Fmr. Gov. Tommy Thompson Exits '08 Race

ABC News' David Chalian reports: After finishing sixth in yesterday's Iowa GOP straw poll, former Wisconsin Gov. Tommy Thompson announced that he is exiting the presidential race.

Thompson had said in weeks past that he needed to come in first or second place to continue with his candidacy.

In a written statement to supporters, Thompson said he had "no regrets" and "will not leave the challenges of improving health care and welfare in America."The message indicated that Thompson will return to the private sector and non-profit work.

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