Do Amazon Kindle Special Offers Ads Display While Reading?

“I’m thinking of buying a new Amazon Kindle e-reader. I’m ok with paying less and putting up with the advertising in the Special Offers version, but I’m curious if the ads display while I’m reading a book?”
I have owned each generation of the Amazon Kindle line now known as the Kindle Keyboard. None of the Kindle devices I owned had the Special Offers feature, because it hadn’t started at the time I purchased. I just purchased the new Amazon Kindle that is the cheapest starter version and was concerned about whether I’d be annoyed by ads while reading too.

Fortunately Amazon has promised that they will only show ads on the screen saver or on the Home screen that provides a list of ebooks, magazines and other reading materials on your Kindle. So far, I have not seen a Special Offer I find useful for my needs, but I also haven’t found myself annoyed by seeing the ads in either of these locations.
The screen saver ads are very tasteful photographs and the ad on the home screen takes up about an inch of the bottom of the screen. I haven’t found myself viewing either location as an ad at all.