Aircraft to Be Used For Oil Exploration

During the HAI Expo 2004, Bell and Aeroservicios Especializados S.A. de C.V. ("ASESA") officials announced that they had reached an agreement on the sale of ten new Bell 412EP Helicopters. The first few of the 412s have already been delivered to ASESA and have already started operations. Deliveries will continue through August of 2004. ASESA is part of the PROTEXA group of companies, a large, well-established group in Mexico, which among other things, constructs the majority of the offshore drilling platforms in the Bay of Campeche area.

These aircraft will be used to service three new five-year contracts awarded by "PEMEX", Mexico's national oil company, each contract requiring five helicopters. The missions will be carried out in the Bay of Campeche region in southeastern Mexico. The Bay of Campeche is the principal operating base for PEMEX's oil exploration activities. The services to be provided to PEMEX are transportation of personnel and cargo from Ciudad del Carmen to offshore oil platforms. ASESA competed with other major service operators for the contracts.

Speaking for ASESA Mr. Humberto Lobo De La Garza, Chief Executive Officer said, "These aircraft were vital to our winning an important contract award from PEMEX Exploration y Produccio ("PEMEX"). The well known reliability and best life cycle cost of operation provided us the ability to submit the strongest bid to provide helicopter services to PEMEX."  He also added "This purchase represents the most important acquisition of helicopters made by a private Mexican company. It turns ASESA in the largest offshore operator in Mexico."

FMI: www.bellhelicopter.textron.com