Bovie Medical Corporation Announces Receipt of Its Largest Electrosurgical Contract: Significant Impact On Revenues Anticipated.

Business Editors/Health & Medical Writers

Bovie Medical Corporation (the "Company") (OTCBB: BOVI), a manufacturer and marketer of electrosurgery products, today announced that it had entered into an exclusive five-year contract to manufacture generators and accessories utilized in the electrosurgical industry.

The contract marks the largest agreement in Bovie's history and management believes that it will have an increasingly significant impact on revenues on a year-to-year basis, during the contract period, which is expected to commence in fiscal 2003. Specific terms of the agreement were not disclosed.

Commenting on the new contract Andrew Makrides, president of Bovie Medical Corporation stated, "We are delighted with the confidence demonstrated in Bovie by a premier company in the electrosurgery industry. The contract coupled with the introduction of new products clearly positions Bovie for continued growth."

This document may contain some forward looking statements, particularly regarding operational prospects in 2002 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company's SEC filings.