CHC completes acquisition of Schreiner Aviation Group ST. JOHN'S, NL, Feb. 16 /PRNewswire-FirstCall/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.A and FLY.B; NYSE: FLI) today announced that it has closed its previously announced acquisition of 100 per cent of Schreiner Aviation Group ("Schreiner") of Hoofddorp, the Netherlands, for a cash payment of 83 million euros (CDN $140 million), including the outstanding debt of Schreiner. The acquisition was financed by a euro facility provided by the Bank of Nova Scotia through an amendment of the Company's existing senior credit facilities. Schreiner operates a worldwide fleet of approximately 50 aircraft, providing helicopter and fixed wing aviation services primarily to the offshore oil and gas industry in Europe, Africa and Asia. Schreiner's annual revenues are approximately (euro) 100 million (CDN $169 million). CHC Helicopter Corporation, is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in 30 countries and a team of approximately 3,400 professionals worldwide. 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 anduncertainties 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. DATASOURCE: CHC Helicopter Corporation CONTACT: please contact: Jo Mark Zurel, Senior Vice-President & Chief Financial Officer, (709) 570-0567; Derrick Sturge, Vice President Finance & Corporate Secretary, (709) 570-0713; Chris Flanagan, Director of Communications, (709) 570-0749/685-1537; If you wish to be added to, or removed from, the Company's distribution list, please contact

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