NewsWire

TORONTO, April 7 /CNW/ -- Crystallex International

Corporation (Amex: KRY; Toronto) today responded to an April 4 press release by The Toronto Stock Exchange that the Exchange is reviewing the common shares of KRY with respect to meeting the requirements for a continued listing.

On April 3, 2003, the Company reported the restatement of Crystallex's quarterly financial statements for the quarters ending March 31, June 30 and September 30, 2002 to reflect changes in the accounting treatment of the Company's hedge program together with related changes to the comparable earlier periods.  These changes in accounting treatment followed a normal course review of the Company's US GAAP accounting policies and discussions with the Securities and Exchange Commission.  Preliminary financial statements reflecting the proposed restatement were filed on March 28, 2003 for review by the Staff of the Securities and Exchange Commission.  At the direction of the Staff of the Securities and Exchange Commission and as a pre-requisite to the further review of the financial statements, the financial statements were put on the public file notwithstanding that the review process had not been concluded and that the financial statements would be subject to further review and comment.

The Company's intention was to announce the change in accounting policy and file the restated financial statements in Canada after the review process with the Securities and Exchange Commission had been completed, its US GAAP accounting policies were agreed and the financial statements had been finalized.

On April 3, 2003, in response to a request by the TSX, Crystallex issued a public announcement about the restatement.  The Company's preference would have been to await the conclusion of any discussions with the Securities and Exchange Commission and finalization of its statements.  Concurrent with the issuance of its press release, the Company effected the filing of the preliminary financial statements on the public SEDAR files maintained by Canadian securities regulatory authorities.  The review by the TSX followed the publication on April 2nd of a newspaper article.  Crystallex has promptly responded to all Toronto Stock Exchange inquiries and requests and is cooperating with Toronto Stock Exchange officials to facilitate their review and to bring it to a conclusion.

About Crystallex
Crystallex International Corporation is a Canadian based gold producer with operations and exploration properties in Venezuela and Uruguay. Crystallex shares are traded on the TSX and AMEX Exchanges.  Crystallex has been focused on strategic growth in South America and recently signed a definitive agreement with respect to the Las Cristinas mining properties in Venezuela and has taken possession of those properties.  Crystallex is currently working on the final feasibility study to support its development plans for Las Cristinas.

Note:  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.

For further information: Investor Relations, A Richard Marshall, VP of Crystallex International Corporation, +1-800-738-1577, or info@crystallex.com Web site: www.crystallex.com

BY AMY REEVES <a href=www.investors.com>INVESTOR'S BUSINESS DAILY

The world seems like such a dangerous place these days, many people would rather stay home. But firms that depend on international trade don't have a choice in the matter.

"There's anthrax, ricin, Ebola, war, the uncertainty of the economy," said Peter Rose, chief executive of Expeditors International of Washington Inc. (EXPD) "And then the good news is - there isn't any."

Expeditors is a freight-forwarding company. It's like a travel agent for goods. It doesn't do shipping itself, but connects clients with the right shippers and smooths the way through customs and other hassles.

In troubled times like these, many companies need such firms, says analyst Jon Langenfeld of Robert Baird.

"Their ability (to grow) is going to be much better in times of change, where there's stress in the system," said Langenfeld, who has no financial relationship with Expeditors.

"That allowed companies like Expeditors to take advantage of that, and show the value of their services. Shippers are going to increasingly rely on their trusted logistics partners."

It helps that Expeditors is already one of the more trusted names in the business. Though the industry is fragmented, with no firm claiming more than single-digit market share, Expeditors is one of the top 10 in size. It's been around since 1979, and now has 167 offices all over the world.

 Image: The World Over

Another factor that boosts Expeditors' trustworthiness? It's not for sale. Although the freight industry has been consolidating for years, Expeditors has steadfastly refused to either be bought or make any major purchases itself.

"That bodes well for customers, vendors and employees because it takes away a lot of uncertainty," Rose said. "People say 'never say never' and 'everything has its price.' It's not about the greed and the avarice here. It's about growing this place and leaving a legacy for the young people coming up."

Since Expeditors depends on the quality of its service to compete with rivals, the quality and loyalty of the work force is important to Rose. He says employees did a heroic job last fall, when the longshoreman's union went on strike and shut down ports on the West Coast for two weeks. It became a logistical nightmare, as cargo ships were stranded on the ocean for days.

Overall, the strike helped the business, since customers found they needed experts like Expeditors all the more. But it greatly strained some employees, especially in Asia.

"There were people in the Hong Kong and Shanghai offices who were literally sleeping at their desks," said Rose. "I mean, taking a short nap there and going right back to work. But through all that, we came out unscathed."

The hard work did not go unappreciated. The head of the Taiwan office bought gifts at Tiffany's for all the workers as a reward.

