Bristow Announces Preferred Stock Dividend

Bristow Group Inc. announced lat Wednesday that its Board of Directors has declared a dividend of $0.68750 per share of Mandatory Convertible Preferred Stock issued and outstanding at the close of business on March 1, 2007 (the "Record Date"), which will be payable on March 15, 2007, to stockholders of record at the close of business on the Record Date. There are 4,600,000 shares of Bristow's Mandatory Convertible Preferred Stock issued and outstanding.

Bristow Group Inc. is a provider of helicopter services to the worldwide offshore energy industry based on number of aircraft operated. Through its subsidiaries, affiliates and joint ventures, the Company has major operations in the U.S. Gulf of Mexico and the North Sea, and operations in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico.

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