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  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <P align="center" style="font-size: 10pt">AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 13, 2005
  
  
  
  <P align="right" style="font-size: 10pt">FILE NO. 333-
  
  
  
  <HR size="4" noshade color="#000000" style="margin-top: -5px">
  <HR size="1" noshade color="#000000" style="margin-top: -10px">
  
  
  
  
  
  
  
  <P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
  
  <DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
  </DIV>
  
  <P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">
  
  <P align="center" style="font-size: 18pt"><B>FORM S-8</B>
  
  
  <P align="center" style="font-size: 10pt">REGISTRATION STATEMENT<BR>
  UNDER<BR>
  THE SECURITIES ACT OF 1933
  
  <P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">
  <P align="center" style="font-size: 24pt">NOVELIS INC.
  
  
  <DIV align="center" style="font-size: 24pt"><FONT style="font-size:10pt">(Exact name of registrant as specified in its charter)<BR>
  </FONT>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="47%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="47%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top">Canada<BR>
  (State or other jurisdiction<BR>
  of incorporation or organization)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Not Applicable<BR>
  (I.R.S. Employer<BR>
  Identification Number)</TD>
  </TR>
  <!-- End Table Body --></TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">3399 Peachtree Road NE<BR>
  Suite&nbsp;1500, Atlanta<BR>
  Georgia, 30326<BR>
  (404)&nbsp;814-4200<BR>
  (Address of Principal Executive Offices, Including Zip Code)
  <P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">
  
  
  <P align="center" style="font-size: 10pt">NOVELIS CONVERSION PLAN OF 2005<BR>
  (Full Title of Plan)
  
  
  <P align="center" style="font-size: 10pt">David Kennedy, Secretary<BR>
  Novelis Inc.<BR>
  3399 Peachtree Road NE<BR>
  Suite&nbsp;1500, Atlanta<BR>
  Georgia 30326<BR>
  (404)&nbsp;814-4200<BR>
  (Name, address and telephone number, including area code, of agent for service)
  
  
  <P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">
  
  
  <P align="center" style="font-size: 10pt"><B>Copies to:</B>
  
  
  <P align="center" style="font-size: 10pt">Andrew G. Bleau<BR>
  Ogilvy Renault<BR>
  Suite&nbsp;1100<BR>
  1981 McGill College Avenue<BR>
  Montreal (Quebec) H3A 3C1<BR>
  Canada
  
  
  <P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="50%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Proposed</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Proposed</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>&nbsp;</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Maximum</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Maximum</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Amount of</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Amount to be</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Offering</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Aggregate</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Registration</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left"><B>Title of Securities to be Registered</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Registered (1)(2)</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Price Per Share (3)</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Offering Price (3)</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Fee</B><HR size="1" noshade></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Common Shares <B>(4)</B>
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">5,015,851&nbsp;shares
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">$22.65
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">$113,609,025
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">$13,372</TD>
  </TR>
  <!-- End Table Body --></TABLE>
  </DIV>
  
  
  
  <P>
  <HR size="1" width="18%" align="left" noshade>
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top">
      <TD width="1%" nowrap align="right">(1)</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="96%">Represents maximum number of Common Shares of the Registrant
  issuable pursuant to the Novelis Conversion Plan of 2005 (the
  &#147;Plan&#148;) being registered hereon.</TD>
  </TR>
  
  <TR><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD width="1%" nowrap align="right">(2)</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="96%">Pursuant to Rule&nbsp;416 of the Securities Act of 1933 (the
  &#147;Securities Act&#148;), this Registration Statement also covers such
  additional Common Shares as may become issuable pursuant to the
  anti-dilution provisions of the Plan.</TD>
  </TR>
  
  <TR><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD width="1%" nowrap align="right">(3)</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="96%">Estimated solely for calculating the amount of the registration
  fee, pursuant to paragraphs (c)&nbsp;and (h)&nbsp;of Rule&nbsp;457 of the General
  Rules and Regulations under the Securities Act, on the basis of
  the average of the high and low sale prices of such securities on
  the New York Stock Exchange on January&nbsp;11, 2005, within five
  business days prior to filing.</TD>
  </TR>
  
  <TR><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD width="1%" nowrap align="right">(4)</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="96%">One common share purchase right (a &#147;Right&#148;) will also be issued
  with respect to each Common Share. The terms of the Rights are
  described in the Shareholder Rights Plan, filed as Exhibit&nbsp;4.1 to
  Novelis Inc.&#146;s registration statement on Form&nbsp;10 dated January&nbsp;4,
  2005.</TD>
  </TR>
  
  </TABLE>
  
  
  
  <P>
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  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
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  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  
  
  
  <!-- link1 "PART I" -->
  
  <P align="center" style="font-size: 10pt"><B>PART I</B>
  
  
  
  <P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</B>
  
  
  <!-- link2 "Item&nbsp;1. Plan Information" -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;1.&nbsp;&nbsp;&nbsp;Plan Information</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The document(s) containing the information specified in Item&nbsp;1 will be sent or given to
  employees as specified in Rule&nbsp;428(b)(1) and are not required to be filed as part of this
  registration statement.
  
