Crew Development Corporation: Metorex Ltd. Reports Strong Earnings Growth


VANCOUVER, British Columbia, Nov. 14, 2002 (PRIMEZONE) -- Crew Development Corporation (Crew) (TSE:CRU) (Other OTC:CRWVF) (Frankfurt:KNC) (Oslo:CRU) is pleased to announce that Metorex Ltd. (owned 21% by Crew) has reported its results for the quarter ended September 30, 2002, which showed net earnings after tax of ZAR 24.3 million (CAD 3.9 million), which translates into a 230% increase in headline earnings per share following the additional 18 million shares issued in the past six months. Overall sales revenue increased by 34%, but the prime driver of the excellent results was the contribution from Antimony and Coal, where sales revenue increased by 311% and 47% respectively.

Please see the full quarterly report from Metorex Ltd. for further details.



            

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