Located in Venezuela's Bolivar State, the Tomi concession at March 1, 2000, reportedly contained open-pit mineable reserves of 263,000 ounces of gold. The current reserves, located in four pits: McKenzie, Charlie Richards, Milagrito and Fosforito would be sufficient to support a mine life of four years. In addition to the concession's open-pit reserves, drilling conducted by Bolivar Goldfields below the Charlie Richards pit has intersected several high grade intervals including gold values of 6.06 grams per tonne over 65 metres, 17.39 grams per tonne over 21 metres and 11.25 grams per tonne over 28 metres, indicating a strong potential for underground mining. Previous gold occurrences also indicate excellent exploration potential on other parts of the Tomi concession as well as on the Dividival and Belen concessions.

Subject to due diligence, and regulatory and board approvals, Crystallex will purchase the Venezuelan assets for U.S.$10.5 million cash and the assumption of up to U.S.$13 million in existing long-term debt associated with the assets. Additionally, Crystallex and Bolivar will exchange two-year warrants to purchase 1.0 million common shares in each other's capital, at a 40 percent premium over the average closing price of each company's stock for ten trading days prior to acceptance of the offer.

According to Crystallex President and Chief Executive Officer, Marc J. Oppenheimer, the Company intends to finance the acquisition through lines of credit as well as non-recourse project financing. "We have already obtained an expression of interest from our bank for restructuring the debt associated with Bolivar's Venezuelan assets," Mr. Oppenheimer said.

"This acquisition will do more than increase our gold production, reserves and exploration potential," Mr. Oppenheimer continued. "It will be a significant addition to Crystallex's already sizable commitment to Venezuela and is consistent with our plans to work with the Venezuelan government to develop the country's natural resources efficiently and profitably. Our long-term working relationship with the people and government of Venezuela has provided us with a unique knowledge about the region that will be a great benefit in developing these mineral properties. In addition, the strategic location of the concessions and particularly the mill may also provide opportunities to develop efficiencies between this and other projects in Venezuela," Mr. Oppenheimer said.

About Crystallex
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.

About Bolivar
As previously announced, Bolivar has signed a letter of intent to purchase all of the issued and outstanding shares of Champion Computer Corporation, which specializes in providing the IT infrastructure for Web-based companies, Fortune 1000 corporations and the midsize business market. Champion has formed a relationship with IBM to create a dedicated IBM storage solutions practice, known as "Time to Content", which allows ISP's, ASPs and business customers to meet their rapidly growing storage and content needs by providing IBM storage, servers and software that connect to other, nationally available, non-IBM servers. Bolivar intends to dedicate its resources to building and developing a Storage Services Provider ("SSP") practice around Champion's "Time to Content" methodologies.

In February, 2000, Bolivar made the decision to exit the gold sector in order to focus on technology-related investments, which has resulted in the execution of the Champion transaction. This disposition of Tomi and the acquisition of Champion will constitute a change in business for Bolivar, and as a result it will have to meet original TSE listing requirements in order to maintain its listing once the Tomi mine is sold. Bolivar believes that the Champion business meets these requirements.

Bolivar continues to hold 10,175,000 shares of Wavve Telecommunications, Inc., representing approximately 15% of Wavve's issued and outstanding capital.

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.