A man is dead and a woman is being treated for hypothermia after their boat capsized in Port Phillip Bay.
Emergency services were called to the St Kilda Marina shortly before 10am on Thursday following reports of a suspected drowning after the pair's boat capsized near Frankston.
Another boat picked up the couple but the man in his 50s was dead, police say.
The woman is in a serious but stable condition at the Alfred Hospital, where she is being treated for suspected hypothermia, Ambulance Victoria says.
Police are not treating the man's death as suspicious and will prepare a report for the coroner.
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