NOVA Chemicals Expects Growing Strength in 2008

TORONTO--(Business Wire)--
NOVA Chemicals (NYSE:NCX)(TSX:NCX) Chief Executive Officer,
Jeffrey M. Lipton today described record performance for the company
in 2007 and a positive outlook for 2008 and beyond. Speaking at the
company's annual shareholder meeting in Toronto, Lipton discussed the
outlook for NOVA Chemicals.

"NOVA Chemicals' results in 2007 were outstanding and proved that
we are able to outperform, even in a high-cost crude oil environment,"
said Lipton. "Looking forward, I believe the core of our business will
be strong into 2009, despite concerns about the U.S. economy."

Also at the annual meeting, the shareholders elected the following
directors, all of whom were previously serving as directors, for a
one-year term: Jerald. A. Blumberg, F. Peter Boer, Jacques Bougie,
Joanne V. Creighton, Robert E. Dineen Jr., L. Yves Fortier, Kerry L.
Hawkins, Jeffrey M. Lipton, Arnold M. Ludwick, Christopher D. Pappas
and James M. Stanford.

Shareholders also approved the reappointment of Ernst & Young LLP
as auditors of the company.

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

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.

Forward-Looking Information

This news release contains forward-looking information with
respect to NOVA Chemicals' positive outlook for 2008 and beyond,
including the statement that NOVA Chemicals believes that the core of
its business will be strong into 2009, despite concerns about the U.S.
economy. By its nature, forward-looking information requires NOVA
Chemicals to make assumptions and is 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 information 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 information is
expressly qualified in its entirety by this cautionary statement. In
addition, the forward-looking information is 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 this
forward-looking information to reflect new information, subsequent
events or otherwise.

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

Copyright Business Wire 2008