Egypt's embattled president has again stated he has no intention to step down, just before the expiry of a military ultimatum.

In a statement, Islamist President Mohammed Morsi warns that his electoral legitimacy is the only safeguard against violence and instability. He said it was a mistake to "take sides."

Morsi's statement came shortly before the expiry of a military ultimatum for him to meet the demands of millions of protesters calling for his ouster or the army will intervene to oversee its own political road map to end the crisis.