August 12, 2003

News Release: Wins New Business from Canadian Helicopters Limited

Vector Aerospace Corporation (Vector) announced that its helicopter repair and overhaul facility, ACRO Aerospace, has been awarded a one-year contract to provide repair and overhaul services to Canadian Helicopters Limited (CHL). The repair and overhaul support that will be provided by ACRO covers a large portion of this fleet and includes Turbomeca Arriel and General Electric CT58 engines, Sikorsky S61 and S76 dynamic components and accessories and Eurocopter AS350 and AS355 dynamic components and accessories. The program is valued at approximately $4 million. Ed Bergnach, CHL's Director of Maintenance stated: 'ACRO Aerospace has provided us with excellent workmanship, competitive pricing, and in many cases service above and beyond the call for a number of years now. This agreement strengthens our ties and allows us to better serve our clientele by reducing down-time, maintaining safety and effectively managing our costs'.

Charles McIvor, President of ACRO Aerospace stated, 'Canadian Helicopters is a very important customer to ACRO Aerospace and the entire ACRO team is looking forward to a long working relationship and the opportunity to be a part of the continued operational availability of their fleet of helicopters'.

Vector Aerospace Corporation is an independent provider of aviation repair and overhaul services. Through facilities in Canada, the United States and the United Kingdom it provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. It also provides information technology solutions to an international customer base. Principal operations include Atlantic Turbines, Sigma Aerospace, ACRO Aerospace, Helipro and Pathix. The Company has approximately 1,100 employees.

CONTACT: TEL: (709) 724-4500 Mark Dobbin, Chairman and CEO

TEL: (709) 724-4500 Maxwell Parsons, Vice President and CFO


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