New York Governor Eliot L. Spitzer announced his resignation Wednesday following allegations, but no charges, that he is a client of a high-priced prostitution service ensnared in a federal investigation, CNN reported.

"I am deeply sorry that I did not live up to what was expected of me," he said in a brief news conference announcing his intention to resign, effective Monday.

"I will try once again outside of politics to serve the common good."

With his wife, Silda, at his side, he added, "Our greatest glory consists not in never falling but in rising every time we fall."

Spitzer's lawyers were in discussions Wednesday with the U.S. attorney's office in New York, trying to negotiate a plea deal to avoid prosecution, a source with knowledge of the discussions said.

However, U.S. Attorney Michael Garcia in New York issued a statement saying, "There is no agreement between this office and Gov. Eliot Spitzer relating to his resignation or any other matter."

Spitzer, a former state attorney general whose reputation as a scourge of white-collar crime propelled him to the governor's office in 2006, has faced calls for his resignation since apologizing for a personal indiscretion Monday.

He has not elaborated.

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