This focus on employees and refusal to be bought may seem out of sync with business today. But Langenfeld says Wall Street appreciates Expeditors' ethic.

"I think investors recognize the power of its internal growth, the discipline of its management and have rewarded it with a premium valuation," he said. "The results are there. If you look at some other companies that have gone the acquisition route, few have been successful."

The results are indeed there. In the fourth quarter, the firm made 33 cents a share, up 32% from the prior year. Revenue grew 41% to $691.2 million.

For the year, profit rose 16% to $1.03, on 22% revenue growth to $2.3 billion.

Rose says growth has been especially strong in China, which he calls a "hot" market. Now with 20 offices on the mainland, Expeditors is pushing from the usual export-heavy coastal cities into interior centers like Xian and Chengdu. Langenfeld projects export volume growth of at least 8% per year for the foreseeable future.

Another fast-growing market is more of a surprise: Latin America.

"It's quite an accomplishment with everything going on - the devaluation of the peso in Argentina, the internal strife in Venezuela. And the Brazilian economy wasn't all that good," said Rose. "Yet we came out of it rather well."

The firm has been having a little more trouble in Europe, which takes up about a quarter of the business. Although the financial performance has been solid, management felt it was losing out on potential business because workers didn't have enough of Expeditors' service-oriented culture. A series of regional meetings helped with the problem, Rose says.

"It was a revitalization," he said. "We were trying to get everybody on the same page. It was a reaffirmation of the culture, which we thought had been lacking."

Expeditors doesn't do a huge amount of business in the Middle East, but it's had to make some adjustments for the war. Air routes have been rerouted to avoid trouble spots. Not surprisingly, the Kuwait office has been pretty quiet. But Rose takes comfort in the fact that the same thing is happening to his competitors.

"We're doing no worse than anybody else," he said. "We just want to see it over with."

Analysts expect Expeditors to make $1.20 a share this year, up 17% from last year. Next year they see profit up another 17% to $1.40

<a href=new.stockwatch.com>Stock Watch 2003-04-03 11:43 ET - News Release

LOS ANGELES, April 3, 2003 (PRIMEZONE) -- Sonoran Energy (OTCBB:SNRN) is scheduled to be featured on MacReport.Net to increase its exposure to the investor community. Sonoran Energy has had a very positive recent history and is poised for growth and expansion. The MacReport.Net is an information and media company that provides a Web-based forum for public and private issuers to communicate corporate audio and video news content to the business, financial and investing community through its Web site, located at www.macreport.net. The MacReport.Net also plans to provide creative and production services to develop visual events ranging from live coverage of merger announcements to public relations campaigns to new product introductions.

Sonoran recently announced that it had acquired working interests in three natural gas producing properties in California's Sacramento Basin from Archer Exploration, Inc. Sonoran Energy has acquired varying percentages in the three properties that are producing 3,700 Mcf/day. These acquisitions increase the Company's natural gas production and reserves, and move Sonoran Energy closer to its goal of producing 2,500 to 5,000 Mcf/day. Through its partnership with Longbow LLC the Company intends to continue to make acquisitions over the next 12 to 24 months to reach this goal and enable the Company to become a producer of 1,000 to 1,500 BOE per day. Domestic U.S. Oil producers like Sonoran Energy, Inc. are positioned to significantly benefit from rising demand for U.S. domestic oil production in light of the brewing International oil production crisis due to war, strikes, and terrorist threats.

Just this week, the Nigerian subsidiaries of Royal Dutch/Shell Group (NYSE:RD) (NYSE:SC), ChevronTexaco Corp. (NYSE:CVX) and TotalFinaElf (NYSE:TOT) halted production totaling 817,500 barrels a day, or about 40% of Nigeria's output of some 2 million b/d amid violence between rival ethnic groups, the Ijaws and Itsekiri, leading up to April 19 parliamentary and presidential elections. Militant Ijaws reportedly threatened to blow up multinational oil installations they said they had captured in retaliation for government military raids. Additionally, Oil-well firefighters from Houston-based Boots & Coots International Well Control (AMEX:WEL) are traveling to southern Iraq to assess damage in the country's key Rumaila oil fields. The firefighting teams are looking at a timetable of 30 to 45 days to extinguish the fires and cap the wells. But one source said the timing will depend on "what's all there." The Pentagon has contacted a number of major oil industry service companies -- among them Halliburton Co. (NYSE:HAL), once run by Vice President Dick Cheney -- to repair any of Iraq's wells that are damaged and assess everything from wells to pipelines and pumping stations.

Venezuela's oil industry collapsed in December, when employees at state-owned Petroleos de Venezuela walked off the job, angry about changes in the company under the administration of President Hugo Chavez. By the height of the strike, 16,000 employees had walked out, and production shrank to 200,000 barrels a day, costing Venezuela $6 billion. The country had to import fuel to keep vehicles moving, and drivers waited days at gas stations. The strike, which failed to oust Chavez or call early elections, was strongest in the oil sector, though businesses around the country shut down.

About Sonoran Energy, Inc.

Sonoran Energy's primary objective is to identify, acquire and develop working interest percentages in smaller, underdeveloped oil and gas projects that do not meet the minimum requirements of major oil and gas corporations. Sonoran Energy's goal is to be recognized as a promising junior oil and gas producer. Sonoran Energy looks for opportunities with the following criteria: low cost, undervalued and a high rate of return. These projects must include close access to commercial distribution and modern application of oil and gas engineering technology. Management is targeting projects that represent substantial growth with minimum exposure and a low-cost entry. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve 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.

CONTACT: Sonoran Energy John Punzo (866) 599-7676 info@sonoranenergy.com

Press Release Source: Biotech Holdings Ltd. Thursday April 3, 9:00 am ET

VANCOUVER, April 3 /PRNewswire-FirstCall/ - Robert Rieveley, President of Biotech Holdings (the "Company", BIOHF.OB: OB; BIO.V) announced today that the Company has filed with the TSX Venture Exchange for issuance of 10 million warrants, at $.10 per share. The warrants are to be issued to creditors of the Company in consideration of their extending the time for repayment of $3,108,077 of loans that they have advanced to Biotech Holdings.

ADVERTISEMENT "Our funding sources have indicated their willingness to accept Convertible Share Purchase Warrants in exchange for extending the time period for repayment of their demand loans for twelve months. We believe that this is a favorable arrangement for Biotech and have accepted this offer to ensure our ongoing operations," Mr. Rieveley said.

Biotech Holdings has developed a prescription drug trademarked as "Sucanon" for the treatment of Type II Diabetes. Sucanon is an insulin- receptor sensitizer, a new class of drugs for controlling the chronically high blood sugar levels that typify diabetes. The drug, in tablet form, works by improving patients' ability to utilize insulin, the hormone that controls blood sugar levels. Type II Diabetes affects more than 17 million people in North America, over 20 million in Latin America and over 150 million worldwide.

Sucanon is currently in regulatory review in Mexico, where it was submitted in September 2001. Sucanon, also known as DIAB II, has been approved as a prescription treatment of Type II Diabetes in Peru and China and is on sale in China on a test-market basis. Biotech Holdings has also signed distribution agreements for the drug for Chile, Venezuela and Argentina and is looking forward to making regulatory application for Sucanon in these jurisdictions as well as in Brazil, where the Company has conducted a clinical trial of Sucanon.

Biotech Holdings Ltd.'s head office and laboratory facility is in Richmond, British Columbia. Biotech Holdings' shares trade on the Over the Counter Bulletin Board in the United States (BIOHF.OB) and on the TSX Venture Exchange in Canada (BIO.V). For inquiries, contact Austin Rand at Biotech Holdings Ltd., 1-888-216-1111 (toll-free), 8 a.m. to 5 p.m. Pacific time, orby e-mail at biotech@direct.ca; For background information and current stock quotations, please visit Biotech's website at www.biotechltd.com.

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

Thursday April 3, 11:05 PM (This article was originally published Wednesday) By Charles Roth Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Notwithstanding the way the war in Iraq has been whipsawing global financial markets recently, emerging market assets appear well positioned to ultimately ride the volatility higher in the months ahead.

Emerging market fund managers and strategists say cheap stocks and high-yielding bonds, coupled with solid economic growth prospects, all bolster the case for the asset class.

"If we get some form of (Iraq) resolution over the next couple months, then we will see a huge rally in all markets," said Allan Conway, head of global emerging markets fixed-income and equities at WestAM in London.

After a great run last year and so far this year, emerging market bonds still remain attractive. But the asset class's equities look set to offer the wildest ride, with the war and its aftermath driving the swings.

Once U.S. forces take Baghdad, from which they are now within 30 miles, according to the Pentagon, stocks are expected to soar.

"Then the question will be how sustainable is the rally? For that we'll have to look at the global economy," Conway said, adding that indicators point to weakness in the U.S., the European Union and Japan.

While emerging market stocks aren't likely to fly as high as developed market equities, they won't give as much back, he said, explaining that "valuations are extremely attractive" compared to the fair value or still-rich levels at which much of Wall Street still trades.

Tim Love, emerging market strategist at Deutsche Bank in London, agreed. "We're very bullish on a relative basis as they (emerging market stocks) enter their fifth year outperforming" the Morgan Stanley Capital International's All Country World Index, he said.

In addition to lower volatility, emerging market stocks "still have extreme support from valuations...indicative of the positive upside yet to go in the asset class," he added.

