The Philippine army intelligence chief resigned Wednesday following a failed military mutiny but warned that the current political crisis is far from over.

Brig. Gen. Victor Corpus (search), whose resignation was demanded by the mutineers, said he quit to ease restiveness among the soldiers following Sunday's bloodless uprising.

"The current political crisis is far from finished. There is still deep restiveness in the officers' corps," Corpus wrote to President Gloria Macapagal Arroyo (search), who accepted his resignation.

Corpus, a former communist guerrilla leader, was the first military official to step down following the failed rebellion.

The 296 soldiers and officers who took over a commercial and shopping complex in Manila's (search) financial district accused Corpus of incompetence and involvement in a recent deadly bombing to justify more military aid from Washington.

The mutineers claimed Corpus was in the southern city of Davao when the bomb exploded in a crowded wharf, killing 16 people in April. They said Corpus was either involved or so incompetent he failed to detect the attack.

The mutineers, who are being interrogated at military intelligence headquarters, also demanded the resignations of Defense Secretary Angelo Reyes and National Police chief Gen. Hermogenes Ebdane.

Corpus dismissed the accusation that he had a hand in the Davao bombing as without basis, but he said: "I think that it is best for all that I get out of the picture.

"In chess, when a queen is beleaguered, it is sometimes necessary to sacrifice a knight to save the game. I feel that the restiveness will not calm down with my continued presence."

Authorities on Tuesday charged Ramon Cardenas, a close ally of disgraced ex-President Joseph Estrada, with rebellion, accusing him of aiding young disaffected military officers who led the brazen uprising.

Police also are investigating another high-profile Arroyo opponent, Sen. Gregorio "Gringo" Honasan, who staged at least two of the attempted coups that plagued then-President Corazon Aquino after the 1986 "people power" revolt toppled late dictator Ferdinand Marcos. Honasan has denied involvement.

Arroyo has still not rescinded her weekend state of rebellion declaration that gives authorities power of arrest without warrants. Security forces are also still on high alert.