Exhibit 10.41
 JOINDER AGREEMENT
 Dated July 16, 2008
 Credit Agreement
   New Guarantor Joinder
Agreement )
  Guarantee.
 Representations and Warranties.
 Severability.




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##### 



. Counterparts.
 No Waiver.
 Notices.
 Governing Law
 Signature Pages Follow




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##### 



NOVELIS SERVICES LIMITEDBy:
    /s/ P. IllyName:
    P. IllyTitle:
    SecretaryAddress for Notices:UBS AG, Stamford Branch,
as Administrative Agent and as Collateral AgentBy:
    /s/ Mary E. Evans`Name:
    Mary E. EvansTitle:
    Associate DirectorBy:
    /s/ David B. JulieName:
    David B. JulieTitle:
    Associate Director




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##### 



Schedule 1.01(b)
 Subsidiary Guarantors
 
    
    Novelist Services Limited




---



##### 



Schedule 1.01(c)
 Excluded Collateral Subsidiaries
 N/A




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##### 



Schedule 3.06(c)
 Violations or Proceedings
 N/A




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##### 



Schedule 3.19
 Insurance
 1) Property Insurance Summary
 ALL RISK PROPERTY DAMAGE, MACHINERY BREAKDOWN & BUSINESS INTERRUPTION INSURANCE
COVERAGE
 July 1, 2007  July 1, 2008
 NAMED INSURED:
 
    
    Novelis Inc. and/or its affiliated, subsidiary and associated companies and/or
corporations and the
Insureds interest in partnerships and joint ventures as now exist or may hereafter be constituted
or acquired and any party in interest which the Insured is responsible to insure.
    
    Including the Insureds interest in the following joint ventures:
 
    
    Logan Aluminum Inc.
    
    Aluminium Norf GmbH (to be insured 100%)
 PERIOD OF INSURANCE:
 
 COVERAGE DETAILS:
 Property Insured
  
    
    All property in which the Insured has an insurable interest including but not limited
to property owned, used, leased or intended for use by the Insured, or hereafter constructed, erected,
installed, or acquired. In the event of loss or damage, the Insurers agree to accept and consider the
Insured as sole and unconditional owner of improvements and betterments, notwithstanding any
contract or leases to the contrary.
    
    All property of others in the Insureds care, custody and control and/or for which the
Insured may be legally liable and/or under an obligation and/or has assumed responsibility to provide
insurance.
    
    All property which is required to be specifically insured by reason of any statute.




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##### 



Perils Covered
 
    
    All Perils of direct physical loss or damage including Machinery Breakdown and Business
Interruption, to the Property Insured by any cause whatsoever including Earthquake, Windstorm,
and Flood.
 LIMITS OF LIABILITY:
  
    
    Combined for Property Damage, including Machinery Breakdown and Business Interruption
excess of the DEDUCTIBLE LEVELS and subject to the following ground-up sub-limits,
where applicable, as described below:
 GROUND-UP PROGRAM SUB-LIMITS
 Contingent Business
Interruption and
Contingent Extra
Expense (Direct
Suppliers and/or
Customers)
    
    $
    200,000,000
    
    
    each and every occurrence for BI.
except,$
    25,000,000
    
    
    each and every occurrence
combined for PD & BI from
interruption emanating from
earthquake in the New Madrid
zone.Course of Construction
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI including
Advance loss of Profits.Debris Removal
    
    $
    50,000,000
    
    
    each and every occurrence for PD
or 25% of the loss, whichever is
greater.Decontamination Expenses
    
    $
    50,000,000
    
    
    each and every occurrence for PD.Defense Costs
    
    $
    5,000,000
    
    
    each and every occurrence
combined for PD & BI.Demolition and
Increased Cost of
Construction
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI.Earthquake
    
