INEOS NOVA joint venture approved by Federal Trade Commission

Pittsburgh, PA - NOVA Chemicals Corporation (NYSE, 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® to ensure effective health, safety, security and environmental stewardship. Company shares are traded on the Toronto and New York stock exchanges as NCX.