It'll be the "Best of Both Worlds" at this year's Billboard R&B/Hip-Hop Awards show: R. Kelly and Jay-Z, who released a collaborative album of that name in 2002 on Jive, lead the finalists for the

It'll be the "Best of Both Worlds" at this year's Billboard R&B/Hip-Hop Awards show: R. Kelly and Jay-Z, who released a collaborative album of that name in 2002 on Jive, lead the finalists for the 2004 awards, contending in eight and seven categories, respectively.

The event will take place Aug. 6 at the Eden Roc Resort in Miami Beach, capping the three-day Billboard R&B/Hip-Hop Conference.

Beyoncé, Lil Jon & the East Side Boyz and Alicia Keys are finalists in five categories each, while Chingy and OutKast will each contend in four.

Beyoncé's "Dangerously in Love" (Columbia/Sony Music), Jay-Z's "The Black Album" (Roc-A-Fella/Def Jam/IDJMG), "The Diary of Alicia Keys" (J/RMG) and OutKast's "Speakerboxxx/The Love Below" (LaFace/Zomba) are up for R&B/Hip-Hop album of the year. Competing in the R&B/Hip-Hop singles category are Kelly's "Step in the Name of Love" (Jive/Zomba), Lil Jon & the East Side Boyz's "Get Low" (BME/TVT), OutKast's "The Way You Move"(LaFace/Zomba) and YoungbloodZ's "Damn!" (So So Def/Zomba).

Beyoncé, Jay-Z, Kelly and Keys are each finalists for the R&B/Hip-Hop artist of the year award, while Kelly, Jay-Z, Kanye West and Christopher Bridges are up for top songwriter honors.

The awards are based on performance on the Billboard charts in the period from May 31, 2003, through May 22, 2004.

For a full list of finalists, click here.