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                                  EXHIBIT 99.1



                                  PRESS RELEASE
                            OFFSHORE LOGISTICS, INC.
                         COMPLETES PRIVATE DEBT OFFERING


LAFAYETTE,  LOUISIANA  (January 28, 1998) - Offshore  Logistics,  Inc.  (NASDAQ:
OLOG) today  announced that it has completed the sale of $100 million  aggregate
principal amount of 7.875% Senior Notes due 2008 discounted to yield 7.915%.

         The  issuance  was  made  by  means  of  an  offering   memorandum   to
institutional  investors  pursuant  to Rule  144A and  other  provisions  of the
Securities Act of 1933. Proceeds from the offering will be used to repay certain
of the  Company's  existing  indebtedness  and for general  corporate  purposes,
including working capital.

         The Senior  Notes  issued by  Offshore  Logistics,  Inc.  have not been
registered under the Securities Act of 1933, as amended,  and may not be offered
or  sold  in the  United  States  absent  such  registration  or an  application
exemption from the registration requirements.

         Offshore  Logistics,  Inc.  provides  helicopter  transportation  
services  to the  offshore  oil  and gas exploration and production industry.

         For further information contact:

                          Dru Milke
                          Chief Financial Officer
                          Offshore Logistics, Inc.
                          P.O. Box 5-C
                          Lafayette, Louisiana 70505
                          (318-233-1221)

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