EDC and RBS Partner to Help CHC Helicopter Expand Global Sales

News Release

(OTTAWA) December 10, 2007 Export Development Canada (EDC), CHC Helicopter Corporation (CHC) and The Royal Bank of Scotland (RBS) today announced that EDC has provided USD 225 million to expand an existing Master Operating Lease Facility between CHC and RBS Aerospace to USD 450 million.
EDC's participation in the facility will provide CHC with additional capacity to finance a variety of different aircraft types as it grows its core services. The lease facility expansion is available for funding until May 31, 2009 and will be utilized to finance in excess of 15 aircraft.
"This financing agreement is part of EDC's ongoing efforts to help facilitate CHC's expansion of its export sales through its international flight services," said Eric Siegel, EDC President and CEO. "CHC's vast fleet includes many aircraft that incorporate parts manufactured by Canadian aerospace companies."
Sylvain Allard, President and CEO of CHC said "we are delighted to have obtained this additional lease financing from two of our major financing partners, EDC and RBS, and we thank them for their excellent support of our company's growth strategy."
CHC 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.
EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by 6,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and has been recognized as one of Canada's Top 100 Employers for seven consecutive years.
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Media contacts: Phil TaylorEDC Public Affairs(613) 598-2904ptaylor@edc.ca
Rick DavisSenior Vice President and Chief Financial OfficerCHC(604) 279-2471 or (778) 999-0314

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EDC and RBS Partner to Help CHC Helicopter Expand Global Sales

News Release

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