Crew & Mindex Reject Claim by Jens Moe &Partners Corp. for a Success Fee in Respect of...

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--May 26, 2000

Crew Development Corp (TSE:CRU.)(FRANKFURT:KNC)

Jens Moe & Partners Corp. ("JMPC") has filed suits against both companies in the Norwegian courts, in respect of a disputed success fee for

The disputed success fee is in respect of JMPC's role in the acquisition of Mindex by Crew Development Corporation, which JMPC has claimed under an agreement between JMPC and Mindex dated September 8, 1999. In addition to the disputed fee, the agreement provided for a monthly retainer of US$15,000 (NOK137,000) for services relating to a proposed refinancing and restructuring of Mindex.

Mindex paid retainer fees and expenses totaling approximately NOK 1 million (US$110,000) to JMPC during the course of its engagement, which the companies believe has adequately compensated JMPC for its role.

Crew and Mindex have denied JMPC's claims for a success fee on the basis that Crew initiated negotiations with Mindex directly in July 1999 without any introduction by JMPC. Further, JMPC's participation was neither significant nor decisive in the negotiations. Finally, on completion of the Voluntary Offer, and at a crucial stage of the transaction, JMPC failed to honour their financial commitments to the parties.

As a result, Crew and Mindex intend to vigorously defend themselves against JMPC's claims.

John M. Darch, President and C.E.O.

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