CHC Redeeming 8% Subordinated Debentures Due 2007 ST. JOHN'S, NL, May 6 /PRNewswire/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.A and FLY.B; NYSE: FLI) announced today that it will redeem, on June 4, 2004 (the "Redemption Date"), in accordance with the terms of The Trust Indenture, all outstanding 8% Convertible Subordinated Debentures of CHC Helicopter Corporation issued August 20, 1987. The redemption price for each Debenture shall be 101.2% of the principal amount plus all accrued and unpaid interest on the principal amount up to the Redemption Date. The value of outstanding Debentures to be redeemed is approximately CDN$10.5 million, plus accrued interest. Details of the Redemption will be provided in the Notice of Early Redemption to be issued to all Holders. CHC Helicopter Corporation is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in 30 countries and a team of approximately 3,500 professionals worldwide. If you wish to be added to, or removed from, the Company's distribution list, please contact . DATASOURCE: CHC Helicopter Corporation CONTACT: Derrick Sturge, Vice-President, Finance & Corporate Secretary, (709) 570-0713; Chris Flanagan, Director of Communications, (709) 570-0749; Archived images on this organization are available through CNW E-Pix at http://www.newswire.ca/. Images are free to members of The Canadian Press. 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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