Egyptian president vows to quit in September

Egyptian President Hosni Mubarak has said he will not stand for re-election in September, as protests against his rule grow, BBC News reported.

Speaking on state TV, Mubarak promised constitutional reform, but said he wanted to stay until the end of his current presidential term.

The announcement came as hundreds of thousands rallied in central Cairo urging him to step down immediately.

US President Barack Obama said that Egypt's transition "must begin now".

He said the US would be happy to offer assistance to Egypt during that process.

In a short statement, US President Barack Obama said that it was not his country's right to dictate the path for Egypt, but that any transition must include opposition voices and lead to free and fair elections.

In his address on Tuesday, Mr Mubarak said he would devote his remaining time in power to ensuring a peaceful transition of power to his successor.

"My first priority is to restore peace and stability in our country, to ensure the peaceful transition of leadership, and to ensure that the responsibility goes to whomever the people of Egypt choose in the next election. I do not intend to stand for election again," he said.
Mubarak ended his speech by saying that he would not leave Egypt.

"This is my country. This is where I lived, I fought and defended its land, sovereignty and interests, and I will die on its soil," he said.
Mubarak's speech came after a meeting with US special envoy Frank Wisner, who was said to have urged the president to announce his departure.