In a statement issued on Friday he said he reversed an earlier decision to stay out of the race after after his supporters urged him to run for presidency.

Suleiman’s next step is to get the endorsement of 30,000 supporters by Saturday before officially submitting his application to run, Reuters reported.

A leading figure in Egypt’s intelligence system beginning in 1986, Suleiman was appointed as vice president by Hosni Mubarak .On 11 February 2011, Suleiman announced Mubarak’s resignation and ceased being Vice President and governing power was transferred to the military council.

Under Mubarak, Suleiman served as a negotiating partner for the United States, Israel and the Palestinians,orchestrating a series of short-lived truces.

Many in Egypt regard Suleiman as having formed part of the inner circle of Mubarak.

The military says it will hand power  by the end of June. The front runners of the elections include Khairat el-Shater, a leader of the powerful Muslim Brotherhood, and former foreign minister and Arab League chief Amr Mussa.

Egyptians will vote on May 23 and 24 in what is regarded as Egypt’s first free and fair presidential race.