CHC renews contract with Royal Australian Air Force for $134 million ST. JOHN'S, NF, Feb. 26 /PRNewswire-FirstCall/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.A and FLY.B; NYSE: FLI) today announced that its operating division, CHC Australia, has been successful in renewing its contract with the Commonwealth Government of Australia to provide Search and Rescue helicopters and crews for the Royal Australian Air Force ("RAAF") for a period of 10 years, plus two option periods of two years each. The new contract, which commences July 1, 2004, will generate anticipated revenues of approximately CDN$134 million over the initial 10-year period. Under the terms of the contract, CHC will provide a core of five specially equipped Sikorsky S76A++ auto-hover capable helicopters at four RAAF bases across Australia. CHC will provide additional support to RAAF fighter squadron deployments to remote bases in Australia, using Bell 412, Bell 212 and S76 aircraft from the CHC fleet. CHC has provided sophisticated helicopter Search and Rescue support to the Royal Australian Air Force for more than 10 years. 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 3,500 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 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. DATASOURCE: CHC Helicopter Corporation 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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