Ocean Bio-Chem, Inc. Announces Formation of Joint Venture OdorStar Technology LLC

FORT LAUDERDALE, FL--(Marketwire - May 10, 2010) - Ocean Bio-Chem, Inc. (NASDAQ: [ OBCI ]) announced today the signing of all documents and the transfer of intangible assets into the new joint venture company OdorStar Technology LLC (OST). Ocean Bio-Chem, Inc. has also made capital contributions as part of the joint venture agreement. The new company, OST, is a 50/50 joint venture with BBL Distributors, LLC. OST now has ownership to all intangible intellectual property for the chlorine dioxide products to include patents and formulas. Additionally, all EPA registrations have been transferred into OST.

Ocean Bio-Chem President and CEO Peter Dornau commented, "I am optimistic as to the potential positive impact these unique chlorine dioxide products with its patented delivery system will have on our sales and profit growth in the future. We are currently moving forward for the commercialization and the sale of unique Starbrite/Ocean Bio-Chem products. We have initiated the creation of new packaging and selling materials and are developing marketing plans for the launch of these products. It is anticipated that full regulatory compliance will be a six month process for these products.

"With the many thousands of applications and sales opportunities for these products we are all excited at the potential sales. The joint venture provides the Company the opportunity to enter new major markets, increase sales into our current markets and increase manufacturing utilization. We are optimistic that the chlorine dioxide product group will be accretive to our 2011 earnings."

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™ name. The Company trades publicly under NASDAQ SmallCap Ticker Symbol: OBCI.

The Company's web sites are:
[ www.oceanbiochem.com ], [ www.starbrite.com ] and [ www.startron.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.

N※N

Ocean Bio-Chem, Inc. Announces Formation of Joint Venture OdorStar Technology LLC