• Associated Press via ABCNews.com, Tuesday, February 20, 2007 11:16 AM

Mitt Romney will air the first presidential campaign ad from a major contender this week in an attempt to introduce himself to voters in several early primary states. The 60-second spot describes the former Massachusetts governor as a "business legend" who "rescued the Olympics" and "turned around a Democratic state."

Romney, who declined to run for reelection in the Bay State when facing almost certain defeat, says in the ad: "This is not a time for more talk and dithering in Washington. It's a time for action." The spot will air Wednesday in Iowa, New Hampshire, South Carolina, Michigan and Florida.

While fellow Republican Duncan Hunter, a California congressman staging a long-shot bid for the presidency, aired the first ad of either major party last week, Romney's is the first by any candidate deemed to have even an outside chance of winning. Some campaign experts believe the election will cost more than $1 billion by the time it ends in November 2008.

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