The Associated Press
Wednesday, Oct. 13, 1999; 12:13 p.m. EDT

FRANKFURT, Germany –– Microsoft Corp. is putting up $160,000 to establish awards for literary achievement in the emerging online book industry, the company announced today at the Frankfurt Book Fair.

The U.S. software giant said in a statement that the Frankfurt eBook Awards would be presented annually in seven categories, including a prize of $100,000 for the best work published originally in electronic form.

It said the first recipients would be announced next year at the Frankfurt show, the world's largest book fair.

Online books are designed to be downloaded and read on handheld electronic devices known as eBooks, or on personal computers.