High Quality Content by WIKIPEDIA articles! The Abel Prize is an international prize presented annually by the King of Norway to one or more outstanding mathematicians. The prize is named after Norwegian mathematician Niels Henrik Abel (1802 1829). It has been often described as the "mathematician's Nobel" prize and is among the most prestigious awards in mathematics. It comes with a monetary award of six million kroner, which in 2009 was 684,000 or US$929,000. The Norwegian Academy of Science and Letters annually declares the winner of the Abel Prize after selection by a committee of five international mathematicians. The committee is headed by Kristian Seip. The amount of money that comes with the prize is usually close to US$ 1 million, similar to the Nobel Prize, which is awarded in Sweden and Norway and excludes mathematics. Norway gave the prize an initial funding of NOK 200,000,000 (about US$23,000,000) in 2001. The prize is an attempt at creating publicity for mathematics, making the discipline more prestigious, especially for young people.