LEAD: Republican candidate Cain bows out of US presidential race

Dec 3, 2011, 19:29 GMT

Washington - US Republican presidential candidate Herman Cain on Saturday announced his withdrawal from the race amid allegations of sexual harassment and an extra-marital affair.

'As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign,' he said in a televised speech.

Cain called the accusations baseless and said the main reason for dropping out was because of the 'hurt' the allegations have caused his family.

What he billed as false accusations have sidetracked his ability to provide solutions to Americans and created a cloud of doubt over his campaign, he said.

'These accusations are not true,' he said. 'I am at peace with my God and at peace with my wife and she is at peace with me.'

He will remain active in the political process, he said, but did not specify exactly how he would do so.

Cain has been accused of sexual harassment by four women since he started his campaign. The incidents allegedly took place in the 1990s, when he was head of the National Restaurant Association.

Last week a woman came forward claiming to have had a 13-year affair with the candidate. But Cain, in an interview with CNN, denied the allegations and said he would remain in the race.

His popularity in opinion surveys has declined since the allegations began to surface last month.