Global Vectra Helicorp inducts three $22.5mn choppers

January 3, 2007 "� Mumbai: As part of its expansion plans, Global Vectra Helicorp Limited (GVHL) (BSE Code 532773; NSE Code GLOBALVECT), a part of the UK-based Vectra group, and the country's leading off-shore air logistics helicopter company has inducted three brand new Bell 412 helicopters to its current fleet of 15 helicopters.

Two out of these three new acquisitions will be deployed to serve Reliance Industries Ltd. on the East Coast as well as the west coast and the third will be used for another company for their west coast operations. GVHL has invested USD 22.5 million to acquire the three off-shore configured aircrafts which have been funded through equity and lease finance.

Global Vectra Helicorp Ltd also signed an Agreement today to provide Helicopter services to Transocean Offshore International Ventures Ltd and its affiliate for a period of three years at a contract value of Rs 43 Crore approximately.

These new Bell 412 helicopters can seat two pilots and 13 passengers and are identical to the 15 Bell 412s which GVHL already has. . The addition of aircraft has swelled up GVHL's fleet size to 18 helicopters and has also added to the total fleet of off-shore air logistics industry which has a total strength of 39 off-shore helicopters. This marks a significant rise in GVHL's market share to 46.15% from the present 42%. (Note: Market share here has been calculated as per the number of GVHL helicopters to the total number of off-shore helicopters in the industry.)

The existing fleet of 15 helicopters has been completely dedicated to ONGC, British Gas Exploration & Production India Ltd., Reliance Industries Ltd, Transocean and Gujarat State Petroleum Corporation with ONGC accounting for the largest chunk of the fleet. GVHL has been in operation in India since 1998 and has grown steadily over the years.

Mr. Ravinder Rishi, Chairman, Vectra Group, UK, said, "We are moving towards a global goal and GVHL's purchase of 3 new off-shore helicopters is a step towards our vision . We plan to expand further in Asia by anchoring our operations in India as I see tremendous potential in the business of oil and gas air logistics. I am certain that this acquisition will boost our share holders' faith in us."

Lt. Gen. (Retd) S.J.S. Saighal, Chairman, Global Vectra Helicorp Limited said, "We had promised our share holders that GVHL is an aggressively growing air logistics company and will bring tremendous value to their Investment. By purchasing 3 more Bell 412 helicopters we have kept up to our commitment. Our market share has been rising steadily and after this purchase we have increased our marketshare to 46%. GVHL is planning to increase its fleet to 29 helicopters by 2009 and we also intend tapping the deep sea air logistics market which is the next big opportunity."

After strengthening its position in the Indian market, the company is moving rapidly to other Asian countries as well. The company has been receiving proposals for contracts from shores of Sri Lanka, Malaysia and other countries around the Indian subcontinent.

About Global Vectra Helicorp Limited -

Global Vectra Helicorp Ltd. (BSE Code 532773; NSE Code GLOBALVECT) is India's largest dedicated off-shore air logistics support helicopter company. Since its inception in 1998, Global Vectra Helicorp Ltd. has consistently performed above industry standards and is the first Indian off-shore helicopter company to be credited with an ISO 9001:2000, ISO 14001-2000 and OHSAS ISO 18001-1999. Headquartered in Mumbai, the Rs 300 Crore company serves the E&P efforts of the country's oil industry on both sides of the Indian sub-continent through the main base at Juhu airport and forward bases at Vishakapatnam and Rajamundry. GVHL has a market share of 42% (2006) and serves some of the biggest clients in the industry, some of them being ONGC, Reliance Industries Ltd, Gujarat State Petroleum Corporation Ltd, Transocean Offshore Ventures India Ltd and BG Exploration and Production India Ltd.

Global Vectra Helicorp Ltd. (GVHL) is driven by good corporate citizenship, professionalism, focus on quality and customer centricity. Proof of that lies in the fact that GVHL has one of the highest records of 95% helicopter availability, safety and reliability and flies 365 days a year through difficult flying conditions. . Moreover GVHL has one of the youngest fleets in the country with a fleet age of 12.5 years. The company maintains an average of about 100 flying hours per helicopter per month. The average age will further reduce by March, 2007 when the current induction plan of adding new helicopters in the current Financial year is completed.

GVCL boasts of one of the most experienced and dedicated teams in the industry with 50 Bell 412 rated pilots, who have a cumulative experience of over 153,000 hrs of flying. All pilots are IFR rated, night current, DGR and HUET trained. GVHL is the only helicopter company in India to have an DGCA approved in-house Bell 412 training department. By December 2006, Global Vectra Helicorp had accumulated 51,000 hrs of offshore flight time with the Bell 412 Helicopter.

Global Vectra Helicorp Ltd is guided by the Vectra Group's Core Values "� to develop robust alliances and to maintain transparency and integrity in business dealings resulting in mutually beneficial partnerships. Core values form the bedrock on which the Vectra Group has been built. Believed and followed by each of the 180 employees, this is what drives the company to excel in whatever it does.