Ocean Bio-Chem Announces 2004 Year End Financial Results; Posts Record Revenues for 2004

FORT LAUDERDALE, Fla.--March 31, 2005--Ocean Bio-Chem, Inc. today reported net earnings for the calendar year ending December 31, 2004 of $ .02 per share or $134,554 versus $ .07 per share or $345,071 for the comparable 2003 year.

Highlights:

-- 2004 year revenues increased vs. 2003 approximately 9% to a record $24,361,056

-- Fourth quarter revenues increased vs. 2003 approximately 8% to $6,886,448

-- 2004 fourth quarter net income was approximately $389,958 or $0.07 per share

-- Company completes 2004 year with a fourth consecutive year of profitability

          Year Ended December 31                  2004         2003

               Gross sales                 $24,361,056  $22,178,352
                Net Sales                  $21,657,083  $19,997,702
                Net income                    $134,554     $345,071
        Earnings per share (basic)                $.03         $.07
    Earnings per share (fully diluted)           $ .02        $ .07
    Average shares outstanding (basic)       5,356,316    4,888,133
Average shares outstanding (fully diluted)   5,500,113    5,338,015

Management attributes the 2004 increase in net sales to gains made during the fourth quarter of the year resulting from enhanced sales promotions. Cost of goods sold increased to 77% of net sales for the year ended December 31, 2004 as compared to 75.7% of net sales in the year ended December 31, 2003. Management explained specifically that petroleum product costs were higher than those experienced in prior years and therefore represented a higher portion of the company's manufacturing expenses. Price increases were passed along on certain products during the first and second quarters of 2004. The company anticipates further price increases during early 2005.

Increased co-op advertising associated with increased sales to certain customers together and the timing of various advertising programs in 2004, resulted in increased advertising and promotion expenses of approximately $201,000 for 2004 versus 2003. Selling and administrative expenses for 2004 increased by approximately $100,000 or 3% vs. 2003. The increase was primarily due to higher personnel costs and other normal recurring increases in operating expenses.

Ocean Bio-Chem President and CEO Peter Dornau commented on the 2004 calendar year results, "The fourth quarter proved to be one of our best ever and helped us to finish 2004 with a fourth consecutive year of profitability and all time record revenues. We look forward to 2005 and another year of continuing 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 Star brite(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.