Nvidia, Epic and Atari have teamed up to launch the "Ultimate Modding Competition" for UT 2003/4.
Up for grabs, a pre-paid Unreal Engine license worth $350,000, 100 high-end PCs valued at $300,000, Maya Software to the tune of $30,000, and cash prizes totaling $500,000.
The contest is divided into three phases to encourage people to enter early and often, and to keep improving their mods over time. You can enter the same mod in all three phases of the contest but, in order to be judged, there must be noticeable improvements to the mod upon the second or third submission.
And if you're lucky (talented) enough to make it through to the final, an all expenses paid trip to the
Game Developers Conference (GDC) in March 2004.
More information @ Make Something Unreal