  <!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information" -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;2.&nbsp;&nbsp;&nbsp;Registrant Information and Employee Plan Annual Information</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The document(s) containing the information specified in Item&nbsp;2 will be sent or given to
  employees as specified in Rule&nbsp;428(b)(1) and are not required to be filed as part of this
  registration statement.
  
  <!-- link1 "PART II" -->
  
  <P align="center" style="font-size: 10pt"><B>PART II</B>
  
  
  
  <P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  
  
  <!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;3.&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents have been filed by Novelis Inc., a Canadian corporation (the
  &#147;Registrant&#148;), with the Securities and Exchange Commission (the &#147;Commission&#148;) and are incorporated
  herein by reference:
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" nowrap align="left">&nbsp;</TD>
      <TD width="2%"><FONT style="font-family: Wingdings">&#159;</FONT></TD>
      <TD>The Registrant&#146;s Registration Statement on Form&nbsp;10 dated January&nbsp;4, 2005 (the &#147;Form
  10&#148;), including the information statement filed as exhibit 99.1 thereto (the &#147;Information
  Statement&#148;), as amended;</TD>
  </TR>
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" nowrap align="left">&nbsp;</TD>
      <TD width="2%"><FONT style="font-family: Wingdings">&#159;</FONT></TD>
  <TD>The Registrant&#146;s Current Report on Form&nbsp;8-K, filed January&nbsp;7, 2005 (the &#147;Form&nbsp;8-K&#148;);
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" nowrap align="left">&nbsp;</TD>
      <TD width="2%"><FONT style="font-family: Wingdings">&#159;</FONT></TD>
      <TD>The description of the Registrant&#146;s Common Shares included in the Form&nbsp;10 and
  Information Statement, including any subsequently filed amendments and reports updating
  such description;</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" nowrap align="left">&nbsp;</TD>
      <TD width="2%"><FONT style="font-family: Wingdings">&#159;</FONT></TD>
      <TD>The description of the Registrant&#146;s Shareholder Rights Plan included in the Form&nbsp;10
  and Information Statement, including any subsequently filed amendments and reports
  updating such description.</TD>
  </TR>
  
  </TABLE>
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant with the Commission pursuant to Sections&nbsp;13(a), 13(c),
  14 and 15(d) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) subsequent to the date of
  this registration statement and prior to the filing of a post-effective amendment that indicates
  that all securities offered have been sold or which deregisters all securities then remaining
  unsold, will be deemed to be incorporated by reference in this registration statement and to be
  part hereof from the date of filing of such documents other than the portions of such documents,
  which by statute, by designation in such document or otherwise, are not deemed to be filed with the
  Commission or are not required to be incorporated herein by reference.
  
  
  <P align="left" style="font-size: 10pt">Any statement contained in any document incorporated or deemed to be incorporated by reference
  herein will be deemed to be modified or superseded for purposes of this registration statement to
  the extent that a statement contained herein or in any other subsequently filed document which also
  is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any
  such statement so modified or superseded will not be deemed, except as modified or superseded, to
  constitute a part of this registration statement.
  
  <!-- link2 "Item&nbsp;4. Description of Securities." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;4.&nbsp;&nbsp;&nbsp;Description of Securities.</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
  
  <!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;5.&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
  
