Operating revenue for the quarter was up 28 percent from the year earlier due to increased sales of gold from the San Gregorio Mine in Uruguay. For the Company's fourth quarter ended December 31, 1999, operating revenue was C$8,735,561, compared to C$6,802,227, reported in the fourth quarter of 1998. Operating expense was C$6,904,153 compared to C$4,296,984 for the comparable 1998 period resulting in an operating profit in the fourth quarter of C$1,831,408 before general expenses and other items. General expenses were significantly lower and interest and other income, as well as other items showed a gain as compared to the 1998 fourth quarter. Net income for the fourth quarter 1999 was C$357,615 or $0.01 per share compared with a net loss of C$1,075,715, or C$0.03 per share in the year earlier quarter.

For the year, operating revenue was C$35,907,539 an increase of nearly 320 percent over the C$8,658,748 reported for 1998. Operating expense was C$23,845,758 for the full year, 1999, compared to C$9,531,391 for 1998. General expenses were down slightly for the year. The significant increase in operating revenue and controlled general expenses, resulted in net income for 1999 of C$5,272,947 or C$0.13 per share. This compares to a net loss of C$7,215,604 or a C$0.20 per share loss for the full year 1998.

The Company benefited from the steady revenue stream derived from its first full year of operation of the San Gregorio mine, which it acquired in October 1998. Throughout 1999, Crystallex focused on increasing the productivity and efficiency at both the mine and mill. This resulted in a 70 percent increase in worker productivity at the mine, a 10 percent increase in total tonnes mined per day and a six percent increase in gold production to 77.8 thousand ounces. Even more importantly, cash costs of production were reduced some 21 percent.

Crystallex President and CEO, Marc J. Oppenheimer, stated that the Company's operation at the San Gregorio mine in Uruguay is an excellent example of its strategy at work.

"When we acquired the mine in the fourth quarter of 1998, productivity was low, maintenance was spotty and there was considerable down-time. The total cost per ounce was above $245. Our management team applied several techniques that immediately improved productivity, and by year's end we were not only producing more gold, but at a greatly reduced cost of approximately $200 per ounce. In addition, we instituted a job safety program that has dramatically reduced the number of lost-time accidents at the site. I'm very pleased with the work of our management team and encouraged that the same skill sets that have made our San Gregorio operation a success, will work equally well in developing other projects that we may be considering for future acquisition."

During the year, the Company continued to pursue enforcement of its rights to the Cristinas 4&6 concessions in Venezuela's Kilometre 88 region. These concessions contain one of the richest gold discoveries in South America. In 1997, Crystallex acquired the rights to these concessions through its purchase of Inversora Mael, the registered titleholder since 1986. In 1991, 1996 and 1997 the Supreme Court of Venezuela confirmed the validity of the transfer of the concessions to Inversora Mael. On June 11, 1998 the Venezuelan Supreme Court ruled that Mael does not have status to assert ownership rights over the Cristinas 4 & 6 concessions and refused to proceed with the action. In the opinion of counsel, prior contradictory decisions of the Venezuelan Supreme Court were not overruled by the June 11 decision. In August 1999, in efforts to further enforce our rights, Crystallex commenced legal proceedings that challenge the original legal basis on which CVG purported to confer contractual rights to exploit Las Cristinas commercially. In September 1999, Venezuela published a new mining law providing that mining privileges may only be conferred by concessions. The Placer Dome / CVG joint venture has since applied to convert its contractual rights into a concession; however it is uncertain whether this application will be granted. We believe that these concessions represent an enormous potential value to our shareholders and we will continue to pursue a favorable resolution to this issue with a goal of moving these concessions into development.

"Despite the continuing dispute regarding Cristinas, we are encouraged by the recent changes to the mining law," Mr. Oppenheimer said. If successful in enforcing our rights, the plans we have for development of these concessions are economically attractive, even in the current tough gold market, and will provide real benefits to the Venezuelan people and to our shareholders."

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 twelve months periods are reported in the attached table.

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 this release and does not accept responsibility for the adequacy or accuracy of this news release.