CHC Awarded New $34 Million Contract in North Sea.

Energy Editors/Business Editors

ST. JOHN'S, Newfoundland & LABRADOR, Canada--(BUSINESS WIRE)--Jan. 15, 2004

CHC Helicopter Corporation ("CHC") (TSX: FLY.A) (TSX: FLY.B) (NYSE: FLI) announced today that its European operating division has been awarded a new three-year contract (plus a two-year option) in the North Sea for the provision of offshore helicopter flight hours from its pool of Super Puma AS332L aircraft.

This new contract, awarded as a result of a combined tender consisting of Eni UK Limited, BG Group, and ConocoPhillips Petroleum Company UK Ltd. will commence February 1, 2004, from CHC's base in Aberdeen, Scotland. Anticipated revenue from the contract is estimated at approximately CDN $34 million over the initial three-year period.

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 30 countries and a team of approximately 3,400 professionals worldwide, including a pending acquisition.

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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.