Halifax, NS - October 11, 2006 - The $50,000 Sobey Art Award, presented biennially since 2002, will, as of November, be awarded annually to a young Canadian artist.

“Moving the Sobey Art Award to an annual model as well as our partnership with Scotiabank and the Art Gallery of Nova Scotia ensures that the future of the Sobey Art Award is bright, indeed,” said Donald Sobey, chairman, Sobey Art Foundation. “Canadian artists under 40 are the future of the arts in this country, and we are proud to be supporting their efforts. The Sobey family and the Sobey Art Foundation are also proud to be able to share this future with Canadians.”

The Sobey Art Foundation is also pleased to announce that Scotiabank is joining as sponsor in an ongoing partnership that will help to increase awareness of contemporary art and foster excellence in art across the country.

“As the Presenting Sponsor of the 2006 Sobey Art Award we are entering an exciting new phase in what is already Canada’s premier award for young visual artists,” said Rick Waugh, president and chief executive officer, Scotiabank. “Our long-standing relationship with the Sobey family and our mutual commitment to promoting excellence in visual art in Canada makes this a particularly fulfilling partnership.”

The Sobey Art Award is given to an artist under 40 who has had a show in a public or commercial art gallery within 18 months of being nominated. A panel of curatorial advisors, one from a major gallery in each of five regions (Atlantic, Quebec, Ontario, Prairies/North and West Coast) decides the shortlist, and the winner. It is administered by the Art Gallery of Nova Scotia.