Giuliani News Conference Set for 3:15 p.m. ET
LOU WATERS, CNN ANCHOR: We are now hearing that Mayor Giuliani, from New York City Hall, will have a news conference at 3:15, one hour from now, to explain why he's dropping this political bombshell, we are reporting to you today, that he is withdrawing from the race against Hillary Rodham Clinton for the U.S. Senate seat being vacated in New York.