EGYPTIAN President Hosni Mubarak said tonight he will not run for a new term in office in the September elections.
The embattled leader pledged to work during the rest of his term for a peaceful transfer of power in a new attempt to defuse massive protests demanding his immediate removal.
In a speech broadcast on state TV, Mubarak said: "In all sincerity, regardless of the current circumstances, I never intended to be a candidate for another term."
He said he would work "during the final months of my current term to carry out the necessary steps for the peaceful transfer of power".
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