I have received several post cards and emails about this competition. I just got a prospectus in the mail. If you read the information on the back, it looks to me like you are signing over ALL rights to reproduction of the work. Not just for advertising like most show, but any reproduction and the use of your name... and this is just for entering the show, not for the winners. So with the entries, the have a built in library of images to make prints and any other item they choose. They say they will give the artist 10% royalty on limited edition items, but flat rates on things like posters and note cards. For posters and note cards they could sell millions of, you get $50-$100 flat rate.
Scary world out there for artists! Always read the fine print, and never, ever give away your copyright!