CHC Helicopter Corporation
TSX : FLY.A
TSX : FLY.B
NYSE : FLI
TSX : FLY.SV.A
TSX : FLY.MV.B

CHC Helicopter Corporation

January 05, 2005 09:30 ET

CHC completes sale of non-core operation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 5, 2005) - CHC Helicopter
Corporation ("CHC") (TSX:FLY.SV.A)(TSX:FLY.MV.B)(NYSE:FLI) announced today
it has completed the sale of Schreiner Canada Ltd, for net proceeds of
CDN$6.8 million in cash, to Meggitt Trading Canada Inc, a subsidiary of
Meggitt PLC.

Schreiner Canada, a non-core component of the Schreiner business segment,
assembles, services and operates unmanned air, ground and sea vehicles and
targets for training military forces and the defence industry from its base
in Medicine Hat, AB, Canada.

CHC Helicopter Corporation is the world's largest provider of helicopter
services to the global offshore oil and gas industry, with aircraft
operating in more than 30 countries and a team of approximately 3,500
professionals worldwide.

If you wish to be added to, or removed from, the Company's distribution
list, please contact communications@chc.ca.

This press release may contain projections and other forward-looking
statements within the meaning of the "safe harbour" provision of the United
States Private Securities Litigation Reform Act of 1995. While these
projections and other statements represent our best current judgement, they
are subject to risks and uncertainties that could cause actual results to
vary. These statements may involve risks and uncertainties including, but
not limited to, factors detailed in CHC's Annual Report on Form 20-F and in
other filings with the United States SEC. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those indicated.

Contact Information

  • CHC Helicopter Corporation
    Jo Mark Zurel
    Senior Vice-President & Chief Financial Officer
    (709) 570-0567

    or

    CHC Helicopter Corporation
    Chris Flanagan
    Director of Communications
    (604) 279-2493 or (604) 340-7659