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Press release from Marketwire

CAE to acquire CHC Helicopter's training operations and to become CHC Helicopter's training provider

Monday, December 20, 2010

CAE to acquire CHC Helicopter's training operations and to become CHC Helicopter's training provider08:58 EST Monday, December 20, 2010MONTREAL, QUEBEC and VANCOUVER, BRITISH COLUMBIA, CANADA--(Marketwire - Dec. 20, 2010) - CAE (NYSE:CAE)(TSX:CAE) and CHC Helicopter, a global leader in helicopter transportation for the offshore oil and gas industry, announced today that they have signed an agreement pursuant to which CAE will acquire CHC Helicopter's helicopter flight training operations including four full-flight simulators located in Norway, United Kingdom and Canada. Upon closing, CAE will become CHC's long-term partner and will provide training to its more than 2,000 helicopter pilots and maintenance engineers. The training partnership also includes general training, pilot provisioning and certain search and rescue training in support of CHC's global fleet. The transaction is subject to customary closing conditions. After closing, CAE's global training network will include new training locations in Stavanger, Norway and Aberdeen, United Kingdom, as well as increased training capacity in Vancouver, Canada."Safety is CHC's number one priority and world-class training is the cornerstone of safe operations," said William Amelio, President and Chief Executive Officer of CHC Helicopter. "CAE is a global leader in training, and establishing a long-term partnership with CAE will enable us to focus on our core business of providing superior helicopter services. We will have access to CAE's global training network, accredited trainers and curriculum developers, its world-class simulators, and other state-of-the art training technology while maintaining complete control and accountability for our training programs. The ability to scale training to meet demand is the way of the future for the helicopter industry.""CAE is proud to have CHC Helicopter and its pilots and maintenance engineers as customers," said Marc Parent, President and CEO of CAE. "We have listened to their needs and provided them with an innovative and flexible solution that fits their unique business model. CHC will be able to increase efficiencies and gain access to CAE's global training network. We welcome the CHC Helicopter training team to CAE, and look forward to working with them to continue delivering the highest-quality training to CHC pilots and engineers as well as other helicopter operators."CAE has designed training systems for the greatest variety of helicopters and is one of the industry's most experienced providers of turnkey helicopter training services for both the civil and military markets. CAE is leveraging its experience in simulation-driven mission scenarios to help improve safety for helicopter pilots who operate in dynamic environments such as offshore oil and gas platforms and dense urban areas.The simulators included in the agreement are a Eurocopter AS332L/L1 Super Puma and a Sikorsky S‐61 located in Stavanger, Norway; an AS332L2 Super Puma in Aberdeen, United Kingdom and a Sikorsky S-76 simulator in Vancouver, Canada. They complement CAE's training network which currently offers civil helicopter training in: The Middle East -- Emirates-CAE Flight Training in Dubai offers Bell 412 training; Europe -- Rotorsim, a joint venture of AgustaWestland and CAE, in Sesto Calende, Italy, offers AW109 and AW139 training; North America -- CAE's North East Training Centre in Morristown, New Jersey offers Sikorsky S-76C+/S-76B training and, through Rotorsim, offers AW139 training; Mexico -- CAE will soon deliver Bell 412 training; India -- CAE and joint venture partner Hindustan Aeronautics Limited (HAL) offer Bell 412 training and will offer Dauphin and Dhruv training over the next year. CAE also operates military helicopter training centres in the U.K. and Germany and offers training on military helicopters in Italy and India. About CHC Helicopter Headquartered in Vancouver, BC, CHC Helicopter is a global leader in helicopter transportation for the offshore oil and gas industry, operating some 270 aircraft in more than 30 countries around the world. It is also a world leader in the provision of civilian search and rescue services, with current contracts in Australia, UK, Ireland and other locations around the world. CHC is the parent company of Heli-One, one of the world's largest helicopter maintenance companies. With its headquarters, also in Vancouver, Heli-One provides tip-to-tail maintenance services for a wide range of helicopters at bases around the world. www.chc.ca About CAE CAE is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.5 billion, CAE employs more than 7,000 people at more than 100 sites and training locations in more than 20 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 29 civil aviation and military training centres, we train more than 75,000 crewmembers yearly. We also offer modelling and simulation software to various market segments and, through CAE's professional services division, we assist customers with a wide range of simulation-based needs. www.cae.comFOR FURTHER INFORMATION PLEASE CONTACT: Nathalie Bourque, Vice President,CAE contacts:Public Affairs and Global Communications514-734-5788nathalie.bourque@cae.comORChris Stellwag, Director,Trade media:Marketing Communications, Military and Civil813-887-1242chris.stellwag@caemilusa.comORAndrew Arnovitz, Vice President,Investor relations:Investor Relations and Strategy514-734-5760andrew.arnovitz@cae.comORAndrew Huige,CHC Helicopter contact:Communications Manager604-232-7438 / Mobile: 778-999-1322andrew.huige@chc.cawww.chc.ca