TEXT-S&P release on Bristow Group

(The following statement was released by the rating agency)

March 21 - Standard & Poor's Ratings Services said today that it revised
its outlook on helicopter services provider Bristow Group Inc. (BRS.N: Quote, Profile, Research) to
stable from negative. At the same time we affirmed all ratings, including the
'BB' corporate credit rating, on the company.

As of Dec. 31, 2007, Bristow had approximately $779 million in debt,
adjusted for guarantees, operating leases, and postretirement benefit
obligations.

"The outlook revision reflects the improvement in Bristow's operating
performance and financial leverage, and expectations that its new fleet
additions in the currently robust market should allow it to continue to
deleverage," said Standard & Poor's credit analyst Aniki Saha-Yannopoulos.

The ratings reflect Bristow's participation in the highly cyclical and
volatile oil and gas industry, exposure to weather and seasonal fluctuations
that might limit flight hours, large capital spending program, and lack of free
cash flow. These weaknesses are partially mitigated by the oligopolistic
industry structure, Bristow's significant market share, and its geographic
diversity.

Complete ratings information is available to subscribers of RatingsDirect,
the real-time Web-based source for Standard & Poor's credit ratings, research,
and risk analysis, at www.ratingsdirect.com. All ratings affected by this
rating action can be found on Standard & Poor's public Web site at
www.standardandpoors.com; select your preferred country or region, then Ratings
in the left navigation bar, followed by Credit Ratings Search.
(New York Ratings Team)