Jason-299789 (1/29/2013)
This URL may explain it better http://sqlinthewild.co.za/index.php/2009/08/17/exists-vs-in/
I believe that this article explains better this situation
http://sqlinthewild.co.za/index.php/2010/02/18/not-exists-vs-not-in/
The article is really interesting and worth reading but the conclusion is this:
"Most importantly, NOT EXISTS and NOT IN do not have the same behaviour when there are NULLs involved."
Your task is to read it to understand why.;-)