    $
    750,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate, except




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##### 



$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Chile.$
    300,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for China.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Columbia.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Guam.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Indonesia.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Israel.$
    300,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Mexico.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Peru.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Portugal.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Taiwan.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Venezuela.$
    100,000,000
    
    
    each and every occurrence




---



##### 



combined for PD & BI and in the
annual aggregate for Turkey$
    25,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for California. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.$
    25,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Japan. This sub-limit
applies on a cumulative basis for
all coverage triggered by
earthquake in this zone.$
    25,000,000
    
    
    each and every occurrence combined
for PD &d BI and in the annual
aggregate for New Zealand. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for New Madrid (sub-limit
does not apply to the Logan
facility).$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Pacific Northwest.$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Philippines.Extra / Expediting Expenses
    
    $
    200,000,000
    
    
    combined each and every occurrence
for PD & BI.Fine Arts
    
    $
    25,000,000
    
    
    each and every occurrence for PD.Fire Fighting Expenses
Including Cost of
Extinguishing Materials
    
    $
    25,000,000
    
    
    each and every occurrence for PD.




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##### 



Flood
    
    $
    750,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate except,$
    100,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate for properties
situated in a 100 year
floodplain.$
    100,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate for flood in
the Netherlands.Interruption By Civil or Military 
Authority
    
    $
    100,000,000
    
    
    each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.Interruption of Ingress and/or Egress
    
    $
    100,000,000
    
    
    each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.$
    100,000,000
    
    
    each and every occurrence
combined for PD and BI.Impounded Water Land and Water
Contaminant or Pollutant Cleanup,
Removal and Disposal
    
    $
    100,000
    
    
    each and every occurrence for PD.Leasehold Interest
    
    $
    100,000,000
    
    
    each and every occurrence for BI.Neighbours Recourse Liability
    
    $
    15,000,000
    
    
    each and every occurrence
combined for PD&BI.Newly Acquired Location
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI.Non-Admitted Tax Liability
    
    $
    150,000,000
    
    
    each and every occurrence.Pot Line Freeze Up
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD and BI.Research & Development
    
    $
    25,000,000
    
    
    each and every occurrence
combined for PD & BI.Recapture of Investment Incentives
    
    $
    50,000,000
    
    
    each and every occurrence.Royalties
    
    $
    10,000,000
    
    
    each and every occurrence




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##### 



Service Interruption
    
    $
    200,000,000
    
    
    each and every
occurrence combined
for PD & BI, except$
    25,000,000
    
    
    each and every
occurrence combined
for PD & BI from
interruption
emanating from
earthquake in the
New Madrid zone.Transit
    
    $
    25,000,000
    
    
    each and every
occurrence combined
for PD & BI.Transmission and Distribution Lines
    
    $
    10,000,000
    
    
    each and every
occurrence combined
for direct loss
causing PD &BI.Unnamed Location
    
    $
    100,000,000
    
    
    each and every
occurrence combined
for PD & BI.
 DEDUCTIBLE LEVELS:
   BASIS OF VALUATION
  DIFFERENCE IN CONDITIONS
  DIFFERENCE IN LIMITS
  TERRITORY




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##### 



EXCLUSIONS:
 
    
    MARINE EXPORT SHIPMENTS
    
    MARINE IMPORT SHIPMENTS
    
    AIRCRAFT/WATERCRAFT
    
    LAND/WATER
    
    LABOUR DISTURBANCES
    
    WAR / NUCLEAR DEVICE / REBELLION / SEIZURE BY PUBLIC
    
    AUTHORITY / CONTRABAND OR ILLEGAL TRADE
    
    NUCLEAR
    
    FRAUD
    
    WEAR AND TEAR
    
    CROPS or STANDING TIMBER
    
    CURRENCY / PREVIOUS METALS
    
    OFFSHORE PROPERTY
    
    VEHICLES
    
    MYSTERIOUS DISAPPEARANCE
    
    CHANGES IN TEMPERATURE
    
    PROPERTY SOLD
    
    UNDERGROUND MINES
    
    satellites / spacecraft
    
    manufacturing or processing errors
    
    errors in design
    
    cost of making good defective design or specifications
    
    errors in processing / manufacturing product
    
    settling, cracking, shrinkage
    
    remote loss / delay or loss of market
    
    VERMIN, INSECTS or animals
    
    LOCAL, STATE OR NATIONAL GOVERNMENT CATASTROPHE POOLS
    
    POLLUTION
    
    FINES / PENALTIES
    
    10 YEAR FLOOD PLAIN (based on the renewal schedule of locations there are currently no
locations situated in a 10 year flood plain)
    