  
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;6.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  Canada Business Corporations Act (&#147;CBCA&#148;), the governing act to which we are subject, provides that:
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(1)</TD>
      <TD>a corporation may indemnify a director or officer of the corporation, a former
  director or officer of the corporation or another individual who acts or acted at the
  corporation&#146;s request as a director or officer or an individual acting in a similar
  capacity, of another entity, against all costs, charges and expenses, including an
  amount paid to settle an action or satisfy a judgment, reasonably incurred by the
  individual in respect of any civil, criminal, administrative, investigative or other
  proceeding in which the individual is involved because of that association with the
  corporation or other entity.</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(2)</TD>
      <TD>a corporation may advance moneys to a director, officer or other individual for
  the costs, charges and expenses of a proceeding referred to paragraph (1). However, the
  individual shall repay the moneys if he does not fulfil the conditions of paragraph
  (3).</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(3)</TD>
      <TD>a corporation may not indemnify an individual, unless the individual:</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(a)</TD>
      <TD>acted honestly and in good faith with a view to the best
  interests of the corporation, or, as the case may be, to the best interests of
  the other entity for which the individual acted as a director or officer or in
  a similar capacity at the corporation&#146;s request; and</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(b)</TD>
      <TD>in the case of a criminal or administrative action or
  proceeding that is enforced by a monetary penalty, the individual had
  reasonable grounds for believing that the individual&#146;s conduct was lawful.</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(4)</TD>
      <TD>A corporation may with the approval of a court indemnify a person referred to
  in paragraph (1), or advance moneys under paragraph (2), in respect of an action by or
  on behalf of the corporation or other entity to procure a judgment in its favour, to
  which the individual is made a party because of the individual&#146;s association with the
  corporation or other entity as described in paragraph (1)&nbsp;against all costs, charges
  and expenses reasonably incurred by the individual in connection with such action if
  the individual fulfils the conditions set out in paragraph (3).</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(5)</TD>
      <TD>Despite paragraph (1), an individual referred to in paragraph (1)&nbsp;is entitled
  to indemnity from the corporation in respect of all costs, charges and expenses
  reasonably incurred by the individual in connection with the defence of any civil,
  criminal, administrative, investigative or other proceeding to which the individual is
  subject because of the individual&#146;s association with the corporation or other entity as
  described in paragraph (1), if the individual seeking indemnity:</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(a)</TD>
      <TD>was not judged by the court or other competent authority to
  have committed any fault or omitted to do anything that the individual ought to
  have done; and</TD>
  </TR>
  
  </TABLE>
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(b)</TD>
   <TD>fulfills the conditions set out in paragraph (3).</TD>
  </TR>
  
  </TABLE>
  
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Directors&#146; Standing Resolution pertaining to indemnification of directors and officers of
  the Corporation represents, in general terms, the extent to which directors and officers may be
  indemnified by us under the CBCA. This resolution provides as follows:
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%" nowrap align="left">&nbsp;</TD>
      <TD width="3%">"(1)</TD>
      <TD>INDEMNITY &#151; Subject to the limitations contained in the governing CBCA but
  without limit to the right of the Corporation to indemnify as provided for in the CBCA,
  the Corporation shall indemnify a director or officer, a former director or officer, or
  a person who acts or acted at the Corporation&#146;s request as a director or officer of a
  body corporate of which the Corporation is or was a shareholder or creditor (or a
  person who undertakes or has undertaken any liability on behalf of the Corporation or
  at the Corporation&#146;s request on behalf of any such body corporate) and his heirs and
  legal representatives, against all costs, charges and expenses, including an amount
  paid to settle an action or satisfy a judgement, reasonably incurred by him in respect
  of any civil, criminal, administrative, investigative or other proceeding to which he
  is made a party by reason of being or having been a director or officer of the
  Corporation or such body corporate or by reason of having undertaken such liability.</TD>
  </TR>
  
  </TABLE>
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(2)</TD>
      <TD>ADVANCE OF COSTS &#151; The Corporation shall advance moneys to a director, officer
  or other individual for the costs, charges and expenses of a proceeding referred to in
  subsection (1). The individual shall repay the moneys if the individual does not
  fulfill the conditions of subsection (3).</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(3)</TD>
      <TD>LIMITATION &#151; The Corporation may not indemnify an individual under subsection
  (1)&nbsp;unless the individual</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(a)</TD>
      <TD>acted honestly and in good faith with a view to the best
  interests of the Corporation; and</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(b)</TD>
      <TD>in the case of a criminal or administrative action or
  proceeding that is enforced by a monetary penalty, he had reasonable grounds
  for believing that his conduct was lawful.&#148;</TD>
  </TR>
  
  </TABLE>
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We also have an insurance policy covering our directors and officers and those of our
  subsidiaries against certain liabilities which might be incurred by them in their capacities as
  such, but excluding those claims for which such insured persons could be indemnified by us or our
  subsidiaries.
  
