Prior to joining CIT, Mr. Thompson had been a director at Newcourt Capital Inc. since 1995, and was responsible for developing asset-financing opportunities in the Canadian public sector finance market. Prior to that, he was President and Chief Executive Officer of the Canadian Finance and Leasing Association. Having been involved in finance and development projects since 1984, Mr. Thompson was president of two Toronto based development companies. Before that, Mr. Thompson had held several executive positions with the Bank of Montreal since 1965.

In addition to his duties with the CIT Group, Mr. Thompson has recently served as Executive Director of the Toronto Waterfront revitalization task force. He is also actively involved in the Toronto Board of Trade and was appointed in 1998 by the Federal Government as a member of the Sectoral Advisory Group on International Trade. Commenting on the appointment, Mr. Marc J. Oppenheimer, President and CEO of Crystallex International Corporation stated "Mr. Thompson's lengthy experience in project and infrastructure development as well as financing will prove to be an invaluable asset as the Company deals with larger opportunities. His varied industry and governmental contacts will be very helpful to the Company. We welcome him as an important part of Crystallex's working Board, and look forward to his input as we execute our growth strategy."

Additionally, Crystallex announced today that Mr. Robert A. Nihon has resigned from the Crystallex Board of Directors in order to concentrate on his other business interests. Mr. Nihon is Chairman and Chief Executive Officer of International Bankers Limited and Chairman of Alexis Nihon, Canada. "During his four years as a member of the Crystallex Board, Mr. Nihon has provided insight and assistance to our management team," commented Mr. Oppenheimer. "He has worked diligently on behalf of the shareholders, and he will be missed. We want to take this opportunity to wish him the very best in all of his activities."

Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near production projects and by exploring properties of merit in other areas of the world.

On Behalf of the Board:

Marc J. Oppenheimer, President & CEO

Note:

This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.