Breaking News: Barack Obama wins presidential election

Electoral Votes Count (270 needed to win Electoral College vote):

Obama - 338
McCain -156

Extracts from CNN report.

(CNN) -- Barack Obama told supporters that "change has come to America" as he claimed victory in a historic presidential election.

Sen. Barack Obama addresses a crowd of 125,000 people in Chicago, Illinois.

"The road ahead will be long. Our climb will be steep. We may not get there in one year or even one term, but America -- I have never been more hopeful than I am tonight that we will get there. I promise you -- we as a people will get there," Obama said in Chicago, Illinois, before an estimated crowd of 125,000 people.

With Obama's projected win, he will become the first African-American to win the White House.

Obama's Victory Speech

Barack Obama: "We Have a Lot of Work to Do"