TORONTO – Crystallex International Corporation (TSX, AMEX: KRY) announced today that it has closed a private placement of 4,545,455 special warrants at a price of US$2.20 per warrant for aggregate proceeds of approximately US$10 million.  The special warrants were placed with a US accredited investor and entitle the holder, upon exercise and without payment of any additional consideration, to acquire one common share per warrant.  As part of the transaction, the purchaser of the special warrants also received purchase warrants to acquire up to 2,272,727 additional common shares of Crystallex.  Each purchase warrant entitles the holder to acquire one common share at an exercise price of US$2.75 per share for a three-year period.

The securities sold have not been registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Proceeds of the offering will be used by Crystallex for working capital purposes and to advance its gold mining projects in the Bolivar State, Venezuela.      

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. The 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: mail@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.