The Muslim Brotherhood said on Monday it will set up the "Freedom and Justice Party" to run in elections.
The main opposition group emerged from years of suppression by President Hosni Mubarak as Egypt's only real political force.
It has been playing an ever more assertive role since he was toppled from power on Feb. 11.
But, the Brotherhood said, it will not seek the presidency or a parliamentary majority in the democratic elections the military rulers are promising to hold.
Founded in 1928, the Brotherhood has said its new party will be open to everyone, including members of Egypt's Coptic Christian minority. The movement says it is committed to a pluralistic, democratic Egypt.
Leading members of the group have said it could win up to 30 percent of the vote in a future parliamentary election.
Echoes of Turkey
The name picked for its party echoes that of Turkey's ruling "Justice and Development Party", or AK Party.
"The board of founders will be announced in the coming few days," the Brotherhood said in a statement. "The membership will be open to all Egyptians who accept the party programme."
Like other Egyptians seeking to set up political parties, the Brotherhood are awaiting changes to laws that stopped them from doing so under Mubarak.
A former Brotherhood member on Saturday became the first Egyptian to secure formal approval for a political party since Mubarak was toppled on Feb. 11.
Abou Elela Mady, who left the Brotherhood in the 1990s, had been trying to secure approval for his Wasat Party (Centre Party) for 15 years but was thwarted each time by laws which gave Mubarak's administration tight control over political life.
A Cairo court on Saturday ruled in favour of the Wasat Party's appeal for official recognition.
The Wasat Party, which likens its platform to the AK Party, is one of the forces that could rival the Brotherhood for the support of pious, middle class Egyptians in the elections which the military have promised to hold within six months.
AgenciesLast Mod: 22 Şubat 2011, 10:50