PLEASE SEE UPDATES BELOW. Liberal Party President and Senator Mar Roxas II made the following “major and important announcement” tonight at the historic Club Filipino.

After months of being considered LP’s presidential candidate-in-waiting, Roxas formally gave way to partymate Senator Noynoy Aquino, son of former President Cory Aquino and former Sen.  Ninoy Aquino. Noynoy and other LP leaders joined Roxas at the press conference.

Roxas could not have chosen a better date to make this announcement as it falls exactly a month after the death of President Aquino who herself took her presidential oath of office at the same venue.

However, Roxas did not directly state that he is open to be Aquino’s runningmate or whether he will abandon plans to run for higher office and instead run for reelection as senator next year.

Following are excerpts of Sen. Roxas’ statement: