INEOS NOVA Joint Venture Approved by Federal Trade Commission



    PITTSBURGH, September 10 /CNW/ - NOVA Chemicals Corporation
(NYSE:  NCX)(TSX:NCX) today announced that the U.S. Federal Trade Commission has
approved the previously announced INEOS NOVA joint venture. The joint venture
is expected to commence operations on October 1, 2007.

    NOVA Chemicals will host a conference call and analyst meeting at 10 a.m.
EDT, September 19 in New York City, where company President and CEO Jeffrey M.
Lipton will describe plans and expectations for the joint venture and the
outlook for the styrenics industry. Information on the conference call and
webcast of the meeting is available at www.novachemicals.com in the Investor
Center under IR Calendar.

    NOVA Chemicals produces plastics and chemicals that are essential to
everyday life. Our employees develop and manufacture materials for customers
worldwide that produce consumer, industrial and packaging products. NOVA
Chemicals works with a commitment to Responsible Care(R) to ensure effective
health, safety, security and environmental stewardship. Company shares are
traded on the Toronto and New York stock exchanges as NCX.

    Visit NOVA Chemicals on the Internet at www.novachemicals.com.

    Forward-Looking Information

    The information in this news release contains forward-looking statements,
including the statement that the joint venture with INEOS is expected to
commence operations on October 1, 2007. By their nature, forward-looking
statements require NOVA Chemicals to make assumptions and are subject to
inherent risks and uncertainties. There is significant risk that predictions,
forecasts, conclusions and projections will not prove to be accurate, that
NOVA Chemicals' assumptions may not be correct and that actual results may
differ materially from such predictions, forecasts, conclusions or
projections. Some of the risks that could affect NOVA Chemicals' future
results and could cause results to differ materially from those expressed in
the forward-looking statements include: uncertainties regarding commodity
chemicals price levels (which depend, among other things, on supply and demand
for these products, capacity utilization and substitution rates between these
products and competing products); feedstock availability and prices; operating
costs; starting up and operating facilities; the impact of competition;
uncertainties associated with the North American, South American, European,
and Asian economies and other risks detailed from time-to-time in the publicly
filed disclosure documents and securities commissions reports of NOVA
Chemicals. NOVA Chemicals' forward-looking statements are expressly qualified
in their entirety by this cautionary statement. In addition, the
forward-looking statements are made only as of the date of this news release,
and except as required by applicable law, NOVA Chemicals undertakes no
obligation to publicly update these forward-looking statements to reflect new
information, subsequent events or otherwise.

    Responsible Care(R) is a registered trademark of the Canadian Chemical
Producers Association (CCPA) in Canada and is a registered service mark of the
American Chemistry Council (ACC) in the United States.




For further information:

For further information: NOVA Chemicals Corporation Media inquiries,
please contact: Greg Wilkinson, 412-490-4166 Vice President, Public Affairs
E-mail: wilkinga@novachem.com or Investor Relations inquiries, please contact:
Chuck Magro, 412-490-5047 Vice President, Investor Relations E-mail:
magroc@novachem.com

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NOVA CHEMICALS CORPORATION

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