Bristow Group Inc. Announces Plan To Purchase Helicopter Adventures, Inc.

Houston, TX - Bristow Group Inc., a provider of helicopter services and production management services to the offshore energy industry, announced recently that it has entered into an agreement to purchase 100% of the stock of Helicopter Adventures, Inc., a flight training provider, for approximately $15M plus debt of approximately $5M. The purchase is expected to be completed on April 1, 2007 and at that time the flight school will be renamed as Bristow Academy Inc.

William E. Chiles, Bristow's President and Chief Executive Officer, characterized the acquisition as, "both a strategic move and a sound investment." Chiles said that, "Bristow Academy will be the centerpiece of a Global Training Division that will set a new standard for helicopter training at all levels of qualification while also providing a steady supply of highly trained new pilots to meet the needs of the company."

SOURCE: Bristow Group Inc.