A British billionaire says a man arrested for streaking during a rally by President Obama was trying to win his $1m challenge.

Juan Rodriguez was charged with indecent exposure, public lewdness and disorderly conduct after streaking at the rally in Philadelphia.

Alki David had offered $1m to anyone who could streak in front of Obama with the name of his Battlecam.com website on his chest.

Rodriquez, from New York, said he was confident that he had met all of the conditions of the challenge, reports the Philadelphia Inquirer.

But Mr David said the money would only be paid if the streaker had made it to within earshot and eyesight of the president.

"We're waiting to review all the video footage and we'll be back with a statement tomorrow," said Mr David.

The rules of the challenge - issued last month - also included shouting the name of the website six times.

Mr David admited that his only motive in issuing the challenge was to attract publicity for his website.

"Streaking is an age-old tradition and it's one that does get attention. You marry a naked person and Mr Obama together in one event and it's very good," he said.

"I have to make it very clear, however, that I'm quite a fan of the president. It has nothing to do with him."

No pictures please!