Tim Davies is the only finalist from the UK

At �40,000, the Artes Mundi (Arts of the World) prize is the biggest award to be offered to an individual artist.

The winner will be announced in March, with the exhibition, at the National Museum and Gallery in Cardiff confirmed to take place between 7 February and 18 April.

Among the 10 hopefuls is the only UK entrant to make it onto the shortlist, 43-year-old Tim Davies from Swansea.

SHORTLISTED ARTISTS Janine Antoni, New York Lee Bul, Seoul Tim Davies, Swansea Jacqueline Fraser, New Zealand Jun Nguyen-Hatsushiba, Vietnam Michal Rovner, New York & Israel Berni Searle, Cape Town Fiona Tan, Netherlands Kara Walker, New York Xu Bing, New York

The prize offers artists twice the sum given to the winner of the Turner Prize, and is paid for by a number of Welsh organisations, including the Arts Council of Wales, the Welsh Development Agency and the Welsh Assembly Government.

The exhibition will include a variety of media, film and video installations, and sculpture.

Installation artist Tim Davies and the nine other finalists were selected from more than 350 artists from 55 countries.

The selectors for the shortlist were Declan McGonagle, former director of the Museum of Modern Art, Dublin, and Fumio Nanjo, an international Japanese curator.