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NOVA CORPORATION OF ALBERTA FILE NOTICE OF INTENTION

 CALGARY, Alberta, March 4 /PRNewswire/ -- NOVA Corporation of Alberta (NYSE: NVA, Toronto, Montreal, Calgary: NVA.) announced today that it has filed a notice of intention to make a normal course issuer bid with The Toronto Stock Exchange and that the exchange has accepted the notice of intention. Under the bid, the corporation will have the right to purchase, commencing on March 8, 1993, up to a maximum of 2,500,000 of its common shares (representing approximately 0.6 percent of the 406,501,426 common shares of the corporation issued and outstanding as of Feb. 26, 1993) over the following 12 months through the facilities of the exchange. The normal course issuer bid will remain in effect until the earliest of March 7, 1994, the corporation providing notice of termination, or until the corporation has purchased the maximum number of shares permitted under the bid. The corporation has never previously made a normal course issuer bid.
 Management and the directors of the corporation believe that common shares of the corporation may become available during the proposed purchase period at prices which would make them attractive purchases for the corporation.
 Any purchases of common shares pursuant to the bid will be made on the open market through the facilities of the exchange at prevailing market prices.
 The acceptance for filing of the notice of intention to make a normal course issuer bid is subject to compliance with the regulatory requirements of The Toronto Stock Exchange.
 -0- 3/4/93
 /CONTACT: W.N. (Bill) Rowe of NOVA Corporation of Alberta, 403-290-7807/
 (NVA)


CO: NOVA Corporation of Alberta ST: Alberta IN: OIL SU:

BP-LS -- LA031 -- 3206 03/04/93 17:56 EST
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Publication:PR Newswire
Date:Mar 4, 1993
Words:280
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