London – Gallerist Cynthia Corbett today announced that her Art Prize will no longer be sponsored by Trafigura, and will instead be renamed the Young Masters Art Prize.

Cynthia explains “Since the prize was conceived 2 years ago we approached various art foundations and corporate organizations to sponsor an art prize.  We feel that the recent events involving Trafigura are detracting from the main purpose of the prize, which is to celebrate emerging and newly established artists.”

The Young Masters Art Prize will be awarded to one of sixteen international artists who have been chosen to exhibit work at the Young Masters exhibition, which opened at The Old Truman Brewery last Thursday night with over 1200 visitors.

The winner of the Young Masters Art Prize will be announced on Tuesday 3 November, and the prize will be continued each year, with funding for the prize money sourced for alternative sponsors. This year the prize will be non-monetary.

The Young Masters Art Prize will be judged by an independent panel of high profile artists, journalists and historians.

For further information please contact The Cynthia Corbett Gallery

T. +44 (0) 208 947 6782  M. +44 (0) 7939 085 076 email info@thecynthiacorbettgallery.com or visit www.thecynthiacorbettgallery.com

For all media enquiries please contact

Alice Parsons or Will Paget, PagetBaker Associates T + 44 (0)207 323 6963

email alice@pagetbaker.com or will@pagetbaker.com

Notes to Editors:

For information on Young Masters please refer to www.young-masters.co.uk & www.thecynthiacorbettgallery.com

Selected work from Young Masters is exhibited at Sphinx Fine Art, 125 Kensington Church Street, W8 until 5 November 2009 (10am – 6pm).

The entire collection of Young Masters is exhibited at The Old Truman Brewery, F Block, T5 from 15 October – 3 November 2009 (11am – 6pm).