Expanded INEOS NOVA Joint Venture Launched

INEOS NOVA, the 50:50 joint venture between NOVA Chemicals and
INEOS, announced today it commenced expanded operations on October 1,
2007. Headquartered in Joliet, Illinois, INEOS NOVA is a leading
manufacturer and marketer of styrene and styrenic polymers in North
America and Europe.

Kevin McQuade, CEO of INEOS NOVA said, "INEOS NOVA is leading
significant change in the styrenics industry. Our company was founded
with a firm belief in the industry's potential and we are committed to
making this a reality." McQuade went on to say, "We believe that our
competitiveness depends on the success of our customers and we are
dedicated to meeting their needs."

As previously announced, INEOS NOVA is expected to generate
approximately $3.8 billion (EUR 2.7 billion) in revenue from
manufacturing sites in the United States, Canada, France, Germany, The
Netherlands, and Sweden. The venture will include production and
global sales of styrene, polystyrene, NAS(R) and ZYLAR(R) performance
polymers as well as expandable polystyrene in Europe. DYLARK(R)
polymers will not be included in the joint venture and will continue
to be manufactured and sold by NOVA Chemicals.

INEOS NOVA is committed to being recognized as the global leader
in styrenics. Our employees manufacture and market styrene and
styrenic polymers with a dedicated focus on health, safety, security
and environmental stewardship. INEOS NOVA is a joint venture of INEOS
and NOVA Chemicals.

Visit us on the internet at www.ineos-nova.com.

Photographs, maps and graphics are available upon request.

NAS(R) and ZYLAR(R) are registered trademarks of INEOS NOVA LLC.
DYLARK(R) is a registered trademark of NOVA Chemicals Inc.