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NEWSWIRE.CO.NZ : 22 January 2007

Hillary Institute NZ’s Nobel Equivalent

Prime Minister Helen Clark says a new Institute formed in Sir Edmund Hillary's name is intended to provide a New Zealand equivalent of the Nobel prize.

The Hillary Institute, which aims to foster outstanding international leadership, will provide a $1 million award every four years.

The award will be called the 'Hillary Step' after the difficult section just below the summit of Mount Everest that Sir Edmund conquered in 1953.

Miss Clark says the award is intended for someone who is already displaying outstanding leadership but is still in mid-career.

Sir Edmund Hillary says he is very happy to have his name associated with the new Institute.

Institute spokesperson David Caygill says the institute was inspired by Sir Edmund's lifetime of personal achievement and will recognise someone who has already displayed outstanding leadership, but is still in mid-career.

Sir Edmund says he thinks it is a great idea.

The Institute, which will be formally launched later this year, is aiming to raise $15 million, the first $2.5 million of which has already been donated by businesswoman Jan Cameron, founder of outdoor clothing and accessories store Kathmandu.

She is encouraging five other individuals to match her donation.