Franklin,  Tennessee  - December  4,  2008  - Noranda  Aluminum  Holding  Corporation  today  announced  a  company‐wide  workforce  and  business  process  restructuring  that  will  reduce  Noranda?s  operating  costs,  conserve  liquidity  and  improve  operating  efficiencies.   This  restructuring  is  expected  to  generate  cash  cost  savings  and  operating  efficiencies  through  the  work  force  reduction  of  aproximately  $23  million  annually.    

"Noranda  remains  committed  to  its  strategy  to  improve  productivity  and  grow  its  business  to  support  our  customers,  communities,  suppliers,  co‐workers  and  investors,"  said  Layle  K.  "Kip"  Smith,  Chief  Executive  Officer  and  President.   "Current  economic  conditions  require  that  we  take  accelerated  actions  to  reduce  our  costs,  improve  our  productivity  and  conserve  our  liquidity,  so  that  we  can  continue  to  build  a  long‐term  sustainable  company.   This  restructuring  initiative,  which  is  a  continuation  of  our  CORE  cost  savings  and  productivity  program,  will  position  our  company  better  in  the  short‐term  and  build  a  strong  foundation  for  our  future."  

The  work  force  restructuring  plan  involves  a  total  staff  reduction  of  approximately  338  employees  and  contract  workers.   The  reduction  in  the  employee  work  force  includes  228  affected  employees  in  our  upstream  business.   These  reductions  will  occur  during  the  fourth  quarter  of  2008  and  the  first  quarter  of  2009.   The  reductions  at  our  downstream  facilities  in  Huntingdon,  Tenn.,  Salisbury,  N.C.,  and  Newport,  Ark.  include  96  affected  employees.   These  reductions  will  be  substantially  completed  during  the  fourth  quarter  of  2008.   

It  is  estimated  that  these  actions  will  result  in  one‐time  pre‐tax  charges  to  be  recorded  in  the  fourth  quarter  of  2008  of  approximately  $7  million  to  $12  million,  primarily  due  to  one‐time  termination  benefits.   Substantially  all  of  these  charges  will  result  in  cash  expenditures.   

Forward‐looking  Statements  

This  press  release  contains  "forward‐looking  statements"  which  involve  risks  and  uncertainties.   You  can  identify  forward‐looking  statements  because  they  contain  words  such  as  "believes,"  "expects,"  "may,"  "should,"  "seeks,"  "approximately,"  "intends,"  "plans,"  "estimates,"  or  "anticipates"  or  similar  expressions  that  relate  to  our  strategy,  plans  or  intentions.   All  statements  we  make  relating  to  our  estimated  and  projected  earnings,  margins,  costs,  expenditures,  cash  flows,  growth  rates  and  financial  results  or  to  our  expectations  regarding  future  industry  trends  are  forward‐looking  statements.   Readers  are  cautioned  not  to  place  undue  reliance  on  forward‐looking  statements,  which  speak  only  as  of  the  date  on  which  they  are  made  and  which  reflect  management's  current  estimates,  projections,  expectations  or  beliefs  and  which  are  subject  to  risks  and  uncertainties  that  may  cause  actual  results  to  differ  materially.   We  undertake  no  obligation  to  publicly  update  or  revise  any  forward‐looking  statement  as  a  result  of  new  information,  future  events  or  otherwise,  except  as  otherwise  required  by  law.   

Noranda's  actual  results  or  performance  may  differ  materially  from  those  suggested,  expressed  or  implied  by  forward‐looking  statements  due  to  a  wide  range  of  factors  including,  but  not  limited  to,  the  general  business  environment  and  fluctuating  commodity  prices.   For  a  discussion  of  additional  risks  and  uncertainties  that  may  affect  the  future  results  of  Noranda,  please  see  "Cautionary  Statement  Concerning  Forward‐Looking  Statements,"  "Rick  Factors"  and  "Management's  Discussion  and  Analysis  of  Financial  Condition  and  Results  of  Operations"  in  Noranda?s  Registration  Statement  on  Form  S‐1,  as  amended,  filed  on  July  17,  2008,  and  "Management's  Discussion  and  Analysis  of  Financial  Condition  and  

Results  of  Operations"  in  Noranda's  Quarterly  Reports  on  Form  10‐Q  and  other  items  throughout  the  Forms  10‐Q  and  Noranda's  2008  Current  Reports  on  Form  8‐K.  

Noranda  Aluminum  Holding  Corporation  is  a  leading  North  American  integrated  producer  of  value‐added  primary  aluminum  products,  as  well  as  high  quality  rolled  aluminum  coils.   The  company  has  two  businesses.   The  primary  metals  business,  or  upstream,  produces  approximately  259,000  metric  tons  of  primary  aluminum  annually.   The  Rolled  Products  facilities,  or  downstream  business,  represent  one  of  the  largest  foil  producers  in  North  America  and  a  major  producer  of  light  gauge  sheet  products.   Noranda  Aluminum  Holding  Corporation  is  a  private  company  owned  by  affiliates  of  Apollo  Management,  L.P.   

Contact:  

Kyle  Lorentzen  

Chief  Financial  Officer  

(615)  771‐5748  

Kyle.Lorentzen@noralinc.com