George Small Retires from Offshore Logistics

Offshore Logistics announced that its Chief Executive Officer and President, George M. Small will retire later this year. Mr. Small was named CEO in May 2002 after holding the positions of President since 1997 and Chief Operating Officer from 1999 to 2002. He joined the Company in 1977 and has held a variety of management and officer positions during his 27 year career at Offshore Logistics.

The Company said its Board of Directors has begun a search for a replacement for Mr. Small who will remain with the Company for six months following the naming of a new CEO to provide for a smooth transition in leadership.

Kenneth M. Jones, Chairman of Offshore Logistics' Board of Director's commented, "We are grateful to George for his 27 years of dedicated service and commitment to Offshore Logistics. He has been instrumental in the growth and success of our Company and his leadership, insight and knowledge of the oil service industry will be missed. The Board is actively pursuing the search for his successor who can continue to lead us forward."