For Immediate Release

TORONTO, ONTARIO, June 22, 2006 – Crystallex International Corporation (TSX: KRY) (Amex: KRY) - today announced that its Board of Directors (the “Board”) has voted to adopt a new shareholder rights plan (the “Rights Plan”) replacing the original Shareholder Rights Plan of the Corporation dated March 10, 1997 (the “Original Rights Plan”), which expired on the termination of the Corporation’s 2006 annual and special meeting of shareholders.  The Rights Plan is being adopted in order to reflect developments in Canada with respect to shareholder rights plans which have occurred since the Original Rights Plan was developed and to ensure the fair treatment of shareholders in connection with any take-over bid for the Corporation and to provide the Board and shareholders with sufficient time to fully consider any unsolicited take-over bid.  The Rights Plan also provides the Board with time to pursue, if appropriate, other alternatives to maximize shareholder value in the event of a take-over bid.

The Rights Plan is not being adopted in response to any proposal to acquire control of the Corporation and is not intended to prevent take-over bids.  Under the Rights Plan, take-over bids which meet certain requirements intended to protect the interests of all shareholders are deemed to be “Permitted Bids”.  Permitted Bids must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and, among other conditions, must remain open for sixty days.

The Rights Plan is similar to other shareholder rights plans recently adopted by other Canadian corporations.  Until the occurrence of certain specific events, the rights will trade with the common shares of the Corporation and be represented by the share certificates for such shares.  The rights become exercisable only when a person, including any party related to or acting jointly or in concert with such person, acquires or announces its intention to acquire 20% or more of the outstanding common shares common shares of the Corporation without complying with the “Permitted Bid” provisions of the Rights Plan.  Should a non-permitted acquisition occur, each right would entitle each holder of common shares (other than the offeror or certain parties related to it or acting jointly or in concert with it) to purchase additional common shares of the Corporation at a 50% discount to the market price of the shares at that time.

Although the Rights Plan will take effect immediately in accordance with applicable regulatory requirements, the Corporation will submit the Rights Plan for confirmation at a special meeting of shareholders to be held within the next six months.  Thereafter, the Rights Plan will be subject to reconfirmation at every third annual meeting of shareholders thereafter until its expiry on June 22, 2016.  If the shareholders do not confirm the Rights Plan, the Rights Plan will terminate and cease to be effective at that time.

About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company’s principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2008 at an initial annualized rate of some 300,000 ounces. Other assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY) Exchanges.

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