    MICRO ORGANISM
    
    BIOLOGICAL / CHEMICAL MATERIALS
 CANCELLATION:
  CURRENCY:




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##### 



ENDORSEMENTS:
 
    
    Electronic Date Recognition Clarification Clause
    
    Computer Virus Clause
    
    War and Terrorism Exclusion Endorsement
    
    Asbestos Exclusion Endorsement
 2) Liability Insurance Summary
 Summary of Insurance  Comprehensive General Liability
 Insured:
    
    Novelis Inc.Insurer:
    
    Zurich Insurance CompanyPrimary Policy Number:
    
    LA 37940BPolicy Period:
    
    April 1, 2007, to April 1, 2008Limits Of Liability:
    
    US $75,000,000 per claim made for all insured
losses combined, including loss expense,
subject to an annual aggregate of US
$150,000,000 for all claims made within one
insurance year irrespective of whether the
claims are attributable to one or more than
one occurrence.Sub-Limits for Additional CoveragesUS $75,000,000 per claim made and in the
aggregate per insurance year for the following
Additional Coverages combined:a)      Personal Injury Liabilityb)      Advertisers Liabilityc)      Employers Liabilityd)      Employee Benefits Liabilitye)      Loss of Usef)      Pure financial lossg)      Additional Coverage for Motor Vehicles




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##### 



The Indemnity of Zurich is limited to:a)      US $50,000,000 per claim made and in the aggregate per
insurance year for Product Recall Costs, and included in
this sub-limit US $15,000,000 per claim made and in the
aggregate per insurance year for Product Recall costs in
the case of insured entities that maintain no certified
quality management system under recognised standards (e.g.
ISO 9001, et seq.);b)      US $25,000,000 per claim made and in the aggregate per
insurance year for Dismantling and Assembly Expenses;c)      For Special Coverages according to (a) and (b) above,
the maximum limit of indemnity per claim made and in the
aggregate per insurance year remains US $50,000,000;d)      US $400,000 per claim made and US $4,000,000 in the
aggregate per insurance year for Legal Protection in
criminal Proceedings;e)      US $4,000,000 per claim made and in the aggregate per
insurance year for claims in respect of losses relating to
Contingent Watercraft.Deductibles:
    
    The deductibles per claim made are as follows:General Deductible for entities in CanadaCAD $25,000 for Product LiabilityCAD $25,000 for other
lossesNo deductible for bodily injury claimsGermanyEUR 50,000 for Product LiabilityIn connection with the local environmental industrial
liability insurance per insurance case 10% but a minimum of
EUR 50,000 and a maximum of EUR 500,000EUR 4,000 for other lossesNo deductible for bodily injury claimsItalyEUR 50,000South KoreaUS $20,000No deductible for bodily injury claimsSwitzerlandCHF 30,000 for Product LiabilityCHF 6,000 for other lossesNo deductible for bodily injury claims




