the slotted backing boards 11 include a rear face 15 a molding receiving face 17 and a slotted portion 19 the rear face 15 is designed to be attached to the wall surface 6 preferably double sided tape 21 is used so that the tape can be first applied to the surface 15 and then applied to the wall 6 of course the reverse order could also be used for installing the backing boards other means for securing the boards 11 to a wall can also be utilized as are known in the art the slotted portion 19 includes a lip 23 the slotted portion 19 is sized to receive a terminal end of the panel 1 with the lip 23 acting as a retainer to keep the panel 1 in place for further installation once the backing boards 11 are attached to the wall and the panels 1 secured thereto the top and bottom moldings 5 and 7 respectively can be attached to the backing boards at face 17 the moldings 5 and 7 can be attached to the backing boards in any conventional fashion such as using adhesives or fasteners it is preferred when using fasteners that the fasteners only penetrate into the backing boards 11 and not into the wall surface 6 with fasteners of this size the backing boards 11 can be removed from the wall surface with the panel system intact for use in another location referring now to fig3 the wall panel system also includes a plurality of mounting boards 25 which are attached to the wall 6 in the same manner as the slotted backing boards 11 in fig3 a double sided tape 21 is shown for attachment purposes when installing the wall.