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Ocean Bio-Chem, Inc. Anticipates Record Growth for 1999

1 November 1999

Ocean Bio-Chem, Inc. Anticipates Record Growth for 1999; New Products from DuPont Teflon Agreement Doing Well

    FT. LAUDERDALE, Fla.--Nov. 1, 1999--Ocean Bio-Chem CEO and President Peter Dornau announced today that the Company expects a continuing trend in revenue growth for the 1999 calendar year.
    Dornau stated: "Preliminary figures for the third quarter show a continuation of the growth trend and profitability of the first two quarters in 1999. Year to date sales increases through the third quarter will more than likely exceed $1 million over 1998's levels and represent a trend that, if extended through the fourth quarter, will result in gross revenues easily exceeding the $14 million in revenues achieved in 1998. In addition, we believe the introduction of new products and improved profit margins stemming from our Kinpak manufacturing facility provide a basis fOR profitability for the remaining quarter in 1999 and on into the future."
    The Company expects to release the third quarter results within the next two weeks.
    According to Dornau, the growth trend is due in part to the introduction and sales of two new marine products with the DuPont Teflon trademark. Products developing out of the exclusive licensing agreement with DuPont were introduced into the marine market in late 1998. In addition, sales of antifreeze products together with the strap and brush segments of the business have exhibited solid growth.
    Ocean Bio-Chem 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 name. The Company trades publicly under Nasdaq symbol: OBCI.
    This press release contains "forward-looking" statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. Such statements include, without limitation, statements relating to the Company's financial condition and involve certain risks and uncertainties associated with business. Actual results could differ materially from those projected in the "forward-looking" statements. The foregoing is news relating to Ocean Bio-Chem, Inc. For more detailed information the reader is referred to the Company's 10-K and other financial reports filed with the Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing or Ocean Bio-Chem, Inc. and is meant purely for informational purposes.