Mubarak Flash 90

Egyptian President Hosni Mubarak has announced that he has surrendered all his presidential authorities in favor of a ruling military junta. He said late Thursday afternoon that the demands of the protestors, thousands of whom are gathered in central Cairo's Tahrir Square, would be met, and their rights upheld.

It was reported slightly earlier on Thursday that Hossam Badrawy, secretary-general of Mubarak’s ruling National Democratic Party, had said he told Mubarak in a phone call that he should take that step, and that he believed Mubarak would do so.

A huge crowd gathered in Tahrir Square yet again this afternoon, and a military officer told them that top military officials were convening and planning to support the people's demands. Egyptian state television, too, reported that the army was preparing to take control.

Mickey Gordis of IBA, monitoring Egyptian broadcasts, reported shortly before 6 PM that Mubarak had made the dramatic announcement.