VANCOUVER, BC - Crystallex International Corporation (symbol KRY on TSE and Amex) announced today that the Ontario Municipal Employees Retirement Board ("OMERS") has purchased an approximate 3% stake in the Company and that Kilmer Van Nostrand Co. Limited ("Kilmer") has purchased approximately 1.2% of the Company.  The private placement consisted of 3,111,111 units at a price of C$2.25 raising proceeds of C$7,000,000.  Each unit is comprised of one common share and one common share purchase warrant.  The warrants entitle the holder to acquire one common share at a price of C$3.00 until December 24, 2003.  In certain limited circumstances, the term of the warrants may be extended.  The proceeds will be used for general corporate purposes and to boost the Company's working capital as it increases its Venezuelan activities.

Since 1962, OMERS has been a leader in the pension industry, and has grown into one of the largest, most competitive and cost-effective pension plans in Canada, managing about C$36 billion in assets.  Kilmer is a private investment holding company, based in Toronto, Canada, with investments in several principal areas, including construction, electronics manufacturing and sports/entertainment.

Commenting on the investment, Marc J. Oppenheimer, President and CEO said, "We are quite pleased to welcome quality institutions such as OMERS and Kilmer as new Crystallex shareholders.  Both organizations have well known reputations as being long-term, strategic investors.  We are gratified that this investment, along with our recent inclusion by Standard and Poor's in the TSE-300 Index, illustrates the increasing awareness of our growth objectives and the achievements we have made to date."   Regarding the Company's growth plans, Mr. Oppenheimer stated, "We have laid a solid foundation which is allowing us to build multiple growth engines.  Our debt/equity ratio remains conservative, and accordingly, I believe we will be able to limit shareholder dilution as we enter the next phase of our plans.  Our continuing investments in Venezuela will lead to enhanced cash flows and further growth in the years ahead."

About Crystallex:
Crystallex International Corporation is an emerging gold mining company. The Company owns or controls a number of strategic properties in South America. Crystallex'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

For Further Information:
Contact:  A Richard Marshall, VP at  (201) 541-6650 or Andrea Boltz at (604) 683-0672

To receive previous Company releases:  (800) 758-5804  ext.114620

Visit us on the Internet:  http://www.crystallex.com

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 any responsibility for the adequacy or accuracy of this news release.