Brad Durham, a managing director at Massachusetts-based Emergingportfolio.com Fund Research, which tracks fund flows, pointed to data indicating that the forecast average emerging markets 2003 price-to-earnings ratio is 8.3. That's markedly cheaper than the double digit ratios at which most of Wall Street's stocks trade.

Even if U.S. economic growth accelerates in the second half, as anticipated, faster growth in emerging markets should provide a more solid foundation for appreciation in their asset prices.

WestAm's Conway, whose fund manages $750 million in fixed-income and equity investments across emerging markets, said most emerging market economies will expand between 3.5% to 6% this year. The World Bank expects developing countries to grow 4% in 2003, up from 3.1% in 2002. The range clearly outstrips the consensus 2.6% U.S. growth forecast, as well as the World Bank's 2.3% global growth projection for 2003.

A Wall Street-based trader of American Depositary Receipts from Asia said a number of Asian stocks are poised to rise on the back of several factors: robust growth in places such as China, India and Thailand; budget surpluses; improved corporate governance; hefty international reserves; falling dollar-denominated debt levels; and a willingness of Asian monetary and fiscal authorities to employ counter-cyclical measures to ramp up economic growth. At the same time, inflationary pressures remain benign.

One possible damper on growth, particularly in Hong Kong, Vietnam, Singapore and ultimately perhaps even China may be the recent outbreak of severe acute respiratory syndrome, or SARS, a highly contagious, little understood and potentially fatal illness.

Overall, Love said Deutsche Bank finds the Asia story compelling, and recommends adding weight in Asian equities.

WestAm's Conway, though, is less bullish on Asia, with an overweight only in Thailand, which is so far this year the only Asian equity market to post a gain in dollar terms - rising 5.5% on the MSCI index.

Outside Asia, Conway's overweight equity positions include Brazil, Chile and Russia.

Brazil has indeed turned into a popular play thanks to dirt-cheap valuations, its large market and the view that leftist President Luiz Inacio Lula da Silva, who took the helm at the beginning of the year, is sticking to orthodox economic policies.

"There's lots of positive news out of Brazil," said Tim Ramsey, an emerging market strategist at Bear Stearns in New York. "It should outperform in a resolution of the war in line with U.S. objectives."

Ramsey is recommending the South American giant's industrial exporters and sectors in which the government has a "lighter regulatory touch" such as the wireless telecommunications sector.

Views are more mixed, though, on Mexico and Russia, two other emerging market giants.

Conway is underweight Mexico, while Love likes the outlook for the country.

Love points out that despite its recent strengthening, Mexico's currency is still undervalued, which should help its exporters and producers for the domestic market. And market capitalization is less than 20% of gross domestic product, compared to 70% at its peak, he said.

Others, such as Bear Stearns' Ramsey, note that while Mexican stocks may be cheap historically, they don't have many drivers for growth, with structural reform initiatives stalled by divided legislative and executive branches, and likely continued political infighting even after July mid-term elections.

And without faster growth in the U.S., which absorbs more than 80% of Mexican exports, the country's stocks, which trade at a 2003 forward-looking P/E of 11.2, or more than double Brazil's forecast P/E this year, may not see as much upside as other emerging market stocks.

Russian equities, despite giant gains last year, are still attractively valued. But like the country's bonds, performance hinges predominantly on the price of oil. Love is neutral Russian stocks, while Bear Stearns' Ramsey is "very wary" in a "climate in which oil prices are falling."

As U.S. forces advance on Baghdad and oil fields in Iraq are increasingly secured, oil prices have tumbled to nearly $28 a barrel for May delivery from a high of almost $40 a barrel in the prelude to the war.

Falling oil prices could also spell trouble for sovereign credits such as Venezuela, Colombia, Ecuador and Nigeria, and don't much help Mexico, which sources about a third of its public income from oil and related taxes.

But lower energy costs, in addition to facilitating growth in the U.S. and Europe, will also help oil importers such as Brazil, Chile, Turkey and Northeast Asia. For these countries, cheaper oil may ease inflationary pressures, and could even prompt monetary authorities to lower interest rates, which would make corporate borrowing and debt servicing easier. That, in turn, should help stocks.

If it appears that emerging market stocks are on the whole poised to gain near term, the asset class's bonds will likely still garner plenty of investor attention.

After gaining 14% last year, and 8.4% so far this year, the spread on the J.P. Morgan EMBI Plus, at about 650 basis points over U.S. Treasurys, may not contract much more near term. But, WestAm's Conway said, with yields running around 10% compared to U.S. Treasurys, "they're pretty attractive."

And spread contraction is still probable in Brazil, Ecuador, Nigeria and Argentina, he added.

-By Charles Roth, Dow Jones Newswires; 201 938 2226; charles.roth@dowjones.com