Ocean Bio-Chem Signs Letter of Intent To Acquire Operating Assets of Clear Cote Corporation

FORT LAUDERDALE, Fla.--Dec. 2, 20039, 2003--Ocean Bio-Chem, Inc. today announced that it has signed a letter of intent to acquire the operating assets of Clear Cote Corporation of St. Petersburg, FL. Clear Cote is a 20 year old privately held manufacturer and distributor of resin and epoxy based products to the marine, automotive and furniture industries.

The transaction is subject to completion of due diligence, finalization of financing arrangements and Board ratification. The purchase would include trade accounts receivable, fixed assets, and intangibles (trade names, trademarks, formulations etc.). Ocean Bio-Chem would assume certain trade payables, make a cash payment and issue two notes to the Seller. Other more specific terms of the transaction were not disclosed at this time.

Commenting on the acquisition Peter Dornau, Chief Executive Officer of Ocean Bio-Chem stated, "Clear Cote's products are well known, high quality and are a natural adjunct to expand the Starbrite(TM) line into epoxies and resins where we have no presence. We share many mutual customers and we can expand their line in the retail markets where we have a major presence and strong relationships and Clear Cote lacks presence. We believe there are significant synergies to be realized by combining our respective customer bases and that Clear Cote's margins and operating profits can be enhanced under our management. Overall we are very enthusiastic about the prospects of the acquisition and look forward to reporting it in greater detail subject to completion of the transaction."

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. http://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.