VANCOUVER, Sept. 9 /PRNewswire/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.SV.A and FLY.MV.B; NYSE: FLI) announced today the completion of the sale of its remaining 45 percent interest in Canadian Helicopters Limited (CHL) to the Canadian Helicopters Income Fund. CHC's net proceeds from this sale are approximately $48 million. CHC expects to record a combined pre-tax gain and dividend income of approximately $20 million, based on the value of CHC's investment in CHL as of July 31, 2005. 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 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; Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca/. Images are free to accredited members of the media. 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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