Nova Scotia Premier John Hamm has officially announced his retirement.

The premier made the announcement today in the Red Room of the NS Legislature.

The premier says he will step down as leader of the PC Party of NS and Premier of NS after his party elects his successor.

Mr. Hamm has been involved in provincial politics for 12 years, six as premier. The announcement is expected Thursday afternoon, according to sources.

Hamm, 67, was considering a snap fall election, but backed-off after polls indicated his party's popularity was slipping.

Sources say Mr. Hamm told his closest friends about his decision to retire earlier this week.

Hamm became leader of the Progressive Conservative Party of Nova Scotia in 1995. His party won 14 seats in the 1998 provincial election and held the balance of power in a minority government where both the Liberal Party and the New Democratic Party had nineteen seats.

His party defeated the government on a budget vote in May 1999, in the subsequent election on July 27, 1999, Hamm became the new Premier, winning 29 of the 52 seats in the provincial legislature.