Crew Development Corporation: Shares Acquired by CEO Jan Vestrum

VANCOUVER, British Columbia, CANADA


VANCOUVER, British Columbia, Nov. 5, 2002 (PRIMEZONE) -- President & CEO of Crew Development Corporation Ltd (Crew) (TSE:CRU) (Other OTC:CRWVF) (Frankfurt:KNC) (Oslo:CRU), Jan A. Vestrum, has bought 400,000 shares in Crew at NOK 1.45 (CAD 0.31) per share by way of a 3-month forward contract dated November 5th 2002.

Vestrum has previously acquired a 12-month forward contract for 1,000,000 shares with maturity September 20, 2003 as well as 2,000,000 warrants with maturity dating May 1, 2003, not including 1,750,000 options granted by the Board of Directors. Vestrum's total exposure now totals 5,150,000 shares in the company.

This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents. For more information or to be put on our email list, please contact the Vancouver Office, (604) 683 7585 or US/Canada Toll Free: 1-866-818-2211, email: ir@crewdev.com or the Oslo Office at +47 67 59 2424, email crew@crew.no. Visit our website at http://www.crewdev.com.



        

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