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The Nobel Peace Prize (Swedish, Danish and Norwegian: Nobels fredspris) is one of five Nobel Prizes bequeathed by the Swedish industrialist and inventor Alfred Nobel. According to Nobel's will, the Peace Prize should be awarded "to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses."[1] Alfred Nobel's will stated that the prize should be awarded by a committee of five people elected by the Norwegian Parliament. Norway and Sweden were at that time still in union, and with Sweden responsible for all foreign policy, Nobel felt that the prize might be less subject to political corruption if awarded by Norway. The Peace Prize is presented annually in Oslo, in the presence of the king, on December 10 (the anniversary of Nobel's death), and is the only Nobel Prize not presented in Stockholm. "In Oslo, the Chairman of the Norwegian Nobel Committee presents the Nobel Peace Prize in the presence of the King of Norway. Under the eyes of a watching world, the Nobel Laureate receives three things: a diploma, a medal and a document confirming the prize amount."[citation needed] The Nobel Peace Prize Ceremony is held at the Oslo City Hall, followed the next day by the Nobel Peace Prize Concert, which is broadcast to more than 450 million households in over 150 countries around the world. The concert has received worldwide fame and the participation of top celebrity hosts and performers.

Wikipedia Link: http://en.wikipedia.org/wiki/Nobel_Peace_Prize
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