Mubarak says he will not run for a new term

CAIRO, Egypt — Egyptian President Hosni Mubarak says he will not run for a new term in office in September elections.

In this image from Egyptian state television  aired Tuesday evening Feb 1 2011

In this image from Egyptian state television aired Tuesday evening Feb 1 2011

CAIRO, Egypt — Egyptian President Hosni Mubarak says he will not run for a new term in office in September elections.

Mubarak says he will work during the rest of his term for a “peaceful transfer of power” in a new attempt to defuse massive protests demanding his immediate ouster.

In a speech aired on state TV Tuesday night, Mubarak said, “In all sincerity, regardless of the current circumstances, I never intended to be a candidate for another term.”

He says he will work during “the final months of my current term” to carry out the “necceasary steps for the peaceful transfer of power.”