  <!-- link2 "Item&nbsp;7. Exemption from Registration Claimed." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;7.&nbsp;&nbsp;&nbsp;Exemption from Registration Claimed.</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
  
  <!-- link2 "Item&nbsp;8. Exhibits." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;8.&nbsp;&nbsp;&nbsp;Exhibits.</B>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="92%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left"><B>Exhibit</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>&nbsp;</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left"><B>Number</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left"><B>Description</B><HR size="1" noshade width="8%"></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated Certificate and Articles of Incorporation of the Registrant,
  previously filed as Exhibit&nbsp;3.1 to the Form&nbsp;8-K and incorporated herein by
  reference.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Bylaws of the Registrant, previously filed as Exhibit&nbsp;3.2 to the Form&nbsp;10 and
  incorporated herein by reference.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Shareholder Rights Plan, previously filed as Exhibit&nbsp;4.1 to the Form&nbsp;10 and
  incorporated herein by reference.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Novelis Conversion Plan of 2005.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of David Kennedy, as to legality of securities.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of David Kennedy (included in Exhibit&nbsp;5.1).</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Power of Attorney (included in signature page of the registration statement).</TD>
  </TR>
  <!-- End Table Body --></TABLE>
  </DIV>
  
  <!-- link2 "Item&nbsp;9. Undertakings." -->
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;9.&nbsp;&nbsp;&nbsp;Undertakings.</B>
  
  
  <P align="left" style="font-size: 10pt">(a)&nbsp;&nbsp;The Registrant hereby undertakes:
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(1)</TD>
      <TD>To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(i)</TD>
      <TD>to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(ii)</TD>
      <TD>to reflect in the prospectus any facts or events arising after the effective
  date of this registration statement (or the most recent post-effective amendment
  thereof) which, individually or in the aggregate, represent a fundamental change in
  the information set forth in this registration statement. Notwithstanding the
  foregoing, any increase or decrease in the volume of securities offered (if the
  total dollar value of securities offered would not exceed that which was registered)</TD>
  </TR>
  
  </TABLE>
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt"><TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
      <TD width="4%" nowrap align="left">&nbsp;</TD>
      <TD width="4%">&nbsp;</TD>
      <TD>and any deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of a prospectus filed with the Commission pursuant to
  Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
  than a 20&nbsp;percent change in the maximum aggregate price set forth in the
  &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(iii)</TD>
      <TD>to include any material information with respect to the plan of distribution
  not previously disclosed in this registration statement or any material change to
  such information in this registration statement;</TD>
  </TR>
  
  </TABLE>
  <P align="left" style="font-size: 10pt"><U>provided, however</U>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
  required to be included in a post-effective amendment by those paragraphs is contained in periodic
  reports filed by the Registrant pursuant to Section&nbsp;13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this registration statement.
  
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(2)</TD>
      <TD>That, for the purpose of determining any liability under the Securities Act,
  each such post-effective amendment will be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that
  time will be deemed to be the initial <I>bona fide </I>offering thereof.</TD>
  </TR>
  
  </TABLE>
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="2%">&nbsp;</TD>
      <TD width="3%" nowrap align="left">(3)</TD>
      <TD>To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.</TD>
  </TR>
  
  </TABLE>
  <P align="left" style="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;The Registrant hereby undertakes that, for purposes of determining any liability under the
  Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or Section
  15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual
  report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
  registration statement will be deemed to be a new registration statement relating to the securities
  offered therein, and the offering of such securities at that time will be deemed to be the initial
  <I>bona fide </I>offering thereof.
  
  
  <P align="left" style="font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
  directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions
  described under item 6 above, or otherwise, the Registrant has been advised that in the opinion of
  the Commission such indemnification is against public policy as expressed in the Securities Act and
  is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
  officer or controlling person of the Registrant in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer or controlling person in connection with the
  securities being registered, the Registrant will, unless in the opinion of its counsel the matter
  has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Securities
  Act and will be governed by the final adjudication of such issue.
  
  
  
  <P align="center" style="font-size: 10pt"><B>&#091;Signatures on following page&#093;</B>
  
  
  
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <!-- link1 "SIGNATURES" -->
  
  <P align="center" style="font-size: 10pt"><B>SIGNATURES</B>
  
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
  reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
  duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the City of Toronto, Canada, on January&nbsp;13, 2005.
  
  
  <TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
  <TR>
      <TD width="48%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="15%">&nbsp;</TD>
  </TR>
  <TR>
      <TD valign="top" align="left">&nbsp;</TD>
      <TD colspan="3" align="left">&nbsp;&nbsp;<BR>
  <BR>
  <BR>
  <B>NOVELIS INC.</B><BR>
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD colspan="3" style="border-bottom: 1px solid #000000" align="center">/s/ Brian W. Sturgell
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD colspan="3" align="center"><B>Brian W. Sturgell</B>&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD colspan="3" align="center"><B>Director, Chief Executive
  Officer<BR>(Principal Executive Officer)</B>&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <TR>
      <TD colspan="5">&nbsp;</TD>
  </TR>
  </TABLE>
  <!-- link1 "POWER OF ATTORNEY" -->
  
