The May Algorithm Challenge is taking place on http://www.codechef.com/MAY11.

Here are the details:
Date: 1st May 2011 to 11th May 2011
Duration: 10 days
Problems: 5 binary problems of varying difficulty levels + 1 challenge problem.

It promises to deliver on an interesting set of algorithmic problems with prizes up for grabs.

The contest is open for all and those, who are interested, are requested to register in order to participate.