CHC Signs Contract Extension With Talisman Energy.

Business Editors

ST. JOHN'S, Newfoundland& LABRADOR, Canada--(BUSINESS WIRE)--March 31, 2003

CHC Helicopter Corporation (CHC) (NYSE: FLI) (TSX:FLY.A) (TSX:FLY.B) is pleased to announce that its operating subsidiary, CHC Scotia Limited, based in Aberdeen, Scotland, has signed a two-year contract extension in support of Talisman Energy (UK) Limited's production and drilling facilities in the North Sea.

The contract calls for the provision of two dedicated AS 332L Super Puma helicopters, plus additional services from CHC's pool of AS 332L Super Puma helicopters. This contract extension is exercised in direct continuity of the current contract between Talisman Energy (UK) Limited and CHC.

Paul Blakeley, Vice President at Talisman commented: "We are pleased to extend our contractual relationship with CHC Scotia for a further two-year period. The current contract arrangement is built on a long-standing relationship between the companies and has proved beneficial in providing Talisman operations with the level of service essential in maintaining cost effective support to our ongoing production and development activities offshore."

CHC President Sylvain Allard said: "We are delighted to continue to serve Talisman Energy. With this announcement, CHC has, so far this calendar year, renewed five multi-year contracts with four major customers in the North Sea, for combined annual revenues of approximately CDN$86 million. CHC remains committed to providing the most cost-effective, safe, reliable helicopter services to its customers worldwide."

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.

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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.