We do the same out here in California (Uferland) as Earlydean suggests.
In residential work, the electrode is normally brought up in an outside wall as close to the service location as is possible.
Mounting the ring facing out with a weatherproof plate rather than in through the drywall can save some headaches when nobody "wants that cover on my beautiful drywall" or goes and installs closed-back cabinetry in front of it.

[This message has been edited by electure (edited 12-10-2006).]