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

CHC Helicopter Corporation

January 31, 2005 09:30 ET

CHC Talisman Contract Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 31, 2005) - CHC
Helicopter Corporation ("CHC") (TSX:FLY.SV.A)(TSX:FLY.MV.B)(NYSE:FLI)
announced today that Talisman Energy (UK) Limited has informed CHC it
will not be renewing a contract for the provision of two Super Puma
AS332L aircraft based in Aberdeen, Scotland.

The contract, valued at approximately CDN$22 million per annum, runs
until March 31, 2005. CHC is confident that the two aircraft will be
redeployed quickly in light of the increasing demand in the UK and in
international markets.

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 3,400 professionals worldwide.

If you wish to be added to, or removed from, the Company's distribution
list, please contact communications(at)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
    (604) 276-7500

    or

    CHC Helicopter Corporation
    Chris Flanagan,
    Director of Communications
    (604) 279-2493
    Website: www.chc.ca