Fatah PLO chief Mahmoud Abbas told Egyptian President Hosni Mubarak on Saturday that chances of reaching peace with Israel by the end of 2008 are low.

During a meeting in Cairo, Abbas said that "Jerusalem and the right of return are inalienable Palestinian rights."

Before meeting with Mubarak, Abbas met with President Shimon Peres on Friday at a conference in Italy. The two declared that Israel and the Palestinian Authority were closer to a peace agreement than ever.