Crystallex Announces Equity Financing.

Business Editors

TORONTO--(BUSINESS WIRE)--March 17, 2004

Crystallex International Corporation (AMEX:KRY) (TSX:KRY) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in Ontario, British Columbia, Alberta, Manitoba, Nova Scotia and Newfoundland and Labrador in respect of an offering of common shares to raise approximately Cdn$100 million. Common shares may also be sold on a private placement basis in jurisdictions outside of Canada. The offering will be conducted through a syndicate of underwriters.

Crystallex plans to use the net proceeds from the financing to fund predevelopment costs at the Las Cristinas Project in Venezuela and capital expenditures and development costs at Crystallex's existing operations.

The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the American Stock Exchange.

This press release is not an offer to sell or the solicitation of an offer to buy the common shares, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The common shares being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such common shares may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.

The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.