no

Nope, it won't.   On a digital it's pretty easy to set exposures by
guess *and then verify with the LCD / histogram*, but that's not good
enough for some things (where there's only one chance, often).  I used
old manual focus lenses a lot on my Fuji S2 even though it wouldn't
meter with them, but I'm glad my D200 supports metering through them.

According to Scott Speck <kaiju@comcast.net>:

    Not only would the metering not work, but you possibly would not
even be able to mount the lens on the camera without damaging something.
If the lens is one of the older ones made for the Nikon-F, without the
"AI" (Aperture Indexed) aperture ring, it would bind on the sensor near
the stop-down button on the front of the camera body (or does the D50
even have that button).  Anyway -- it is a little black piece of plastic
projecting from about the 7:00 position when you view the lens mount
from the lens side of things.  It senses whether or not the aperture
ring is set to minimum aperture, to allow the camera body to fully
control the aperture throughout the range.  Note that your "kit" lenses
will have no aperture ring, but they convince the body that things are
fine via the communication through the electrical interface contacts.

    However, there are AF 50mm f1.4 lenses.  I picked up one used
about a year ago for $100.00 from the local camera store.  To the left
of the focus window it is marked "Nikon" "AF NIKKOR", and to the right
it is marked "50mm" and "1:1.4".  It has pretty much the same markings
around the lens front element.  Not only does it mount with no problems,
but it meters properly as well.

    And it works very nicely for low light photography.

    Good Luck,
        DoN.