  <P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>
  
  
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
  and appoints David Kennedy, as his attorney-in-fact, with full power of substitution, for him in
  any and all capacities to sign amendments to this registration statement on the Form S-8, and to
  file the same, with exhibits thereto and other documents in connection therewith, with the
  Commission, hereby ratifying and confirming all that said attorney-in-fact, or his substitutes, may
  do or cause to be done by virtue hereof.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="30%">&nbsp;</TD>
      <TD width="25%">&nbsp;</TD>
      <TD width="45%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/Brian W. Sturgell
  <HR size="1" noshade>
  <B>Brian W. Sturgell<BR>
  Director, Chief Executive Officer<BR>(Principal Executive Officer)</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Geoffrey P. Batt
  <HR size="1" noshade>
  <B>Geoffrey P. Batt<BR>
  Chief Financial Officer (Principal Financial Officer and
  Principal Accounting Officer)</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ J.E. Newall
  <HR size="1" noshade>
  <B>J.E. Newall<BR>
  Non-Executive Chairman</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Jacques Bougie
  <HR size="1" noshade>
  <B>Jacques Bougie<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Charles G. Cavell
  <HR size="1" noshade>
  <B>Charles G. Cavell<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Clarence J. Chandran
  <HR size="1" noshade>
  <B>Clarence J. Chandran<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ C. Roberto Cordaro
  <HR size="1" noshade>
  <B>C. Roberto Cordaro<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Helmut Eschwey
  <HR size="1" noshade>
  <B>Helmut Eschwey<BR>Director</B></TD>
  </TR>
  <!-- End Table Body --></TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="30%">&nbsp;</TD>
      <TD width="25%">&nbsp;</TD>
      <TD width="45%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  &nbsp;
  <HR size="1" noshade>
  <B>Suzanne Labarge<BR>Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ William T. Monahan
  <HR size="1" noshade>
  <B>William T. Monahan<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Rudolf Rupprecht
  <HR size="1" noshade>
  <B>Rudulf Rupprecht<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Edward Yang
  <HR size="1" noshade>
  <B>Edward Yang<BR>
  Director</B></TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="center" nowrap valign="top">Date: January&nbsp;13, 2005</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">
  /s/ Gordon Becker
  <HR size="1" noshade>
  <B>Gordon Becker<BR>
  Authorized Representative in<BR>the United States of America</B></TD>
  </TR>
  <!-- End Table Body --></TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">&nbsp;
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "EXHIBIT INDEX" -->
  
  <P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head --><TR valign="bottom">
      <TD width="5%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="92%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left"><B>Exhibit</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>&nbsp;</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left"><B>Number</B><HR size="1" noshade></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left"><B>Description</B><HR size="1" noshade width="8%"></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated Certificate and Articles of Incorporation of the Registrant,
  previously filed as Exhibit&nbsp;3.1 to the Form&nbsp;8-K and incorporated herein by
  reference.</TD>
  </TR>
  
