a reality."






John Belknap, recently named CEO of Five Star, added, "A particularly exciting
aspect of this acquisition is that it follows so quickly last week's
announcement of Five Star's strengthened leadership and its `aggressive business
plan for expansion'. Ron Kampner is an outstanding addition to the Five Star
team, which is led by Bruce Sherman, our operating CEO."

The Company, as a result of this transaction, expects its revenues for the
twelve months following the close to exceed $130 million and anticipates that
the acquisition will be accretive to Five Star's earnings in 2007.


About Five Star Products, Inc.

Five Star Products, Inc. (OTC Bulletin Board: FSPX.OB), with annual revenues
exceeding $100 million, is engaged in the wholesale distribution of home
decorating, hardware, paint and finishing products in twelve states with
emphasis in the greater New York market. The company distributes products to
approximately 3,500 independent retail dealers, which include lumber yards,
do-it yourself centers, independent hardware stores, and paint stores. The
company distributes a range of private label products sold under the "Five Star"
name. Five Star operates two warehouse facilities, the primary one located in
East Hanover, NJ and another in Newington, CT.


About National Patent Development Corporation

National Patent Development Corporation (OTC Bulletin Board: NPDV.OB) owns
approximately 66% of Five Star Products. In addition, it owns approximately 14%
of Valera Pharmaceuticals, Inc. (NASDAQ: VLRX). In December, 2006, Valera
entered into a merger agreement with Indevus Pharmaceuticals, Inc. (NASDAQ:
IDEV) which is expected to be completed on or around April 30, 2007. National
Patent also owns and operates an optical plastics business through its wholly
owned subsidiary, MXL Industries, Inc., and owns certain real estate.

Safe Harbor Statement

The forward-looking statements contained herein reflect the current views of the
respective managements of Five Star Products, Inc. and National Patent
Development Corporation with respect to future events and financial performance.
These forward-looking statements are subject to certain risks, uncertainties,
assumptions and changes in condition 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 either Five
Star Products or National Patent, including, but not limited to the risks,
uncertainties, assumptions and changes in condition detailed in Five Star
Products' and National Patents' respective periodic reports and registration
statements filed with the Securities and Exchange Commission. There can be no
assurance that acquisition of Right-Way will be consummated or, if consummated,
that it will be on the terms and conditions disclosed.


Contact:
For further information, contact John Belknap at 914.249.9729