Toronto – Crystallex International Corporation (TSX, Amex : KRY) today announced that it proposes to seek approval to the amend the terms of certain warrants issued in connection with private placement financings completed by Crystallex in March and April 2001.

Crystallex proposes to extend the expiry date from March 20, 2003 to March 20, 2004 for 190,000 warrants, from April 4, 2003 to April 4, 2004 for 77,220 warrants and from April 26, 2003 to April 26, 2004 for 1,685,647 warrants.  All warrants were issued to arm’s-length investors, and are exerciseable for common shares of Crystallex.  All other terms of the warrants not relating to the extension of the respective exercise periods will remain the same.

The proposed amendments are subject to the approval by the warrantholders in accordance with the terms of the warrants. The proposed amendments will become effective on April 4, 2003.

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 under the symbol KRY. Crystallex has been focused on strategic growth in South America and recently signed a definitive agreement with respect to the Las Cristinas mining properties in Venezuela and has taken possession of those properties. Crystallex is currently working on the final feasibility study to support its development plans for Las Cristinas.
 
For Further Information:
Investor RelationsContact: A. Richard Marshall, VP at (800) 738-1577
Visit us on the Internet:  http://www.crystallex.com
Email the Company 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.