MANILA, Philippines – (UPDATE 2) Saying it was not his time, Senator Francis "Chiz" Escudero has dropped plans of joining the 2010 elections.

"I have decided not to run for president in the coming elections. I have decided that I have a role to play even not as a candidate but as a Filipino and an ordinary voter in these times,” Escudero said in his speech in Filipino before his supporters Tuesday.

While he said that it was always the presidency for him, the senator said, "But not at all cost."

"Not at the cost of losing my soul. Not at the cost of losing myself. Not at the cost of being eaten up by the system and the process and certainly not at the cost of not being able to do the things that I want and set out to do," he said at the Club Filipino in Greenhills, San Juan.

Answering questions from reporters after his speech, Escudero made it clear that he would not join the 2010 elections even as vice president.

"[I'm] not running in the coming elections," he said.

Asked what his reasons were in not joining the 2010 polls, Escudero said, “Our means to bring the message to our people and for the simple reason that perhaps this isn’t my time.”

Pressed further, the senator said, "This isn’t the time. This isn’t my time and this isn’t our time."

But asked why he did not consider running for vice president, instead, Escudero said, "Gaya ng sinabi ko, para sa akin [Like I said, for me] it's the presidency but not at all cost."

But Escudero admitted that his closeness with Senator Benigno "Noynoy" Aquino III, who is running for president, was also a consideration in dropping his presidential bid.

“I cannot deny that my friendship with Noynoy was factored in in the decision that I made. If it seems that the times call for him, it is not for a real friend to grab or share that with him. Let us let other people do that but I won’t as a friend,” he said.

At this point, however, Escudero said he has not yet decided who to support in the upcoming elections.

He said he only met with Aquino once and the senator did not ask for any help or favor.