CHC Helicopter Corporation Regarding Vector Aerospace Corporation

Business Wire, Sept 30, 1999

ST. JOHN'S, Newfoundland--(BUSINESS WIRE)--Sept. 30, 1999--

CHC Helicopter Corporation ("CHC") (TSE:FLY.A) (TSE:FLY.B) (Nasdaq:FLY.AF) announced today that it has sold 5,500,000 common shares (the "Common Shares") of Vector Aerospace Corporation ("Vector") held by a wholly-owned subsidiary of CHC at a price of Cdn. $6.25 per common share (for total gross proceeds to CHC of Cdn. $34,375,000). The Common Shares were sold pursuant to a public offering in Canada. CHC no longer directly or indirectly owns any shares of Vector.

The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

CHC is a worldwide provider of helicopter transportation services and operates 348 light, medium and heavy helicopters around the world. The Company has 2,800 employees.