He began with a word of encouragement for northern residents, who had come under a barrage of Katyusha rocket fire after midnight by Hizbullah terrorists in southern Lebanon. Barak promised to work for a speedy resolution of the situation in Lebanon.

Barak thanked Prime Minister Binyamin Netanyahu for his achievements in office and wished him well on his future course.

"We are one nation," Barak told the cheering crowd, which interrupted him constantly with applause. "I will be the prime minister of the entire country," Barak declared.

"I want to thank the two million citizens who voted for me," he concluded, also expressing gratitude to the party workers who helped bring about his stunning victory.

Finally, Barak thanked the late Yitzhak Rabin, whose legacy he promised to continue.