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Bylaws of the Registrant, previously filed as Exhibit&nbsp;3.2 to the Form&nbsp;10 and
  incorporated herein by reference.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Shareholder Rights Plan, previously filed as Exhibit&nbsp;4.1 to the Form&nbsp;10 and
  incorporated herein by reference.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Novelis Conversion Plan of 2005.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of David Kennedy, as to legality of securities.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Counsel (included in Exhibit&nbsp;5.1).</TD>
  </TR>
  <TR>
      <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
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      <TD align="left" valign="top">Power of Attorney (included in signature page of the registration statement).</TD>
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "m15192orsv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 44349}]
metadata_filer: {"company-data": {"conformed-name": "Novelis Inc.", "cik": "0001304280", "assigned-sic": "3360", "irs-number": "000000000", "state-of-incorporation": "A6", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-122025", "film-number": "05528519"}, "business-address": {"street1": "3399 PEACHTREE ROAD NE, SUITE 1500", "city": "ATLANTA", "state": "GA", "zip": "30326", "phone": "404-814-4210"}, "mail-address": {"street1": "3399 PEACHTREE ROAD NE, SUITE 1500", "city": "ATLANTA", "state": "GA", "zip": "30326"}}
text: sv8
  AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 13, 2005
  FILE NO. 333-
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  NOVELIS INC.
  (Exact name of registrant as specified in its charter)
  Canada
  (State or other jurisdiction
  of incorporation or organization)
  Not Applicable
  (I.R.S. Employer
  Identification Number)
  3399 Peachtree Road NE
  Suite 1500, Atlanta
  Georgia, 30326
  (404) 814-4200
  (Address of Principal Executive Offices, Including Zip Code)
  NOVELIS CONVERSION PLAN OF 2005
  (Full Title of Plan)
  David Kennedy, Secretary
  Novelis Inc.
  3399 Peachtree Road NE
  Suite 1500, Atlanta
  Georgia 30326
  (404) 814-4200
  (Name, address and telephone number, including area code, of agent for service)
  Copies to:
  Andrew G. Bleau
  Ogilvy Renault
  Suite 1100
  1981 McGill College Avenue
  Montreal (Quebec) H3A 3C1
  Canada
  CALCULATION OF REGISTRATION FEE
  Proposed
  Proposed
  Maximum
  Maximum
  Amount of
  Amount to be
  Offering
  Aggregate
  Registration
  Title of Securities to be Registered
  Registered (1)(2)
  Price Per Share (3)
  Offering Price (3)
  Fee
  Common Shares
  (4)
  5,015,851 shares
  $22.65
  $113,609,025
  $13,372
  (1)
  Represents maximum number of Common Shares of the Registrant
  issuable pursuant to the Novelis Conversion Plan of 2005 (the
  "Plan") being registered hereon.
  (2)
  Pursuant to Rule 416 of the Securities Act of 1933 (the
  "Securities Act"), this Registration Statement also covers such
  additional Common Shares as may become issuable pursuant to the
  anti-dilution provisions of the Plan.
  (3)
  Estimated solely for calculating the amount of the registration
  fee, pursuant to paragraphs (c) and (h) of Rule 457 of the General
  Rules and Regulations under the Securities Act, on the basis of
  the average of the high and low sale prices of such securities on
  the New York Stock Exchange on January 11, 2005, within five
  business days prior to filing.
  (4)
  One common share purchase right (a "Right") will also be issued
  with respect to each Common Share. The terms of the Rights are
  described in the Shareholder Rights Plan, filed as Exhibit 4.1 to
  Novelis Inc.'s registration statement on Form 10 dated January 4,
  2005.
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
  Item 1.   Plan Information
  The document(s) containing the information specified in Item 1 will be sent or given to
  employees as specified in Rule 428(b)(1) and are not required to be filed as part of this
  registration statement.
  Item 2.   Registrant Information and Employee Plan Annual Information
  The document(s) containing the information specified in Item 2 will be sent or given to
  employees as specified in Rule 428(b)(1) and are not required to be filed as part of this
  registration statement.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.   Incorporation of Documents by Reference.
  The following documents have been filed by Novelis Inc., a Canadian corporation (the
  "Registrant"), with the Securities and Exchange Commission (the "Commission") and are incorporated
  herein by reference:
  Ÿ
  The Registrant's Registration Statement on Form 10 dated January 4, 2005 (the "Form
  10"), including the information statement filed as exhibit 99.1 thereto (the "Information
  Statement"), as amended;
  Ÿ
  The Registrant's Current Report on Form 8-K, filed January 7, 2005 (the "Form 8-K");
  Ÿ
  The description of the Registrant's Common Shares included in the Form 10 and
  Information Statement, including any subsequently filed amendments and reports updating
  such description;
  Ÿ
  The description of the Registrant's Shareholder Rights Plan included in the Form 10
  and Information Statement, including any subsequently filed amendments and reports
  updating such description.
  All documents filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c),
  14 and 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") subsequent to the date of
  this registration statement and prior to the filing of a post-effective amendment that indicates
  that all securities offered have been sold or which deregisters all securities then remaining
  unsold, will be deemed to be incorporated by reference in this registration statement and to be
  part hereof from the date of filing of such documents other than the portions of such documents,
  which by statute, by designation in such document or otherwise, are not deemed to be filed with the
  Commission or are not required to be incorporated herein by reference.
  Any statement contained in any document incorporated or deemed to be incorporated by reference
  herein will be deemed to be modified or superseded for purposes of this registration statement to