---



##### 



United KingdomGBP 10,000 for Product LiabilityGBP 2,000 for other lossesNo deductible for bodily injury claimsUnited States of America (USA)US $1,000,000 for losses which occur and/or
are litigated in the USA onlyUS $25,000 for other lossesBelgium, France, SpainEUR 20,000 for Product LiabilityEUR 4,000 for other lossesNo deductible for bodily injury claimsOther CountriesUS $20,000 for Product LiabilityUS $4,000 for other lossesNo deductible for bodily injury claimsDifference in Limits CoverageNo deductible is applicable to Difference in
Limits CoverageDeductible for Special
CoveragesNotwithstanding the other deductibles
mentioned above, the deductibles for the
Special Coverages amount to:US $1,000,000 in respect of Novelis Inc. and
its subsidiaries for claims which are made
and/or are litigated in the USA onlyUS
$810,000 for other losses / entitiesNovelis Inc. participates in the Program with
an annual program deductible of US $950,000
per claim made in excess of the applicable
deductible(s) with an annual aggregate of
US $2,000,000.Territorial Limits:
    
    WorldwideCoverage:
    
    The policy covers legal liability arising out
of the companies and their activities, in
respect of business premises, property,
operations and product liability risks for
bodily injury and property damage.




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##### 



Insuring and
Defense Agreement:
    
    The coverage provided by Zurich consists of the indemnity for
justified insured claims and of any loss expense, including
defense costs, against both justified and unjustified insured
claims. Payments under these coverages will be made by Zurich,
on behalf of the insureds. They will include but not be
restricted to:a)      Interest on damages;b)      Premiums on bonds to release attachments for an amount not
in excess of the limit of indemnity of this contract as well as
all premiums on appeal bonds required in any above defended
claim;c)      Loss reduction expenses;d)      Cost of experts, lawyers, court, arbitration and mediation
expensese)      Litigation costs of an opposing party;f)      Loss prevention expenses,And will be limited by the limit of indemnity of this contract.Principal Extensions:
    
    Comprehensive General Liability Manuscript Policy Form which
includes:        Additional coverage for Motor Vehicles  limited to the
Limit of Indemnity and applies excess of the greater of US
$2,000,000 or the limit of indemnity of the locally existing
basic motor vehicle coverage;        Advertisers Liability;        Agreed Waiver of Liability;        Assumption of Legal Third-Party Liability;        Condominium Owners;        Cross Liability;        Damage to Property in the Custody of or Worked Upon by the
Insured;        Effects of Ionizing Radiation;        Employee Benefits Liability;        Employers Liability  limited to the Limit of Indemnity and
applies excess of:        US $100,000 for the USA        CDN $1,000,000 for other countries        Extension of the Statutory Time-Limits;        Fault on the Part of Independent Contractors;        Identification or Elimination of Defects and Damage;        Insured Ancillary Risks;        Joint Ventures;        Leased Telecommunications Installations;        Leasehold Property;        Legal liability arising from the granting of licenses
conferring rights in respect of intangible goods;        Legal Protection in Criminal Proceedings;        Loss of Use;        Loss during Loading and Unloading;




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##### 



        Losses Incurred in Mixing, Combining and Further Processing;        Losses Relating to Environmental Damage Caused by Installations
for the Storage, Treatment or Disposal of Waste or Waste Products;        Machinery Clause;        Non Owned Aviation Liability / Airport Premises  limited to the
Limit of Indemnity and applies excess of CDN $5,000,000;        Objection of Late Complaints;        Personal Injury Liability;        Personal Liability;        Pure Financial Loss;        Railroad Branch Lines and Sidetracks and Related Installations
and Rolling Stock;        Real Estate and Installations not Used for Business Purposes;        Use of Public Highways for Internal Works Traffic.Special Coverages:
    
    Special coverages shall mean the following additional
coverages:        Dismantling and assembly expenses;        Product recall costs;        Loss prevention expenses;        Testing and sorting costs.Principal Exclusions:
    
    The policy excludes the following:        Own Damages;        Bodily injury to employees;        Employment-related practices;        Workers Compensation and Occupational Disease;        Charterers Liability;        Damage to property in the custody of or worked upon by the
Insured;        Radioactivity;        Civil War;        Special Substances and Risks;        Intentional Act;        Terrorism in the USA;        Losses relating to environmental damage except for (1)
consequences of a sudden event (2) losses relating to environmental
damage caused by installations for composting or short-term storage on
waste products or purification of waste water.




