...for a modest Aussie building society

The last time Jerry Seinfeld was persuaded to make an advert, Microsoft paid him $10million for a campaign that was almost universally panned.

But now he has agreed to promote a modest Australian building society for a fraction of that eight-figure fee.

He will advertise the New South Wales-based Greater Building Society on TV, radio, print and the internet over the next two years.

The organisation, which has 66 branches and 250,000 members, would not reveal how much they paid for Seinfeld’s services, except to say ‘between $10.50 and $10million’.

Seinfeld – who has only previously represented multinational giants Microsoft and American Express – is said to have been persuaded to take part because he liked the ideas behind the ads.

The fist ad has just been unveiled, having been filmed over two days in the small New York town of Cedarhurst, which stood in for a typical Australian street so Seinfeld wouldn’t have to make the long trip down under.rnGreater’s marketing head John Dwyer said: ‘We didn't think in our wildest dreams he would say yes.’

Here is the ad:

Published: 9 Jul 2009