Al Arabiya reports that Mubarak will speak in the wake of today’s mass protest in Cairo.

Separately, the satellite channel reports that the new VP’s office has started meeting with members of the opposition.

UPDATE: Al Arabiya reports Mubarak will say he will not run for a new term as president and will heed protesters demands during his term. His term is scheduled to end in September.

That would be an outcome, as far as the western powers are concerned. Not sure the protesters will go for it though…