PHI Closes Corporate Office

Petroleum Helicopters, Inc. announced the retirement of Mrs. Carroll W. Suggs as Chairman and Board Member and the election of Al A. Gonsoulin as Chairman of the Board of PHI. Mr. Gonsoulin recently acquired a majority of the PHI voting stock from the Suggs Family Fund, L. L. C.

PHI also announced that it will close its corporate office located near New Orleans in Metairie, Louisiana the end of this month. The corporate office will be moved to and consolidated with PHI's Operational Headquarters in Lafayette, Louisiana.