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CHC Helicopter Provides Update on Lease Agreements

Company to Issue, Host Regular Analyst Call for Fiscal 2011 Financial Results Next Week

CHC Helicopter said today it has completed agreements with all of its aircraft lessors to successfully reset the financial covenants on the company's operating leases.

"We are very pleased with the overall outcome of the negotiations and the support we received from our lessors," said William Amelio, CHC's president and chief executive officer. "We are confident with our ability to operate within the agreed covenant cushion and with our capacity to re-lease aircraft with lease providers as existing leases expire."

Separately, the company said it will release financial results for fiscal-year 2011 and hold its regular conference call for analysts the week of Aug. 8. The specific date and time of the call, along with dial-in instructions, will be announced shortly.

CHC Helicopter provides skilled, secure transportation to offshore oil and gas platforms and other sea-based installations, civilian search-and-rescue services, and helicopter maintenance repair and overhaul. The company is headquartered in Vancouver, B.C., Canada, and operates more than 250 aircraft in about 30 countries around the world.

This presentation may contain forward-looking information within the meaning of certain securities laws including the "safe harbor" provision of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. While these projections, conclusions, forecasts and other statements represent our best current judgment, the actual results could differ materially from the conclusion, forecast or projection contained in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection in the forward-looking information contained herein. Such factors include, but are not limited to, the following: exchange rate fluctuations, trade credit risk, industry exposure, inflation, contract loss, inability to maintain government issued licenses, inability to obtain necessary aircraft or insurance, competition, political, economic and regulatory uncertainty, loss of key personnel, work stoppages due to labor disputes, and future material acquisitions, as well as those factors discussed below and elsewhere in this offering memorandum. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. The Company disclaims any intentions or obligations to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.