Alfred Nobel died in December 1896. In January 1897 the contents of his will were unveiled. It was written as early as in 1895. He declared that a Nobel Peace Prize should be awarded "to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses", and that some of Nobel's money was to be donated to this prize. The Nobel Foundation manages the assets. The other Nobel Prizes were to be awarded by Swedish bodies (Swedish Academy, Royal Swedish Academy of Sciences, Karolinska Institutet) that already existed, whereas the responsibility for the Peace Prize was given to the Norwegian Parliament, specifically "a committee of five persons to be elected" by it. A new body had to be created—the Norwegian Nobel Committee.