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##### 



Schedule 3.24
 Location of Material Inventory
 N/A
 Locations of Collateral in Possession of Persons Other Than Any Loan Party
 N/A




---



##### 



Schedule 6.01(b)
 Existing Indebtedness




---



##### 



Schedule 6.02(c)
 Existing Liens




---



##### 



Schedule 6.04(b)
 Existing Investments




---



##### 



Schedule 6.01(b)
 Existing Indebtedness




---



##### 



Schedule 6.02(c)
 Existing Liens




---



##### 



Schedule 6.04(b)
 Existing Investments




---



##### 



JOINDER AGREEMENT
 Dated July 16, 2008
 Credit Agreement Canadian Borrower
   New Guarantor Joinder
Agreement
  Guarantee.
 Representations and Warranties.




---



##### 



Severability.
 Counterparts.
 No Waiver
 Notices.
 Governing Law.
 Signature Pages Follow




---



##### 



NOVELIS SERVICES LIMITEDBy:
    /s/ P. IllyName:
    P. IllyTitle:
    SecretaryAddress for Notices:LASALLE BUSINESS CREDIT, LLC, as Funding
Agent and as Collateral AgentBy:
    /s/ Peter M. WaltherName:
    Peter M. WaltherTitle:
    First Vice PresidentAddress for Notices:
LaSalle Business Credit, LLC 135
South LaSalle Street, Suite 425
Chicago, Illinois 60603 Attention:
Steven Friedlander




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##### 








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##### 



Perils Covered
 
    
    All Perils of direct physical loss or damage including Machinery Breakdown and Business
Interruption, to the Property Insured by any cause whatsoever including Earthquake, Windstorm,
and Flood.
 LIMITS OF LIABILITY:
  
    
    Combined for Property Damage, including Machinery Breakdown and Business Interruption
excess of the DEDUCTIBLE LEVELS and subject to the following ground-up sub-limits,
where
applicable, as described below:
 GROUND-UP PROGRAM SUB-LIMITS
 Contingent Business
Interruption and
Contingent Extra
Expense (Direct
Suppliers and/or
Customers)
    
    $
    200,000,000
    
    
    each and every occurrence for BI.
except,$
    25,000,000
    
    
    each and every occurrence
combined for PD & BI from
interruption emanating from
earthquake in the New Madrid
zone.Course of Construction
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI including
Advance loss of Profits.Debris Removal
    
    $
    50,000,000
    
    
    each and every occurrence for PD
or 25% of the loss, whichever is
greater.Decontamination Expenses
    
    $
    50,000,000
    
    
    each and every occurrence for PD.Defense Costs
    
    $
    5,000,000
    
    
    each and every occurrence
combined for PD & BI.Demolition and
Increased Cost of
Construction
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI.Earthquake
    
    $
    750,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate, except




---



##### 



$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Chile.$
    300,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for China.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Columbia.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Guam.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Indonesia.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Israel.$
    300,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Mexico.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Peru.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Portugal.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Taiwan.$
    100,000,000
    
    
    each and every occurrence combined for PD & BI
and in the annual aggregate for Venezuela.$
    100,000,000
    
    
    each and every occurrence




---



##### 



combined for PD & BI and in the
annual aggregate for Turkey$
    25,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for California. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.$
    25,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Japan. This sub-limit
applies on a cumulative basis for
all coverage triggered by
earthquake in this zone.$
    25,000,000
    
    
    each and every occurrence combined
for PD &d BI and in the annual
aggregate for New Zealand. This
sub-limit applies on a cumulative
basis for all coverage triggered by
earthquake in this zone.$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for New Madrid (sub-limit
does not apply to the Logan
facility).$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Pacific Northwest.$
    50,000,000
    
    
    each and every occurrence combined
for PD & BI and in the annual
aggregate for Philippines.Extra / Expediting Expenses
    
    $
    200,000,000
    
    
    combined each and every occurrence
for PD & BI.Fine Arts
    
    $
    25,000,000
    
    
    each and every occurrence for PD.Fire Fighting Expenses
Including Cost of
Extinguishing Materials
    
    $
    25,000,000
    
    
    each and every occurrence for PD.




