This is not to be confused with stepping down, what the protesters are calling for. It is his attempt at a comprise; 'let me leave on my terms and I will leave soon'. It is doubtful enough of the protesters will be willing to accept the deal.
"Embattled President Hosni Mubarak announced Tuesday that he would not run for another term in office, a concession that seemingly failed to appease many Egyptians who marched a million strong to demand that his 30-year-rule end immediately.
Mubarak said he would serve out the last months of his term, which expires in September, and "die on Egyptian soil." He promised not to seek re-election, but that did not calm public fury as clashes erupted between his opponents and supporters."