All the code, and where it goes, is laid out for you in this Thread:
http://www.vbulletin.com/forum/showthread.php?t=123281
In Post #2 it shows you what to change the code to have it appear after the 4th Post.
<if condition="$post[postcount] %
X ==
0">
For example, if you want the banner to show every 4 posts, then you would change X to 4.
This is where the edits, shown in that Thread go:
Admin CP -> Styles & Templates -> Style Manager -> ? ? ->
Postbit Templates -> postbit or postbit_legacy (depending on which layout you are using. Or both, if you have a user option to select which.
There may already be a Hack which does all the steps for you on vbulletin.org.
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Regards,