TORONTO, ONTARIO - Crystallex International Corporation (TSX, AMEX: KRY) announced today that it expects to restate its financial statements for 2000, 2001 and 2002 as soon as the Company and its auditors Deloitte & Touche complete a review of the Company's accounting for forwards and written call options for those years. The Company and Deloitte & Touche are working to quantify the adjustments that will be required to the financial statements for those years.

The Company has advised Canadian and United States securities regulators and relevant stock exchanges of this anticipated restatement. The British Columbia Securities Commission issued an order to cease trading in the Company's securities pending the filing of the restated financial statements. The Ontario Securities Commission has issued a similar order. The Toronto Stock Exchange and the American Stock Exchange have halted trading in the Company's common shares pending filing of these restated financial statements.  The Company intends to file restated financial statements as promptly as possible.

The Toronto Stock Exchange has extended until July 16 its previously announced review of the Company.

About Crystallex: Crystallex International Corporation is a Canadian based gold producer with operations and exploration properties in Venezuela and Uruguay. Crystallex shares are traded on the TSX and AMEX Exchanges. Crystallex is focused on strategic growth in South America. The Company's principle asset is the Las Cristinas property in Venezuela. A Mining Agreement gives Crystallex 100 percent control of the reserves and resources of this project. Crystallex is currently working on the final feasibility study to support its development plans for Las Cristinas.

For Further Information:
Investor Relations Contact: A. Richard Marshall, VP at (800) 738-1577
Visit us on the Internet:  http://www.crystallex.com
Email us at: info@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 responsibility for the adequacy or accuracy of this new release.