Fri Dec 27, 2002
Inter-Citic Announces Resignation Of Director And Appointment Of New Director

Toronto, December 27, 2002, Friday - Inter-Citic Mineral Technologies Inc. announces today that Mr. Peter Li has resigned from the Board of Directors of the Company. On behalf of the Company and its Board of Directors, Mr. Jim Moore, President and CEO, would like to thank Mr. Li for his valued contribution during his tenure as a Director of the Company.

Mr. Moore would also like to announce that Mr. Carlos Ho has been nominated to replace Mr. Li as a Director of the Company. Mr. Ho resides in Hong Kong and brings to the board experience in the corporate finance field.

Toronto-based Inter-Citic Mineral Technologies Inc. is an investment opportunity company investing selectively in the People's Republic of China. The Company has strategic partnerships with several large financially strong and established groups in China to facilitate investment and other business activities in China for both Western and Chinese partners.

Inter-Citic's shares trade on the TSX Venture Exchange under the symbol ICI.

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FOR FURTHER INFORMATION PLEASE CONTACT:

James J. Moore, President & CEO
Inter-Citic Mineral Technologies Inc.
(invest@inter-citic.com)
(416) 363-5055

Jon W. Kieran, Investor Relations
Hume, Kieran Inc.
(jon@humekieran.com)
(416) 868-1079

If you would prefer to receive press releases via email, please advise Brenda Orser at brenda@humekieran.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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