---



##### 



Flood
    
    $
    750,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate except,$
    100,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate for properties
situated in a 100 year
floodplain.$
    100,000,000
    
    
    each and every occurrence
combined for PD & BI and in the
annual aggregate for flood in
the Netherlands.Interruption By Civil or Military 
Authority
    
    $
    100,000,000
    
    
    each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.Interruption of Ingress and/or Egress
    
    $
    100,000,000
    
    
    each and every occurrence for PD
& BI or 30 consecutive days,
whichever is less.$
    100,000,000
    
    
    each and every occurrence
combined for PD and BI.Impounded Water Land and Water
Contaminant or Pollutant Cleanup,
Removal and Disposal
    
    $
    100,000
    
    
    each and every occurrence for PD.Leasehold Interest
    
    $
    100,000,000
    
    
    each and every occurrence for BI.Neighbours Recourse Liability
    
    $
    15,000,000
    
    
    each and every occurrence
combined for PD&BI.Newly Acquired Location
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD & BI.Non-Admitted Tax Liability
    
    $
    150,000,000
    
    
    each and every occurrence.Pot Line Freeze Up
    
    $
    100,000,000
    
    
    each and every occurrence
combined for PD and BI.Research & Development
    
    $
    25,000,000
    
    
    each and every occurrence
combined for PD & BI.Recapture of Investment Incentives
    
    $
    50,000,000
    
    
    each and every occurrence.Royalties
    
    $
    10,000,000
    
    
    each and every occurrence




---



##### 



Service Interruption
    
    $
    200,000,000
    
    
    each and every
occurrence combined
for PD & BI, except$
    25,000,000
    
    
    each and every
occurrence combined
for PD & BI from
interruption
emanating from
earthquake in the
New Madrid zone.Transit
    
    $
    25,000,000
    
    
    each and every
occurrence combined
for PD & BI.Transmission and Distribution Lines
    
    $
    10,000,000
    
    
    each and every
occurrence combined
for direct loss
causing PD &BI.Unnamed Location
    
    $
    100,000,000
    
    
    each and every
occurrence combined
for PD & BI.
 DEDUCTIBLE LEVELS:
   BASIS OF VALUATION
  DIFFERENCE IN CONDITIONS
  DIFFERENCE IN LIMITS
  TERRITORY




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EXCLUSIONS:
 
    
    MARINE EXPORT SHIPMENTS
    
    MARINE IMPORT SHIPMENTS
    
    AIRCRAFT / WATERCRAFT
    
    LAND / WATER
    
    LABOUR DISTURBANCES
    
    WAR / NUCLEAR DEVICE / REBELLION / SEIZURE BY PUBLIC
    
    AUTHORITY / CONTRABAND OR ILLEGAL TRADE
    
    NUCLEAR
    
    FRAUD
    
    WEAR AND TEAR
    
    CROPS or STANDING TIMBER
    
    CURRENCY / PREVIOUS METALS
    
    OFFSHORE PROPERTY
    
    VEHICLES
    
    MYSTERIOUS DISAPPEARANCE
    
    CHANGES IN TEMPERATURE
    
    PROPERTY SOLD
    
    UNDERGROUND MINES
    
    satellites / spacecraft
    
    manufacturing or processing errors
    
    errors in design
    
    cost of making good defective design or specifications
    
    errors in processing / manufacturing product
    
    settling, cracking, shrinkage
    
    remote loss / delay or loss of market
    
    VERMIN, INSECTS or animals
    
    LOCAL, STATE OR NATIONAL GOVERNMENT CATASTROPHE POOLS
    
    POLLUTION
    
    FINES /PENALTIES
    
    10 YEAR FLOOD PLAIN (based on the renewal schedule of locations there are currently no
locations situated in a 10 year flood plain)
    
