Ocean Bio-Chem Reports Profit For First Six Months of 2001

    FORT LAUDERDALE, Fla.--Aug. 16, 2001--Ocean Bio-Chem, Inc. 2nd Quarter net income for the three month period ended June 30, 2001 increased to $337,727 or $.09 per share versus $42,533 or $.01 per share for the comparable period in the previous year. For both six-month periods ended June 30, 2001 and 2000, the Company reported a net income of $.01 per share. Gross sales increased approximately 22% for the 2001 2nd quarter and approximately 10% for the six-month period ended June 30, 2001 compared to the same respective periods in 2000.

                                       Three-months ending June 30,
                                        2001                 2000
                                        ----                 ----
Net Sales                           $4,613,309           $3,715,067
Net income                             337,727               43,533
Earnings per share                   $    .09             $    .01

Avg. Shares (fully diluted)          4,114,037            4,011,426


                                        Six-months ending June 30,    
                                        2001                 2000
                                        ----                 ----
Net Sales                           $7,846,515           $6,987,199
Net income                              28,253               33,368
Earnings per share                   $    .01             $    .01

Avg. Shares (fully diluted)          4,114,037            4,011,426

    Ocean Bio-Chem President and CEO Peter Dornau stated, "We are very pleased to report a profit through the six-months ended June 30, 2001. Our Automotive fluids line sales are beginning to flow and this results in an improved utilization of the Kinpak manufacturing facility. As we build our Automotive sales and customer base, we will eventually more than just absorb the overhead associated with our newly expanded manufacturing facility. Earlier this year, we stated our belief that our investment towards increasing capacity and improving response capabilities with respect to customer satisfaction would enable us to grow and compete more so than ever before. We firmly believe that the quarter just completed supports this belief and places us on the track for a solid year of progress and profitability."