Crystallex Prices US$100 Million Debt Offering for Las Cristinas Project

12/17/2004

TORONTO, Dec 17, 2004 -- Crystallex International Corporation (TSX:KRY) (AMEX:KRY) announced today that it has priced and entered into an underwriting agreement in respect of a U.S.$100 million offering of units. The units may also be sold on a private placement basis in jurisdictions outside of Canada.

Each unit will comprise U.S.$1,000 principal amount of senior unsecured notes due December 2011 and 65 common shares of Crystallex. The notes will bear interest at the rate of 9.375% per year and will not be convertible. The units will separate into notes and common shares immediately upon issue.

The aggregate number of Crystallex common shares issuable pursuant to the terms of the offering is 6,500,000 which represents approximately 3.5% of the currently issued and outstanding common shares of Crystallex.

Crystallex plans to use the net proceeds of the offering to fund the development of the Las Cristinas project.

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

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

Crystallex International Corporation (TSX:KRY) (AMEX:KRY)

SOURCE: Crystallex International Corporation

CONTACT: A Richard Marshall, Vice-President Investor Relations

Tel: 1.800.738.1577 or email: info@crystallex.com