    MICRO ORGANISM
    
    BIOLOGICAL / CHEMICAL MATERIALS
 CANCELLATION:
  CURRENCY:




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ENDORSEMENTS:
 
    
    Electronic Date Recognition Clarification Clause
    
    Computer Virus Clause
    
    War and Terrorism Exclusion Endorsement
    
    Asbestos Exclusion Endorsement
 21 Liability Insurance Summary
 Summary of Insurance  Comprehensive General Liability
 Insured:
    
    Novelis Inc.Insurer:
    
    Zurich Insurance CompanyPrimary Policy Number:
    
    LA 37940BPolicy Period:
    
    April 1, 2007, to April 1, 2008Limits Of Liability:
    
    US $75,000,000 per claim made for all insured
losses combined, including loss expense,
subject to an annual aggregate of US
$150,000,000 for all claims made within one
insurance year irrespective of whether the
claims are attributable to one or more than one
occurrence.Sub-Limits for Additional CoveragesUS $75,000,000 per claim made and in the
aggregate per insurance year for the following
Additional Coverages combined:a)      Personal Injury Liabilityb)      Advertisers Liabilityc)      Employers Liabilityd)      Employee Benefits Liabilitye)      Loss of Usef)      Pure financial lossg)      Additional Coverage for Motor Vehicles




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The Indemnity of Zurich is limited to:a)      US $50,000,000 per claim made and in the aggregate per
insurance year for Product Recall Costs, and included in
this sub-limit US $15,000,000 per claim made and in the
aggregate per insurance year for Product Recall costs in
the case of insured entities that maintain no certified
quality management system under recognised standards (e.g.
ISO 9001, et seq.);b)      US $25,000,000 per claim made and in the aggregate per
insurance year for Dismantling and Assembly Expenses;c)      For Special Coverages according to (a) and (b) above,
the maximum limit of indemnity per claim made and in the
aggregate per insurance year remains US $50,000,000;d)      US $400,000 per claim made and US $4,000,000 in the
aggregate per insurance year for Legal Protection in
criminal Proceedings;e)      US $4,000,000 per claim made and in the aggregate per
insurance year for claims in respect of losses relating to
Contingent Watercraft.Deductibles:
    
    The deductibles per claim made are as follows:General Deductible for entities in CanadaCAD $25,000 for Product LiabilityCAD $25,000 for other lossesNo deductible for bodily injury claimsGermanyEUR 50,000 for Product LiabilityIn connection with the local environmental industrial
liability insurance per insurance case 10% but a minimum of EUR 50,000 and a maximum of EUR 500,000EUR 4,000 for other lossesNo deductible for bodily injury claimsItalyEUR 50,000South KoreaUS $20,000No deductible for bodily injury claimsSwitzerlandCHF 30,000 for Product LiabilityCHF 6,000 for other lossesNo deductible for bodily injury claims




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United KingdomGBP 10,000 for Product LiabilityGBP 2,000 for other lossesNo deductible for bodily injury claimsUnited States of America (USA)US $1,000,000 for losses which occur and/or are litigated in theUSA onlyUS $25,000 for other lossesBelgium, France, SpainEUR 20,000 for Product LiabilityEUR 4,000 for other lossesNo deductible for bodily injury claimsOther CountriesUS $20,000 for Product LiabilityUS $4,000 for other lossesNo deductible for bodily injury claimsDifference in Limits CoverageNo deductible is applicable to Difference in Limits CoverageDeductible for Special CoveragesNotwithstanding the other deductibles mentioned above, the
deductibles for the Special Coverages amount to:US $1,000,000 in respect of Novelis Inc. and its subsidiaries for
claims which are made and/or are litigated in the USA onlyUS $810,000 for other losses / entitiesNovelis Inc. participates in the Program with an annual program
deductible of US $950,000 per claim made in excess of the
applicable deductible(s) with an annual aggregate of US
$2,000,000.Territorial Limits:
    
    WorldwideCoverage:
    
    The policy covers legal liability arising out of the companies and
their activities, in respect of business premises, property,
operations and product liability risks for bodily injury and
property damage.




