January 2006

Novelis extends exchange offer

Atlanta, GA— Novelis Inc. announced that it will extend until January 31, 2006, its offer to exchange up to $1.4 billion aggregate principal amount of its 7-1/4% Senior Notes due 2015, which were initially issued and sold in a private placement on February 3, 2005, for an equal aggregate amount of its registered 7-1/4% Senior Notes due 2015.

The original expiration date of the exchange offer was October 31, 2005. The expiration date was extended on November 1, 2005, until November 8, 2005, and extended again on November 7, 2005, until December 7, 2005. As of December 5, 2005, $1,287,653,000 of the old notes had been tendered for exchange.

As a result of the original extension announced on November 1, 2005, the Company began to accrue, beginning November 11, 2005, and until the exchange offer closes, a special interest rate on the Senior Notes equaling an additional 0.25% per annum.

The rate of special interest increases 0.25% during each subsequent 90-day period until the exchange offer closes, with a maximum special interest rate of 1.00% per annum.

Novelis expects to file a post-effective amendment after it files its third quarter financial statements, which the Company announced on November 7, 2005, would be delayed. The Company expects to continue extending the expiration of the exchange offer until after the post-effective amendment becomes effective.

Except for the extension of the expiration date, all other terms of the exchange offer remain as set forth in the exchange offer prospectus dated September 27, 2005.


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