TORONTO, ONTARIO--(Marketwire - Nov. 28, 2008) - Crystallex International Corporation (TSX:KRY)(NYSE-A:KRY) today updated shareholders and stakeholders regarding various matters concerning its business.

Ongoing Dialogue with the Venezuelan Authorities

Crystallex maintains ongoing dialogue and correspondence with Venezuelan ministries and key government officials regarding the Authorization to Affect Natural Resources (the "Permit") for the Las Cristinas Gold Project and the status of its Mine Operating Contract ("MOC"). As part of this interaction, Crystallex filed a writ with the Ministry of Environment and Natural Resources ("MinAmb") on October 24, 2008. This document supplemented Crystallex's prior appeal and requested that the Minister of MinAmb take the Vice-Minister's August 20, 2008 letter into consideration in rendering her decision on the appeal. This August 20, 2008 letter indicated that Crystallex's previous submission on August 4, 2008 complied with government guidelines on environmental and social matters and was viable from a technical perspective.

On November 28, 2008, Crystallex delivered a letter to the Government of Venezuela notifying it of the existence of a dispute between Crystallex and the Bolivarian Republic of Venezuela ("Venezuela") under the Agreement between the Government of Canada and the Government of Venezuela for the Promotion and Protection of Investments (the "Treaty").

It is Crystallex's intention to settle the dispute amicably within six months. If the dispute has not been settled amicably within six months, Crystallex has the option of submitting the dispute to international arbitration. The dispute has arisen out of MinAmb's decision dated April 14, 2008 to deny the Permit and Venezuela's subsequent media statements attributed to the Minister of MIBAM on November 5, 2008 regarding the status of the Project and the MOC.

Special Meeting of Shareholders

Crystallex held a special meeting of shareholders on November 18, 2008. At the meeting, the first two items of business, namely the approval of a stock option plan which would have permitted Crystallex to issue stock options to purchase up to 5% of Crystallex's common shares, as well as the ratification of certain option grants to directors, officers and employees, were withdrawn from consideration. The shareholders did approve the directors' share plan as described in the management information circular prepared in connection with this meeting.