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Insuring and
Defense Agreement:
    
    The coverage provided by Zurich consists of the indemnity for
justified insured claims and of any loss expense, including
defense costs, against both justified and unjustified insured
claims. Payments under these coverages will be made by
Zurich, on behalf of the insureds. They will include but not be
restricted to:a)      Interest on damages;b)      Premiums on bonds to release attachments for an amount not
in excess of the limit of indemnity of this contract as well as
all premiums on appeal bonds required in any above defended
claim;c)      Loss reduction expenses;d)      Cost of experts, lawyers, court, arbitration and mediation
expensese)      Litigation costs of an opposing party;f)      Loss prevention expenses,And will be limited by the limit of indemnity of this contract.Principal Extensions:
    
    Comprehensive General Liability Manuscript Policy Form which
includes:        Additional coverage for Motor Vehicles  limited to the
Limit of Indemnity and applies excess of the greater of US
$2,000,000 or the limit of indemnity of the locally existing
basic motor vehicle coverage;        Advertisers Liability;        Agreed Waiver of Liability;        Assumption of Legal Third-Party Liability;        Condominium Owners;        Cross Liability;        Damage to Property in the Custody of or Worked Upon by the
Insured;        Effects of Ionizing Radiation;        Employee Benefits Liability;        Employers Liability  limited to the Limit of Indemnity
and applies excess of:        US $100,000 for the USA        CDN $1,000,000 for other countries        Extension of the Statutory Time-Limits;        Fault on the Part of Independent Contractors;        Identification or Elimination of Defects and Damage;        Insured Ancillary Risks;        Joint Ventures;        Leased Telecommunications Installations;        Leasehold Property;        Legal liability arising from the granting of licenses
conferring rights in respect of intangible goods;        Legal Protection in Criminal Proceedings;        Loss of Use;        Loss during Loading and Unloading;




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        Losses Incurred in Mixing, Combining and Further
Processing;        Losses Relating to Environmental Damage Caused by
Installations for the Storage, Treatment or Disposal of
Waste or Waste Products;        Machinery Clause;        Non Owned Aviation Liability / Airport Premises 
limited to the Limit of Indemnity and applies excess of CDN
$5,000,000;        Objection of Late Complaints;        Personal Injury Liability;        Personal Liability;        Pure Financial Loss;        Railroad Branch Lines and Sidetracks and Related
Installations and Rolling Stock;        Real Estate and Installations not Used for Business
Purposes;        Use of Public Highways for Internal Works Traffic.Special Coverages:
    
    Special coverages shall mean the following
additional coverages:        Dismantling and assembly expenses;        Product recall costs;        Loss prevention expenses;        Testing and sorting costs.Principal Exclusions:
    
    The policy excludes the following:        Own Damages;        Bodily injury to employees;        Employment-related practices;        Workers Compensation and Occupational Disease;        Charterers Liability;        Damage to property in the custody of or worked upon by
the Insured;        Radioactivity;        Civil War;        Special Substances and Risks;        Intentional Act;        Terrorism in the USA;        Losses relating to environmental damage except for (1)
consequences of a sudden event (2) losses relating to
environmental damage caused by installations for composting
or short-term storage on waste products or purification of
waste water.




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Schedule 3.24
 Location of Material Inventory
 N/A
 Locations of Collateral in Possession of Persons Other Than Any Loan Party
 N/A




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Schedule 6.01(b)
 Existing Indebtedness




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Schedule 6.02(c)
 Existing Liens




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Schedule 6.04(b)
 Existing Investments