  the extent that a statement contained herein or in any other subsequently filed document which also
  is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any
  such statement so modified or superseded will not be deemed, except as modified or superseded, to
  constitute a part of this registration statement.
  Item 4.   Description of Securities.
  Not applicable.
  Item 5.   Interests of Named Experts and Counsel.
  Not applicable.
  Item 6.   Indemnification of Directors and Officers.
  The
  Canada Business Corporations Act ("CBCA"), the governing act to which we are subject, provides that:
  (1)
  a corporation may indemnify a director or officer of the corporation, a former
  director or officer of the corporation or another individual who acts or acted at the
  corporation's request as a director or officer or an individual acting in a similar
  capacity, of another entity, against all costs, charges and expenses, including an
  amount paid to settle an action or satisfy a judgment, reasonably incurred by the
  individual in respect of any civil, criminal, administrative, investigative or other
  proceeding in which the individual is involved because of that association with the
  corporation or other entity.
  (2)
  a corporation may advance moneys to a director, officer or other individual for
  the costs, charges and expenses of a proceeding referred to paragraph (1). However, the
  individual shall repay the moneys if he does not fulfil the conditions of paragraph
  (3).
  (3)
  a corporation may not indemnify an individual, unless the individual:
  (a)
  acted honestly and in good faith with a view to the best
  interests of the corporation, or, as the case may be, to the best interests of
  the other entity for which the individual acted as a director or officer or in
  a similar capacity at the corporation's request; and
  (b)
  in the case of a criminal or administrative action or
  proceeding that is enforced by a monetary penalty, the individual had
  reasonable grounds for believing that the individual's conduct was lawful.
  (4)
  A corporation may with the approval of a court indemnify a person referred to
  in paragraph (1), or advance moneys under paragraph (2), in respect of an action by or
  on behalf of the corporation or other entity to procure a judgment in its favour, to
  which the individual is made a party because of the individual's association with the
  corporation or other entity as described in paragraph (1) against all costs, charges
  and expenses reasonably incurred by the individual in connection with such action if
  the individual fulfils the conditions set out in paragraph (3).
  (5)
  Despite paragraph (1), an individual referred to in paragraph (1) is entitled
  to indemnity from the corporation in respect of all costs, charges and expenses
  reasonably incurred by the individual in connection with the defence of any civil,
  criminal, administrative, investigative or other proceeding to which the individual is
  subject because of the individual's association with the corporation or other entity as
  described in paragraph (1), if the individual seeking indemnity:
  (a)
  was not judged by the court or other competent authority to
  have committed any fault or omitted to do anything that the individual ought to
  have done; and
  (b)
  fulfills the conditions set out in paragraph (3).
  The Directors' Standing Resolution pertaining to indemnification of directors and officers of
  the Corporation represents, in general terms, the extent to which directors and officers may be
  indemnified by us under the CBCA. This resolution provides as follows:
  "(1)
  INDEMNITY — Subject to the limitations contained in the governing CBCA but
  without limit to the right of the Corporation to indemnify as provided for in the CBCA,
  the Corporation shall indemnify a director or officer, a former director or officer, or
  a person who acts or acted at the Corporation's request as a director or officer of a
  body corporate of which the Corporation is or was a shareholder or creditor (or a
  person who undertakes or has undertaken any liability on behalf of the Corporation or
  at the Corporation's request on behalf of any such body corporate) and his heirs and
  legal representatives, against all costs, charges and expenses, including an amount
  paid to settle an action or satisfy a judgement, reasonably incurred by him in respect
  of any civil, criminal, administrative, investigative or other proceeding to which he
  is made a party by reason of being or having been a director or officer of the
  Corporation or such body corporate or by reason of having undertaken such liability.
  (2)
  ADVANCE OF COSTS — The Corporation shall advance moneys to a director, officer
  or other individual for the costs, charges and expenses of a proceeding referred to in
  subsection (1). The individual shall repay the moneys if the individual does not
  fulfill the conditions of subsection (3).
  (3)
  LIMITATION — The Corporation may not indemnify an individual under subsection
  (1) unless the individual
  (a)
  acted honestly and in good faith with a view to the best
  interests of the Corporation; and
  (b)
  in the case of a criminal or administrative action or
  proceeding that is enforced by a monetary penalty, he had reasonable grounds
  for believing that his conduct was lawful."
  We also have an insurance policy covering our directors and officers and those of our
  subsidiaries against certain liabilities which might be incurred by them in their capacities as
  such, but excluding those claims for which such insured persons could be indemnified by us or our
  subsidiaries.
  Item 7.   Exemption from Registration Claimed.
  Not applicable.
  Item 8.   Exhibits.
  Exhibit
  Number
  Description
  3.1
  Restated Certificate and Articles of Incorporation of the Registrant,
  previously filed as Exhibit 3.1 to the Form 8-K and incorporated herein by
  reference.
  3.2
  Bylaws of the Registrant, previously filed as Exhibit 3.2 to the Form 10 and
  incorporated herein by reference.
  4.1
  Shareholder Rights Plan, previously filed as Exhibit 4.1 to the Form 10 and
  incorporated herein by reference.
  4.2
