The Egyptian presidency will hold a press conference on Monday to comment on the kidnapped security officers in the Sinai Peninsula, reported a satellite channel.

The conference will notify the public of the latest developments and the steps which are being taken by the authorities to release the kidnapped soldiers.

President Mohamed Mursi has vowed to consider all options to free the hostages who were kidnapped by unidentified Islamist militants last week.

Confirming that the government will not be blackmailed, he added in a meeting with security chiefs on Sunday that all state institutions are collaborating to end the crisis.

A circulating video showed seven blindfolded men, claiming they were the hostages and appealing to Mursi to respond to the demands of the kidnappers.

The kidnappers have asked the president to free their political detainees in exchange for the release of the hostages.