EXHIBIT 14
                    CODE OF ETHICS OF MACDERMID, INCORPORATED
The following table contains the Corporation's Code of Ethics.  Additional
related material can be found at the Corporation's official web site
(www.macdermid.com) under Corporate Governance, Policies, Corporate Compliance.
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Ethics Guidelines Summary
ethics: a set of moral principles, values and obligations
Every MacDermid employee must uphold our standards of business conduct and
ethical principles, including all applicable laws and regulations. This
document, in conjunction with our Corporate Philosophy, provides an overview of
our standards and principles.
Diversity / Non-Discrimination
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We will treat all co-workers, customers, suppliers and business relations in an
honest, fair and non-discriminatory manner. We will value diversity, i.e., all
dealings with fellow employees, including hiring and promotional decisions, will
be made without regard to race, color, religion, gender, nationality, age,
marital status, and disabilities.
Confidentiality / Non-Disclosure
--------------------------------

We will safeguard and properly use Company proprietary information, assets, and
resources, as well as those of other organizations entrusted to MacDermid. We
will maintain confidentiality of non-public information and not use such
information for personal gain. Employees with access to MacDermid formulae and
or product application know-how must sign an Employee Agreement as a condition
of employment.
Environmental / Safety and Health
---------------------------------

We will conduct our operations in a manner that will protect the environment and
the safety and health of our employees, customers, suppliers and communities. We
will strive for performance above mere compliance in these areas. (See our
Environmental / Safety and Health Team for further information on our
Responsible Care  and Environmental 2000 initiatives, as well as our other
policies).
Antitrust / International Trade Laws
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Antitrust laws prohibit certain agreements or actions that restrain trade or
reduce competition such as agreements among competitors to fix or control
prices; to boycott specified suppliers or customers; to allocate products,
territories or markets; or to limit production or sale of products. All U.S.
export and re-export laws must be observed.
Reporting Integrity
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All Company reporting, both external and internal, including financial reports,
accounting records, research, sales reports, expense accounts and time sheets,
must accurately and clearly represent the relevant facts and the true nature of
the transaction.
Conflicts of Interest / Gifts
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Employees must avoid any situation that may involve a conflict between their
personal interests and the interests of the Company. Generally, employees should
not accept gifts of over $25.00 in value. If such a gift is received, options
should be discussed with your supervisor or manager. The gift may have to be
returned or turned into the Company for use in charitable events, raffles, etc.
Gifts, favors, and entertainment should be given only if they:
-  are consistent with customary business practices;
-  are not excessive in value;
-  do not violate applicable laws or ethical standards;
-  comply with the recipient's company policies;
-  will not embarrass either company if publicly disclosed; and
-  are submitted on an expense report to the segment V.P. or Regional Managing
Director.
Expenses for reasonable and customary business meals do not require special
approval.
Travel and Entertainment
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Travel and entertainment should be consistent with the needs of business.
Employees are expected to spend the Company's money as carefully as they would
their own.
Employees who become aware of suspected misconduct, discrimination, harassment,
illegal activity, fraud, abuse of Company assets or violations of commonly
accepted ethical standards, such as set forth herein, are responsible for
reporting such matters to their line management, Human Resources, or to
Corporate legal counsel. When in doubt, seek guidance. There will be no
retribution against any employee for making such a report, regardless of the
outcome.