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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (11513)	6/30/1998 1:44:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

Misc. / Nova Corp. Clarifies Story Regarding Methanex Corp. NOVA CORPORATION CLARIFIES MEDIA STORY REGARDING METHANEX CORPORATION CALGARY, June 29, /CNW/ - A story filed at 3:15 p.m. EDT on the Dow Jones newswire service (titled, ''NOVA Holders Vote 99.89% in Favor of Merger'') contains a misinterpretation regarding NOVA Corporation's intent with respect to its 27% interest in Methanex Corporation. The story contains the following paragraph: ''NOVA vice chairman and chief executive Ted Newell (sic) told reporters after the meeting that NOVA Chemicals would like to increase its stake in Methanex Corp (MEOHF) to 100% from its current interest of about 25%, and is currently looking for a way to do so. He didn't elaborate.'' NOVA Corporation wishes to clarify the Dow Jones story as follows: -- In a media briefing following NOVA's annual and special meeting, NOVA Chemicals President and CEO Jeff Lipton responded to a question regarding NOVA's intention for its holding in Methanex. -- Mr. Lipton indicated that NOVA would consider the opportunity to increase its interest in Methanex to 100%, but would only do so if the transaction would add value to the shareholders of Methanex and the shareholders of NOVA. This statement of NOVA's intent with regard to its interest in Methanex is consistent with NOVA's previous statements on the subject, and does not in any way represent a change in NOVA's intent with respect to its investment.