» Joint Letter
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   Shareholders
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   Shares

NOVA Chemicals shares are listed on both the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the trading symbol NCX.

You can buy or sell NCX shares through a stockbroker, bank or a financial institution that provides this service.

A registered shareholder owns a share certificate that indicates the number of shares held in the company. Registered holders can manage their shareholder account through NOVA Chemicals' transfer agent, CIBC Mellon Trust Company.

A non-registered or beneficial shareholder is a holder who purchased shares through a stockbroker, bank or a financial institution and the shares remain on account with the institution. They are held in the name of the institution. The holder would not be in possession of a physical share certificate. Non-registered holders would deal directly with their institution on any inquiries regarding their NCX shareholdings.

The current dividend rate per common share is $0.10 CAD. Dividends are declared at the discretion of the NOVA Chemicals Board of Directors on a quarterly basis. Historically, dividends have been paid on the 15th day of February, May, August and November.

Dividends paid to non-resident shareholders are subject to Canadian withholding tax, generally at the rate of 15% for the United States and other countries where Canadian tax treaties apply, and 25% for non-treaty countries. Certain exemptions or refunds may be available to residents of the United States and other countries where Canadian tax treaties apply. Under regulations in effect in the United States, the Company is generally subject to the U.S. back-up withholding rules, which would require withholding at a rate of 28% on dividends and interest paid to certain U.S. persons who have not provided the Company with a taxpayer identification number. Please consult your tax advisor for more information.

If you are a registered holder, please contact our transfer agent (inquiries@cibcmellon.ca). If you are a non-registered holder, please contact the institution through which your shares are held.

NOVA Chemicals does offer Direct Deposit of dividends to Canadian resident shareholders. Please contact our transfer agent (inquiries@cibcmellon.ca) for further information about this service.

NOVA Chemicals does not currently have a Dividend Reinvestment and Share Purchase Plan nor do we have any form of Direct Purchase Plan. Although we have no current initiatives to institute either of these plans, should we decide to do so, shareholders would be advised by mail and given the opportunity to enroll.

Since becoming a public company in July 1998, there have been no stock splits involving NOVA Chemicals' common shares.

The Class "A" Common shares of NOVA Chemicals' predecessor, NOVA Corporation (formerly known as The Alberta Gas Trunk Line Company Limited, Nova, An Alberta Corporation and NOVA Corporation of Alberta) were split on the following dates:

September 29, 1972, on a 4 for 1 basis

February 16, 1981, on a 3 for 1 basis

The splits were handled on a "push-out" basis where shareholders were mailed the additional shares to which they were entitled.

December 22, 1971 - Valuation Day Price of The Alberta Gas Trunk Line Company
    Limited Class "A" Common shares was $49.75 CAD per share.

February 22, 1994 - Elimination of the $100,000.00 CAD lifetime capital gains.
    Valuation Day Price was $9.50 CAD per share.

The cost base for NOVA Chemicals' common shares originally issued as a result of the merger in July 1998 was $27.85 CAD or $20.89 USD.