The prize, created in 1992, is awarded each year to the best album by an artist from the UK or Ireland. The nominated albums include Dean's The Art of Loving, which won album of the year at the Brit Awards, and McCartney's latest work, The Boys of Dungeon Lane. Released at the end of May, it was McCartney's first album in five years and reached number one on the UK album charts. The Mercury Prize ceremony will be held on October 22 in Newcastle. Along with a trophy, the winner of the Mercury Prize receives Stg25,000 ($A48,000).