Ocean Bio-Chem Reports Profit for Nine-Months Ending September 30, 2003; Net Earnings per Share for the 3rd Quarter Set New All-time Record

FORT LAUDERDALE, Fla.--Nov. 1, 20032, 2003--Ocean Bio-Chem, Inc. today reported net earnings for its 3rd Quarter or three-month period ending September 30, 2003 of $ .10 per share versus $ .05 per share for the same period in 2002. For the nine-month period ended September 30, 2003 and comparable period ending September 30, 2002, the Company reported net earnings of $.05 per share for 2003 versus net earnings of $ .10 per share for the comparable nine-month period in 2002. Net Sales for the 2003 3rd Quarter were $6,432,550 versus $6,847,351 for the 2002 3rd Quarter. For the nine-month period of 2003, Net Sales were reduced approximately 4% or $616,200 from $15,030,257 in 2002 to $14,414,068 for the nine-month period of 2003.

   Three-months ending September 30              2003         2002
          Net Sales                          $6,432,550   $6,847,351
          Net income                           $506,768     $255,771
       Earnings per share                          $.10         $.05
Average Shares Outstanding (fully diluted)    4,866,605    4,318,370

   Nine-months ending September 30               2003         2002
          Net Sales                         $14,414,068  $15,030,257
          Net income                           $232,815     $451,585
       Earnings per share                          $.05         $.10
Average Shares Outstanding (fully diluted)    4,866,605    4,318,370

Ocean Bio-Chem President and CEO Peter Dornau stated, "We are very pleased to report a second consecutive quarter of solid earnings and a return to profitability at the nine-month mark. In addition, we set an all time record for third quarter net earnings per share. This achievement was due in part to improved gross margins and decreased cost of goods sold as a percentage of net sales, from 73% to 80% respectively, when comparing the quarters ended September 30, 2003 and 2002. We also initiated a general sales price increase, utilized cash discounts offered by suppliers, and product pricing in response to current commodity cost pressure. Gross Sales to date in the fourth quarter 2003 and we are looking forward to a strong profitable year end."

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.