Global Vectra invests $26 mn for expansion

Adds two Bell 412s and one EC135 helicopter

Enlarges onshore charter services with EC135

GVHL offshore market share now at more than 50%

Global Vectra Helicorp Ltd (GVHL), a part of the UK-based $700 million Vectra Group and India's leading offshore oil and gas air logistics company, will induct two Bell 412 for offshore operations and one EC135 helicopter for onshore charters, in line with its expansion strategy. The company has invested approximately $26 million to acquire the three state of the art helicopters.

Post this acquisition, GVHL, owns 24 helicopters including the two new Bell 412s and the EC135. This fleet addition has multiplied GVHL's offshore support market share to more than 50%.

While the Bell 412s will operate for the company's current offshore clientele, the EC135 marks GVHL's increasing entry into the emerging onshore helicopter charter space. This helicopter has a seating capacity for seven, excluding the two pilots. The EC135 will also service a different set of clients who would hail from the hospitality industry, political fraternity and corporate sectors.

The EC 135 helicopter is due for delivery next month while the two Bell 412s would be inducted in the second half of 2008.

Mr. Allan Brown, Chief Executive Officer, Global Vectra Helicorp said, "We are delighted to announce the induction of two new Bell 412s and one EC135 in our fleet the state of the art helicopters. We also confirm our growth in the onshore helicopter market which is propelling forward in the fast developing Indian economy and we are committed to become a formidable player in that sector. The onshore charter industry is a fast emerging sphere of business in non-scheduled flights operations and we have entered it at the right time."

GVHL is a major offshore oil and gas air logistics player now expanding into South-East Asia and the Middle East regions. The company has ambitious plans of spreading its wings given its large fleet of state of the art helicopters.

About Global Vectra Helicorp Limited -

Global Vectra Helicorp Ltd. 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 Bhubneshwer ,Vishakapatnam and Rajamundry. GVHL has a market share of more than 50% 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 British Gas Exploration and Production India Ltd.

Global Vectra Helicorp Ltd. (GVHL) is driven by good corporate governance, 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 7.5 years. The company maintains an average of about 80 flying hours per helicopter per month. The average age will further reduce when two new helicopters will be added during the next financial year.

GVHL boasts of one of the most experienced and dedicated teams in the industry with 70 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 a DGCA approved in-house Bell 412 training department. By November 2007, Global Vectra Helicorp would have accumulated 50,000 hrs of offshore flight time with the Bell 412 Helicopters.

Global Vectra Helicorp Ltd is guided by the Vectra Group's Core Values. Core values form the bedrock on which the Vectra Group has been built. Believed and followed by each of the 240 employees, this is what drives the company to excel in whatever it does.

About The Vectra Group -

Founded in the 1970s the Vectra Group today, has a multi-dimensional portfolio of companies that operate in various business domains across the world. The core businesses of the Group are Engineering, Automotive, Material Handling & Construction Equipment, Real Estate with recent additions into the Security Systems & IT sectors. Operations of the Vectra Group are primarily in India and Eastern Europe spanning over 18 companies with 8 manufacturing facilities in 6 countries. Vectra Group's headquarters are in the United Kingdom.