Novelis Announces OSC Management Cease Trade Order And Provides Status Update

ATLANTA, Nov. 21 /PRNewswire-FirstCall/ -- Novelis Inc. (NYSE: NVL; Toronto) today announced that due to a delay in filing third- quarter 2005 results, the Ontario Securities Commission (OSC) has issued a temporary order that prohibits, effective November 18, 2005, all trading by directors, officers and certain employees in the securities of the company. The Alberta Securities Commission has issued a similar order with respect to an Alberta resident director.

Novelis will provide bi-weekly updates on its business as required by the OSC in accordance with the conditions under which the management cease trade orders were issued. The company reported that there have been no other material developments since the press release of November 7, 2005. Novelis will continue to provide updates until it is current with its filing obligations under Canadian securities laws.

The Canadian Securities Administrators may impose an issuer cease trade order if the company's third-quarter financial statements are not filed before February 13, 2005. An issuer cease trade order may be imposed sooner if Novelis fails to provide bi-weekly updates.

Novelis, which was spun-off by Alcan on January 6, 2005, is the global leader in aluminum rolled products and aluminum can recycling. The Company has 36 operating facilities in 11 countries and more than 13,000 dedicated employees. Novelis has the unparalleled capability to provide its customers with a regional supply of high-end rolled aluminum products throughout Asia, Europe, North America, and South America. Through its advanced production capabilities, the Company supplies aluminum sheet and foil to the automotive and transportation, beverage and food packaging, construction and industrial, and printing markets. For more information on Novelis, visit

Statements made in this news release which describe Novelis' intentions, expectations or predictions (e.g., the amount of charges we expect to incur) may be forward-looking statements within the meaning of securities laws. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty and that Novelis' actual results could differ materially from those expressed or implied in such statements. Reference should be made to Novelis' annual report on Form 10-K and its other filings with the Securities and Exchange Commission for a discussion of major risk factors in addition to the factors set forth in this press release.

SOURCE Novelis Inc.

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