London beats Paris to 2012 Games
Crowds celebrate in London's Trafalgar Square
Live Olympics reporters' log
The 2012 Olympic Games will be held in London, the International Olympic Committee announced on Wednesday.
London won a two-way battle against Paris at the IOC vote in Singapore, after bids from Moscow, New York and Madrid were eliminated.
Paris had been favourites throughout the campaign but London's hopes were raised after an impressive presentation by Lord Coe, the bid chairman.
IOC president Jacques Rogge made the dramatic announcement at 1249 BST.
Tension had filled the air as crowds gathered in both capital cities to await the verdict - outside the Hotel de Ville in Paris, and at a pre-planned 'party' in Trafalgar Square respectively.
It will be the first time the Olympics has been held in Britain since 1948.
This is how the decision was made by the IOC in Singapore on Wednesday:
* All five bidding cities gave final 45-minute presentations to the IOC members before the vote began.
* The electronic ballot started at 1126 BST. Moscow, New York and Madrid were eliminated from the race in the first, second and third rounds of voting.
* The final round of voting finished at about 1145 BST, with the committee reconvening at 1230 BST for the official announcement.
Wednesday's decision brings to an end the 18-month race to win the host contract for the 2012 Games.
And it was the most keenly-fought bidding contest in recent years.
Paris was considered the front-runner for much of the campaign, and was highly rated in the initial evaluation and also by the inspectors after their visits earlier in the year.
But it was widely recognised that bid leader Lord Coe, a high-profile personality within the IOC and other governing bodies, hauled London closer to the French capital as the vote approached.
Madrid was seen as a consistent but not outstanding candidate, while New York's bid was dogged by problems over their proposed stadium, and Moscow was always seen as the rank outsider.
Once attention moved to Singapore, the bidding cities called on political and sporting heavyweights to champion their causes.
And the spotlight inevitably focused on Paris and London in the days leading up to the vote.
The two cities had President Chirac and Prime Minister Blair respectively in their corners.
Mr Chirac actually took part in the French capital's final presentation on Wednesday, while Mr Blair opted to lobby alongside the London bid team in Singapore before flying back to Britain to host the G8 summit.
London also called on England captain David Beckham and a galaxy of Olympic and Paralympic medallists as ambassadors, while footballers Laurent Blanc and Zinedine Zidane were among those backing the Paris bid.