announcement

Crystallex Announces Debt Offering for Las Cristinas Project

12/9/2004

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/

TORONTO, Dec. 9 /CNW/ - 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, Quebec, Nova Scotia and Newfoundland and Labrador in respect of an offering of units to raise approximately U.S.$60 million.

Each unit will comprise U.S.$1,000 principal amount of senior unsecured notes and a limited number of common shares of Crystallex. The notes will not be convertible. The units will separate into notes and common shares immediately upon issue. The units may also be sold on a private placement basis in jurisdictions outside of Canada. The offering will be underwritten through a syndicate led by Orion Securities Inc. and Sprott Securities Inc. and including McFarlane Gordon Inc., Haywood Securities Inc., Loewen, Ondaatje, McCutcheon Limited and Maison Placements Canada Inc.

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

Todd Bruce, Crystallex President and Chief Executive Officer stated: "We are extremely pleased to bring this non-convertible debt instrument to the market as part of the overall financing package for the Las Cristinas project.
The instrument minimizes dilution to our shareholders when compared to other financing alternatives available to the Corporation and ensures the continued and timely 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.