Late Thursday Egyptians awaited an announcment from President Hosni Mubarak, amid military assurances that it will safeguard the nation and oversee reforms. News reports said there is growing speculation that Mubarak will step down - if he has not already done so.

Al Jazeera quoted state television as saying Mubarak was in the presidential palace and would address the nation live. Meanwhile, the crowds in Tahrir Square were growing to what is expected to be the largest gathering yet. An air of celebration seized the pro-democracy demonstrators, even before the shape of what remained a fluid situation was revealed.

The French broadcaster RFI reported that a decision on Mubarak's future is expected within hours, while the BBC quoted a senior member of Egypt's governing party as saying he "hopes" the president will transfer power to Vice President Omar Suleiman. Al Jazeera said the semi-official Al-Ahram newspaper said the armed forces have told Mubarak to go and will safeguard "democracy" for Egypt.

RFI said the armed forces say they've started taking the "necessary" measures needed to protect the nation, and a top military-led council is meeting to map out the political transition.