Egyptians during the weekend voted in favor of a series of constitutional amendments meant to usher in new parliamentary and presidential elections this year.
Former lawmakers, in the wake of the referendum, announced they were forming a party dubbed February 11 in honor of the day Hosni Mubarak resigned as president of Egypt.
Founding member al-Sayed al-Fayoumi was quoted by Egyptian newspaper Al-Masry Al-Youm as saying the party "aims to achieve freedom, justice and democracy for Egypt."
The amendments include measures that limit presidential terms and give the judiciary more oversight in voting. Last year's elections were condemned by the international community after Mubarak's party swept the polls.
The Muslim Brotherhood, the largest reform movement in Egypt, hailed the measure as a sign of a speedy transition to military rule. Opponents say a hasty transformation leaves many developing parties out of the emerging political climate in Egypt.
At least 25 million of the 40 million people eligible to vote participated in the balloting to change Egypt's constitution, election officials said.