"Tonight, I can stand before you and say that I will be the Democratic nominee for president of the United States," he told 17,000 joyful supporters in St. Paul, Minnesota, in the same arena where the Republican Party convention will be held in September.

His announcement came after projections indicated he had gained enough delegates to clinch the nomination. However, his rival, Hi

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llary Clinton, refused to concede, saying in New York that, "This has been a long campaign and I will make no decisions tonight."

The New York senator said she would talk with party leaders and supporters before deciding on her next move.

There were suggestions that Obama was considering naming Clinton, who was looking to become the first woman to stand for U.S. president, as his running mate.

"Senator Hillary Clinton has made history in this campaign not just because she's a woman who has done what no woman has done before, but because she's a leader who inspires millions of Americans," he said.

Tuesday night saw Obama win at least 15 delegates in South Dakota and Montana. He also picked up a number of superdelegates, including some who had previously backed Clinton.

Obama, 46, the son of a black Kenyan father and white mother from Kansas, will go into the November U.S. presidential elections as the first black candidate in the country's history.

He will face the Republican Party candidate, John McCain, 71.

Illinois Senator Obama attracted more campaign contributions from the securities and investment industry than any other candidate according to the Center for Responsive Politics. He received $7.91 million compared to Clinton's $7.14 million and McCain's $4.15 million.

WASHINGTON, June 4 (RIA Novosti)