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Gold/Mining/Energy : Crystallex (VSE:KRY) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Peterson who wrote (48)	3/4/1998 9:05:00 PM
From: Jeff Briley	Read Replies (2) \| Respond to of 60

<yawn> your typical response... VANCOUVER, British Columbia, March 4 /PRNewswire/ -- Crystallex International Corporation (Amex: KRY)(Toronto: KRY.) today announced that it has instructed legal counsel to commence proceedings against Asensio & Company Inc. for disseminating false and misleading statements about Crystallex and its officers. Crystallex chairman Robert Fung categorically denied Asensio's unsubstantiated allegations contained in a report dated March 4, 1998 that asserts Crystallex has "no direct or indirect interest or claim to Las Cristinas gold concessions." "We are outraged at any suggestion that Crystallex is disseminating false or misleading information in order to defraud investors and categorically and unequivocally deny the allegation," Fung said. "We note that the report makes serious allegations unsupported by facts, and then includes a disclaimer that 'Opinions expressed are subject to change without notice' and that 'accuracy in not guaranteed.' We have since learned that Asensio is a notorious short seller. Short sellers have a direct financial interest in depressing the price of the stock of companies they target." Fung said Crystallex will pursue the matter with securities commissions and regulatory bodies in the United States and Canada, including the Toronto Stock Exchange and the American Stock Exchange. Crystallex has retained the services of Cleary Gottlieb Steen Hamilton of New York with instructions to initiate proceedings against Asensio for its false and misleading statements and its efforts to manipulate the market in Crystallex's stock. "Asensio has apparently decided that its writers are better placed to adjudicate Venezuelan law than the Supreme Court of Venezuela," Fung said. "For our part, the officers and board of directors of Crystallex have always had complete confidence in Venezuela's legal system and its Supreme Court of Justice. We do note for the record that our motions to enforce ownership rights over the Las Cristinas 4 & 6 gold mining concessions in Venezuela are before the Political Administrative Chamber of the Venezuelan Supreme Court." Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near-production projects and by exploring properties of merit in other areas of the world. This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities. The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.