Crew Development Corp.: Yukon Litigation Settled - Crew Appoints Four New Directors.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 21, 2002

Crew Development Corporation (OTCBB:CRWVF) (TSE:CRU.) (OSLO STOCK EXCHANGE:CRU.) (FRANKFURT:KNC.) is pleased to announced the settlement of the petitions filed in the Supreme Court of the Yukon by the

Company and by a dissident shareholder group, both of which arose from matters at the Company's annual general meeting held on December 21, 2001. As a result of the settlement, the Company today appointed four nominees of the dissident shareholder group to the Board, which now consists of eight directors. The new directors, Hans Christian Qvist, Jan Vestrum, Kai Thogersen and Cameron Belsher join the Company's existing Board members, John Darch, Peter Barnes, David Williamson and Wayne Fallis. Mr. Qvist was also named Chairman of the Board.

Hans Christian Qvist is a management consultant in Oslo, Norway. Mr. Qvist has 10 years experience as chief executive officer with a number of IT companies, including SPCS - Group, IBM Global Services and Tand Borg Data and 10 years experience with companies in oil exploration, production and trading, including Shell International and Saga Petroleum.

Jan A. Vestrum holds a MSc. from the Norwegian Institute of Technology (Mining Department) and has more than 8 years experience as senior executive in resource, technology businesses and corporate finance. He is presently President and CEO of Concept SA in France.

Kai Thogersen is a partner with the law firm Thommessen Krefting Greve Lund which is located in Oslo, Norway. Mr. Thgersen has considerable experience working with European companies involved in mergers, acquisitions and corporate finance related matters.

Cameron Belsher is a partner with the law firm Farris, Vaughan, Wills & Murphy which is located in Vancouver, British Columbia. Mr. Belsher has extensive experience in corporate finance and merger and acquisition related matters in the mining, technology and telecommunications industries.

The Company also announced that it intends to continue to proceed with its previously called extraordinary general meeting of shareholders to be held on March 22, 2002 for the purpose of considering the election of directors.

The entire Board is very pleased with the resolution of this matter, and looks forward to working together in advancing the interests of the company and all of its shareholders.

Company Profile

Crew is an established, multi-commodity, Canadian mining company with operations in Africa, Canada, Greenland, Norway and the Philippines. In addition to a variety of projects that are at various stages of development and discovered by Crew, the company controls seven producing mines through its southern African subsidiary. Crew's strength stems from this diversified, solid, broad base of projects. The company is well positioned to focus on specific projects, and to respond to changing market forces. Crew shares are listed as CRU on the TSE (Canada) and OSE (Norway), as KNC on the Frankfurt Exchange (Germany), and as CRWVF on the OTC BB (USA).

Hans Christian Qvist, Chairman

John M. Darch, Chief Executive Officer

This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents.