VANCOUVER, BC - CRYSTALLEX INTERNATIONAL CORPORATION (KRY on T.S.E. and Amex) today announced its earnings for the second quarter and six months period of 2000 and commented on the progress of projects in Venezuela and Uruguay.

Revenue for the second quarter ended June 30, 2000 was C$8,903,943, compared to second quarter 1999 revenue of C$9,864,001. Net income for the second quarter 2000 was C$633,341 or C$0.01 per share (fully diluted). This compares with net income in the second quarter of 1999 of C$2,055,315 or C$0.04 per share (fully diluted). Total assets increased in the 2000 second quarter to nearly C$134 million compared with C$108 million in the second quarter of 1999, and shareholder's equity rose to more than C$98 million, versus C$71 million in the comparable year-earlier period.

For the first six months ended June 30, 2000, operating revenue of C$16,854,321 generated a net income of C$1,836,795 or C$0.03 per share (fully diluted). This compares to revenue of C$18,848,948 in the first six months of 1999, which produced net income of C$3,536,272 or C$0.06 per fully diluted share.

In the second quarter 2000 the Company received an average price per ounce of gold of approximately US$301, compared to the average spot market price for the quarter of approximately US$280 per ounce. Gold production for the second quarter 2000, was 18,475 ounces, at a total cash cost of approximately US$242 per ounce. A planned mill shutdown and the processing of lower grade ore impacted both the production and cost of production for the quarter.

To prepare for modifications to the sag mill power system, the mill at the Company's San Gregorio mine in Uruguay operated for only 86 days during the 2000-second quarter versus 91 days during last year's second quarter. Despite fewer days of operation, previous improvements to the mill circuit, which increased mill throughput by 6 percent, enabled the Company to mill 266,000 tonnes for the second quarter 2000, and equal the throughput in the comparable period of 1999. Tonnes milled per day rose to 3,103 in the second quarter 2000, compared to 2,917 in last year's second quarter. In addition to this increase in mill throughput, the Company's oxygenation project has improved gold recovery from the 92.84 percent achieved in the second quarter 1999 to 94.52% in the second quarter 2000. Mill modifications that will be completed in the fourth quarter are expected to increase mill power by 20 percent, enabling the economic processing of additional ore and further extending the life of the mine.

During the second quarter 2000, Crystallex developed plans to implement similar productivity improvements at the Company's Tomi Mine and Revemin mill acquisition, which was completed in July 2000. Like those at the San Gregorio operation, the planned improvements focus on equipment and manpower productivity as well as a reduction in overall operating costs.

"This year's second quarter has been one of the busiest and most productive in our Company's history," commented Crystallex's President and Chief Executive Officer, Marc J. Oppenheimer. "Throughout the quarter, we successfully executed our strategy of being a low cost producer of gold and growth through acquisition. With the acquisition of the Venezuelan assets of Bolivar Goldfields, we have an achievable five-year growth profile that is much more aggressive than was possible just a few months ago. Without including anticipated production from Las Cristinas, we are on track to produce 100,000 ounces of gold this year, 150,000 ounces in 2001 and 2002, 175,000 ounces in 2003 and 185,000 ounces in 2004."

"In addition," Mr. Oppenheimer continued, "the second quarter 2000 produced some very encouraging news regarding the Cristinas 4 and 6 concessions in Venezuela. In May of this year and again in June, bodies of the Supreme Court of Venezuela issued decisions which confirm Inversora Mael's (the Crystallex unit that has held title to the Cristinas 4 and 6 concessions since 1986) legal standing to pursue confirmation of our ownership rights to the concessions. As a result of these decisions, Mael's case can advance to a full and final hearing on the merits, and the Political-Administrative Chamber of the Supreme Court of Justice of Venezuela can now decide the issue of ownership. We look forward to a favorable resolution to this dispute, in the courts or otherwise."

During the second quarter the Company discussed its plans to develop the Las Cristinas concessions with the Government of Venezuela, once the ownership rights are confirmed. The Crystallex plan allows for a lower capital cost than Placer Dome's proposal. By dividing the project into three phases, financing required for each of the first two phases can potentially be repaid from project cash flows before the next phase begins. Due to anticipated cash flows, the third phase may not require outside financing. Gold production would increase in each phase, reaching approximately 500,000 ounces per year in phase three, with production continuing through 2024 and possibly beyond. The three phase plan is economically viable under the current market conditions.

"We are pleased with the progress Crystallex made in the second quarter and we look forward to continued growth as we execute our strategy," Mr. Oppenheimer said.

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.

Financial results for the three and six months periods are reported in the attached table.