Ocean Bio-Chem, Inc. Reports Financial Results for Year Ending December 31, 2001; Achieves $.03 Per Share Earnings On Record Revenues

    FORT LAUDERDALE, Fla.--March 13, 2002--Ocean Bio-Chem, Inc. today reported net earnings of $.03 per share (fully-diluted) for the year ending December 31, 2001 versus a net loss of ($.06) for the previous year ending on December 31, 2000. Gross sales, ending December 31, 2001 increased approximately $1.8 million or 10% to $19,876,095 compared to $18,072,784 for the comparable period in 2000. Company management attributed the gain to a general decrease in overall operating expenses combined with increased revenues associated mainly with the Company's new automotive product line.

Year Ending December 31,                 2001              2000
    
     Gross Sales                     $19,876,095       $18,072,784
     Net Income (loss)               $   106,384       $  (244,823)
     Avg. Shares (fully-diluted)       4,169,870         4,058,657
         Earnings Per Share (loss)   $       .03       $      (.06)

    Ocean Bio-Chem President and CEO Peter Dornau commented, "Last year we reported a loss which we described as unavoidable and necessary. We stated that expenditures associated with the loss were helping to position us for future growth. Although we made no predictions, our goal for 2001 was to build upon the foundation we laid. We are pleased to report that for the year 2001 we have achieved the highest revenues yet in the Company's twenty-one year operating history and we are once again profitable. Both of these achievements were made possible by our efforts to improve operational efficiency and manufacturing capability. As we look to the 2002 year, we anticipate continuing growth in revenues and profitability. In the fourth quarter of last year we released information detailing potential 2002 revenues associated with our oil products line. These potential revenues, if achieved, would on their own add an additional ten-percent to 2001 sales. Although we can offer no guarantee of the future, we believe the stage is set for a banner year with record revenues and profit growth."

    About Ocean Bio-Chem

    Ocean Bio-Chem, Inc. manufactures and markets a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the Starbrite(TM) name. The Company trades publicly under Nasdaq SmallCap Ticker Symbol: OBCI. The Company's web site is: www.oceanbiochem.com.

    NOTE: The foregoing is news relating to Ocean Bio-Chem, Inc. (OBCI or "the Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For more detailed information the reader is referred to the Company's 10-K and other documents filed with the United States Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing, the Company or its subsidiaries and is meant purely for informational purposes.