Bovie Medical Reports Turnaround to Profitability on Record Revenues: Sales Continue Strong in Second Quarter.

MELVILLE, N.Y.--(BW HealthWire)--May 18, 1999--

Bovie Medical Corporation: (BOVI: OTC BB), a company engaged in the engineering, designing, manufacturing, and marketing of electrosurgical medical products, today announced record revenues for the first quarter of fiscal year 1999, resulting in net income of $9,045; a significant improvement over the net loss of $(170,884) recorded in the comparable period last year. Revenues improved over twenty five percent to a record $2.25 million versus $1.77 million in the same period of FY1998.

Andrew Makrides, president of Bovie, stated, "Our increased revenues clearly reflect acceptance of our core products; particularly in the area of electrosurgery. Furthermore, the Company's second quarter has started with a 20 percent sales increase in April 1999, when compared to the same month a year-earlier."

This document may contain some forward looking statements, particularly regarding operational prospects in 1999 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.