Ocean Bio-Chem Posts Increased Profit for Six-Months Ending June 30, 2002; Five-fold Earnings Per Share Increase

    FORT LAUDERDALE, Fla.--Aug. 13, 2002--Ocean Bio-Chem, Inc. today reported net income for its 2nd Quarter or three-month period ending June 30, 2002 of $ .03 per share versus $.09 per share for the same period in 2001. For the six-month periods ended June 30, 2002 and comparable period ending June 30, 2001, the Company reported net earnings of $.05 per share for 2002 versus net earnings of $ .01 per share for the comparable six-month period in 2001. Gross Sales for the 2002 2nd Quarter were $4,674,323, versus $5,033,602 for the 2001 2nd Quarter. For the six-month period of 2002, Gross Sales grew approximately 4% or $350,960 to $8,929,309 for the six-month period of 2002 versus $8,578.349 for the comparable six-month period in 2001.

       Three-months ending June 30            2002        2001
Net Sales                                  $4,674,323  $5,033,602
Net income                                   $138,870    $337,727
Earnings per share                              $ .03        $.09
Average Shares Outstanding (fully diluted)  4,296,870   4,114,037


       Six-months ending June 30              2002        2001
Net Sales                                  $8,929,309  $8,578,349
Net income                                   $195,813     $28,253
Earnings per share                              $ .05       $ .01
Average Shares Outstanding (fully diluted)  4,296,870   4,114,037

    Ocean Bio-Chem President and CEO Peter Dornau stated, "We have now posted five consecutive quarters of profitability. Gross sales for the first six-months of 2002 increased approximately $351,000 over 2001's record revenues. Earnings performance improved five-fold to $.05 per share in 2002 versus $.01 per share for 2001. We continue to envision solid revenue growth for 2002 and believe that we are on track for increased earnings well above our previous year."

    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 Symbol: OBCI. 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.