CHC Announces Acceptance of Normal Course Issuer Bid.

Energy Editors/Business Editors

ST. JOHN'S, Newfoundland, Canada--(BUSINESS WIRE)--March 11, 2003

CHC Helicopter Corporation ("CHC") (NYSE:FLI) (TSX:FLY.A) (TSX:FLY.B) announced that the Toronto Stock Exchange has accepted the notice of intention filed by CHC to make a normal course issuer bid for the purchase of up to 1,299,458 class A subordinate voting shares, representing approximately 7% of the 17,875,200 class A subordinate voting shares outstanding as of February 28, 2003 (or approximately 10% of the public float). Under the terms of the normal course issuer bid, purchases may be made at the discretion of CHC (subject to applicable law and the rules of the Toronto Stock Exchange), commencing on March 12, 2003 and ending on March 11, 2004 (or such earlier date as CHC may complete its purchases). Purchases under the bid will be made through the facilities of the Toronto Stock Exchange at the prevailing market price. Any class A subordinate voting shares acquired by CHC will be cancelled.

CHC believes that, from time to time, the market price of its class A subordinate voting shares may not fully reflect the value of its business and future business prospects and accordingly, may represent an attractive investment to CHC and a desirable use of its available funds.

CHC Helicopter Corporation is the world's leading provider of heavy and medium helicopter services to the global offshore oil and gas industry, with aircraft operating in 23 countries and a team of approximately 2,500 professionals worldwide.

If you wish to be added to, or removed from, the Company's distribution list, please call 709-570-0749 or e-mail [e-mail].

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.