Cease-Fire Agreement

Summit outcome: Deal to stop violence against Palestinians and Israelis

Palestinian leader Mahmoud Abbas says they have a deal. Emerging from today's summit at Red Sea resort in Egypt, Abbas announces a cease-fire agreement with Israeli Prime Minister Ariel Sharon.

The Palestinian leader says "We have agreed on halting all violent actions against Palestinians and Israelis wherever they are." Sharon also made a similar pledge, saying, "Israel will cease all its military activity against all Palestinians everywhere."

Sharon also says he hopes for a Palestinian state that can eventually exist alongside Israel. A senior Israeli official says the two leaders have agreed to meet privately. Abbas has accepted an invitation to visit Sharon at his ranch in southern Israel.