2008-11-17 22:50:00 -

Bovie Medical Corporation (the "Company") (NYSE Alternext US: BVX), a manufacturer and marketer of electrosurgical products, today announced the closing of an Industrial Revenue Bond (IRB) offering by the Pinellas County Development Authority (Florida) on behalf of Bovie in the amount of $4,000,000. The bond is covered by a letter of credit by Royal Bank of Canada. The proceeds of

the IRB substantially satisfied the balance on the Company"s line of credit used to purchase a larger facility in Largo, FL. The new facility allows the Company to consolidate its operations and provides for its future growth needs. The Company during the next several months will make available for sale its current premises in St. Petersburg, FL.
Gary Pickett, chief financial officer of Bovie, stated, "Bovie"s ability to access the capital markets at this time, especially the credit market, demonstrates investor confidence in Bovie"s future. The benefits of our IRB include: long term financing at interest rates below conventional financing and eliminating any current short term debt. We look forward to justifying this confidence as we transform Bovie from an OEM dependent company to one with a broad portfolio of proprietary products and technologies."
For further information about the Company"s current and new products, please refer to the Investor Relations section of Bovie"s website cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ...
This document may contain some forward looking statements, particularly regarding operational prospects in 2008 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.


Investor:

Buttonwood Advisory Group, Inc.

John Aneralla, 1-800-940-9087