-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001214659-08-000752.txt : 20080401
<SEC-HEADER>0001214659-08-000752.hdr.sgml : 20080401
<ACCEPTANCE-DATETIME>20080401183752
ACCESSION NUMBER:		0001214659-08-000752
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080331
FILED AS OF DATE:		20080401
DATE AS OF CHANGE:		20080401

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIVE STAR PRODUCTS INC
		CENTRAL INDEX KEY:			0000922408
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES [5070]
		IRS NUMBER:				133729186
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		777 WESTCHESTER AVENUE
		STREET 2:		FOURTH FLOOR
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604
		BUSINESS PHONE:		(914) 249-9700

	MAIL ADDRESS:	
		STREET 1:		777 WESTCHESTER AVENUE
		STREET 2:		FOURTH FLOOR
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SOBOTKO IRA J
		CENTRAL INDEX KEY:			0001407716

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25869
		FILM NUMBER:		08730866

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(646) 742-1600

	MAIL ADDRESS:	
		STREET 1:		FIVE STAR PRODUCTS, INC.
		STREET 2:		10 EAST 40TH STREET, SUITE 3110
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c4181f4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-03-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000922408</issuerCik>
        <issuerName>FIVE STAR PRODUCTS INC</issuerName>
        <issuerTradingSymbol>FSPX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001407716</rptOwnerCik>
            <rptOwnerName>SOBOTKO IRA J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 EAST 40TH STREET, SUITE 3110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP, Finance, Sec. &amp; Treas.</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to purchase common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.78</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-03-31</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>41667</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-03-31</value>
            </exerciseDate>
            <expirationDate>
                <value>2017-07-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>41667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>41667</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">In accordance with the terms of the Stock Option Agreement, dated July 17, 2007, between the Issuer and the Reporting Person,
 these stock options granted to the Reporting Person on July 17, 2007 vested and became exercisable upon the achievement by
 the Issuer of certain EBITDA targets for the fiscal year ended December 31, 2007, which occurred on the date of filing of
 the Issuer's Form 10-K for the fiscal year ending December 31, 2007.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ira J. Sobotko</signatureName>
        <signatureDate>2008-03-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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