Philippine President Gloria Macapacal-Arroyo on Thursday granted pardon to convicted former president Joseph Estrada, who was sentenced to life for plunder.

Press Secretary Ignacio Bunye disclosed the information at a press conference on national television.

The 70-year-old Estrada was found guilt of amassing assets worthy of 4 billion pesos (about US$86 million) during his presidency from 1998 to 2001.

Bunye said that with President Arroyo's grant of pardon, Estrada may be able to walk out his Tanay resthouse as a free man by this Friday noon.

He said it is the Arroyo administration's policy to release inmates who have reached the age of 70, and that Estrada has already served more than six years in detention while being tried for plunder.

The deposed president, who was convicted in this September after a six-year trial, submitted his request for Arroyo's pardon on Monday, saying that a "full, free, unconditional" pardon will serve the "highest national interests."

Acting Justice Secretary Agnes Devanadera in earlier this week hinted that the government would consider granting Estrada pardon but only the president has the final say.

Presidential pardon would mean the restoration of the pardoned party's "full civil and political rights," Devanadera said.

The actor-turned-politician president was ousted in a popular revolt in 2001. There were speculations that Estrada might run for government post once he was granted pardon. Bunye on Thursday assured the public that Estrada had committed not to seek office.

While people in Estrada's camp hailed the ex-president's new life as a free man, prosecutors and people who were active in the popular revolt to oust Estrada six years ago expressed their concerns.

Special Prosecutor Dennis Villaignacio, who is involved in Estrada's plunder case, vowed to challenge the executive clemency granted by President Arroyo to former president Joseph Estrada.

Villaignacio said that according to the Constitution, Estrada is not eligible for pardon, an online report of national news network Abs-cbn said late Thursday.

Villaignacio told Abs-cbn that Estrada should show repentance before he is released. He said everyone knows that Estrada has notmade that admission, adding that there should be "substantial incarceration" after the conviction.

(Xinhua News Agency October 26, 2007)