  Novelis Conversion Plan of 2005.
  5.1
  Opinion of David Kennedy, as to legality of securities.
  23.1
  Consent of PricewaterhouseCoopers LLP.
  23.2
  Consent of David Kennedy (included in Exhibit 5.1).
  24.1
  Power of Attorney (included in signature page of the registration statement).
  Item 9.   Undertakings.
  (a)  The Registrant hereby undertakes:
  (1)
  To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:
  (i)
  to include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii)
  to reflect in the prospectus any facts or events arising after the effective
  date of this registration statement (or the most recent post-effective amendment
  thereof) which, individually or in the aggregate, represent a fundamental change in
  the information set forth in this registration statement. Notwithstanding the
  foregoing, any increase or decrease in the volume of securities offered (if the
  total dollar value of securities offered would not exceed that which was registered)
  and any deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of a prospectus filed with the Commission pursuant to
  Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
  than a 20 percent change in the maximum aggregate price set forth in the
  "Calculation of Registration Fee" table in the effective registration statement; and
  (iii)
  to include any material information with respect to the plan of distribution
  not previously disclosed in this registration statement or any material change to
  such information in this registration statement;
  provided, however
  , that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
  required to be included in a post-effective amendment by those paragraphs is contained in periodic
  reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this registration statement.
  (2)
  That, for the purpose of determining any liability under the Securities Act,
  each such post-effective amendment will be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that
  time will be deemed to be the initial
  bona fide
  offering thereof.
  (3)
  To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  (b)   The Registrant hereby undertakes that, for purposes of determining any liability under the
  Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section
  15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual
  report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
  registration statement will be deemed to be a new registration statement relating to the securities
  offered therein, and the offering of such securities at that time will be deemed to be the initial
  bona fide
  offering thereof.
  (c)   Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
  directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions
  described under item 6 above, or otherwise, the Registrant has been advised that in the opinion of
  the Commission such indemnification is against public policy as expressed in the Securities Act and
  is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
  officer or controlling person of the Registrant in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer or controlling person in connection with the
  securities being registered, the Registrant will, unless in the opinion of its counsel the matter
  has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Securities
  Act and will be governed by the final adjudication of such issue.
  [Signatures on following page]
  SIGNATURES
  Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
  reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
  duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the City of Toronto, Canada, on January 13, 2005.
  NOVELIS INC.
  /s/ Brian W. Sturgell
  Brian W. Sturgell
  Director, Chief Executive
  Officer
  (Principal Executive Officer)
  POWER OF ATTORNEY
  KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
  and appoints David Kennedy, as his attorney-in-fact, with full power of substitution, for him in
  any and all capacities to sign amendments to this registration statement on the Form S-8, and to
  file the same, with exhibits thereto and other documents in connection therewith, with the
  Commission, hereby ratifying and confirming all that said attorney-in-fact, or his substitutes, may
  do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  Date: January 13, 2005
  /s/Brian W. Sturgell
  Brian W. Sturgell
  Director, Chief Executive Officer
  (Principal Executive Officer)
  Date: January 13, 2005
  /s/ Geoffrey P. Batt
  Geoffrey P. Batt
  Chief Financial Officer (Principal Financial Officer and
  Principal Accounting Officer)
  Date: January 13, 2005
  /s/ J.E. Newall
  J.E. Newall
  Non-Executive Chairman
  Date: January 13, 2005
  /s/ Jacques Bougie
  Jacques Bougie
  Director
  Date: January 13, 2005
  /s/ Charles G. Cavell
  Charles G. Cavell
  Director
  Date: January 13, 2005
  /s/ Clarence J. Chandran
  Clarence J. Chandran
  Director
  Date: January 13, 2005
  /s/ C. Roberto Cordaro
  C. Roberto Cordaro
  Director
  Date: January 13, 2005
  /s/ Helmut Eschwey
  Helmut Eschwey
  Director
  Date: January 13, 2005
  Suzanne Labarge
  Director
  Date: January 13, 2005
  /s/ William T. Monahan
  William T. Monahan
  Director
  Date: January 13, 2005
  /s/ Rudolf Rupprecht
  Rudulf Rupprecht
  Director
  Date: January 13, 2005
  /s/ Edward Yang
  Edward Yang
  Director
  Date: January 13, 2005
  /s/ Gordon Becker
  Gordon Becker
  Authorized Representative in
  the United States of America
  EXHIBIT INDEX
  Exhibit
  Number
  Description
  3.1
  Restated Certificate and Articles of Incorporation of the Registrant,
  previously filed as Exhibit 3.1 to the Form 8-K and incorporated herein by
  reference.
  3.2
  Bylaws of the Registrant, previously filed as Exhibit 3.2 to the Form 10 and
  incorporated herein by reference.
  4.1
  Shareholder Rights Plan, previously filed as Exhibit 4.1 to the Form 10 and
  incorporated herein by reference.
  4.2
  Novelis Conversion Plan of 2005.
  5.1
  Opinion of David Kennedy, as to legality of securities.
  23.1
  Consent of PricewaterhouseCoopers LLP.
  23.2
  Consent of Counsel (included in Exhibit 5.1).
  24.1
  Power of Attorney (included in signature page of the registration statement).