Registration Required to Redeem Xbox Live's Five-Year Subscriber Gift
An e-mail with registration instructions should have been sent out to eligible members, but five-year members can also follow this link to register with the Windows Live ID connected to their gamertag. Registration is open until midnight on November 29.
After registering, an e-mail should be sent by December 21 containing a code to unlock the 500 Microsoft Points points on Xbox Live Marketplace. Xbox Live members without the appropriate five-year tenure won't be eligible for free points, but they can still enjoy a free full download of Carcassonne for a limited time.
From The Chatty
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I was wondering about this. Thanks for the update Carlos.