CHC Talisman contract update www.chc.ca VANCOUVER, Jan. 31 /PRNewswire/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.SV.A and FLY.MV.B; NYSE: FLI) announced today that Talisman Energy (UK) Limited has informed CHC it will not be renewing a contract for the provision of two Super Puma AS332L aircraft based in Aberdeen, Scotland. The contract, valued at approximately CDN$22 million per annum, runs until March 31, 2005. CHC is confident that the two aircraft will be redeployed quickly in light of the increasing demand in the UK and in international markets. CHC Helicopter Corporation is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries and a team of approximately 3,400 professionals worldwide. If you wish to be added to, or removed from, the Company's distribution list, please contact . 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, (604) 276-7500; Chris Flanagan, Director of Communications, (604) 279-2493; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

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