Bristow Group Inc. Completes Redemption of Its 6 1/8% Senior Notes Due 2013

Bristow Group Inc. BRS, the leading provider of helicopter services to the offshore energy industry, today announced that it has completed the redemption of its $230 million face value 6 1/8% Senior Notes due June 2013. The notes were redeemed at 101.021% of face value, or approximately $232 million, plus accrued and unpaid interest of approximately $0.3 million. Bristow used borrowings under its new $375 million secured bank credit agreement to fund the redemption. Bristow expects to recognize a non-cash expense on retirement of the notes of approximately $2.4 million pre-tax related to unamortized debt issuance cost.