8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT
                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

         Date of report (Date of earliest event reported) April 4, 2007
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                     NATIONAL PATENT DEVELOPMENT CORPORATION
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               (Exact Name of Registrant as Specified in Charter)

         Delaware                        333-118568              13-4005439
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(State or Other Jurisdiction of    (Commission File Number)  (IRS Employer
         Incorporation)                                   Identification Number)

777 Westchester Avenue, White Plains, New York                   10604
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(Address of Principal Executive Offices)                      (Zip Code)

          Registrant's telephone number, including area code   (914) 249-9700


                                 Not Applicable
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          (Former Name or Former Address, if Changed Since Last Report)


           Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

         Written communications pursuant to Rule 425 under the Securities Act
         (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the
         Exchange Act (17 CFR 240.14a-12) Pre-commencement communications
         pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
         Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4(c))





Item 2.02     Results of Operations of Financial Condition.

On April 4, 2007, Five Star Products, Inc., a majority owned subsidiary of
National Patent Development Corporation, issued a press release reporting
earnings and other financial results for its fourth quarter and 12 months ended
December 31, 2006 and the approval on April 3, 2007 by the U.S. Bankruptcy Court
for the District of Massachusetts of Five Star's acquisition of substantially
all the assets of Right-Way Distributor Warehouse, Inc. A copy of the press
release is attached and is being furnished as Exhibit 99.

Item 9.01.    Financial Statements and Exhibits.

        (d)   Exhibits.

              99 Press Release of Five Star Products, Inc., dated April 4, 2007







                                             SIGNATURES



        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                        NATIONAL PATENT DEVELOPMENT CORPORATION


Date:    April 4, 2007                  John Belknap
                                        Vice President






                                  EXHIBIT INDEX



Exhibit No.                   Title



   99           Press Release of Five Star Products, Inc. dated April 4, 2007

EX-99

                                                                Exhibit 99


         Five Star Products, Inc. Reports Record Sales for Fiscal Year;
                 Operating Income Increases 76% to $2.1 million

    Court approves Five Star acquisition of Right-Way Dealer Warehouse, Inc.

New York, NY, April 4, 2007 - Five Star Products, Inc. (OTC Bulletin Board:
FSPX.OB), a leading distributor of paint sundry and hardware products in the
Northeast, today announced results for the fiscal year ended December 31, 2006.
The Company reported net income for the year ended December 31, 2006 of $285,000
($.02 per share basic and fully diluted), an improvement of $572,000 as compared
to the net loss of $287,000 ($.02 loss per share basic and fully diluted) for
the year ended December 31, 2005.

Sales for the year ended December 31, 2006 were $108,088,000 compared to
$106,451,000 for the year ended December 31, 2005. Operating income was
$2,111,000 for the year ended December 31, 2006 compared to $1,200,000 for the
year ended December 31, 2005, an increase of 76%.

Leslie Flegel, Five Star Chairman, said, "Following on the heels of fiscal year
2006's improved results, 2007 also has gotten off to an excellent start. If the
momentum continues, we should be on our way to another much improved year."

Five Star also announced that the U.S. Bankruptcy Court for the District of
Massachusetts on April 3, 2007 approved the sale to Five Star of substantially
all of the assets and the assumption of certain of the liabilities of Right-Way
Dealer Warehouse, Inc. Five Star first disclosed the transaction in a press
release dated March 14, 2007. The closing of the transaction is scheduled to
occur later this week and is subject to certain conditions. No assurance can be
given, nor is any provided, that the transaction will close or will close as
scheduled.

About Five Star Products, Inc.

Five Star Products, Inc. (OTC Bulletin Board: FSPX.OB) 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 3,000 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. Five Star
is a majority owned subsidiary of National Patent Development Corporation (OTC
Bulletin Board: NPDV.OB).




About National Patent Development Corporation

National Patent Development Corporation owns approximately 64% of Five Star
Products. In addition, it owns approximately 14% of Valera Pharmaceuticals, Inc.
(NASDAQ: VLRX - News). In December, 2006, Valera entered into a merger agreement
with Indevus Pharmaceuticals, Inc. (NASDAQ: IDEV - News) 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 the acquisition of Right-Way will be consummated or, if
consummated, that it will be on the terms and conditions disclosed.

Contact:
Five Star Products, Inc.
John Belknap, 914.249.9729