In an e-mail release Democrat Dwight Drake said he was ending his bid for S.C. Governor.
Drake is the second of five Democrats to end their campaign for the office, Charleston attorney Mullins McLeod withdrew February 19.
Remaining are S.C. school superintendent Jim Rex, S.C. Sen. Robert Ford and frontrunner S.C. Sen. Vincent Sheheen.
Drake did not endorse another candidate.
Here's the full release:
"Today I am announcing that I am withdrawing from the campaign for South Carolina Governor.
"I got into this race because I believed that South Carolina's families deserved much more than they were getting from their Governor. We are facing the toughest times in a generation, and we can only take that on with dedicated, experienced leadership that is focused on putting our people back to work and building a better future for our kids. I have ambitious ideas for getting our state back on track, and I have the knowledge and experience to put those ideas into action.
"But a statewide campaign for office is not just about these things. It also requires resources - campaign dollars to run in a competitive primary and in a competitive general election.
"I am deeply grateful for - and humbled by - the support I have received from my fellow South Carolinians in the seven months since I began my campaign. As I have put pen to paper in recent days, it's become clear to me that I am not going to be able to marshal the resources needed to run the competitive, substantive campaign that I set out to run.
"I have spent most of my life working to make South Carolina a better place to live, work, and raise a family, and I have done that without ever holding elective office. So, while I withdraw from this race for Governor, I will not withdraw from my commitment to our state.
"I have been blessed and honored by my experience in this campaign - most especially by the good, hard-working people all over our state that I have met and talked with. Now is the time when South Carolina needs its strongest leaders, both inside and outside of government, to do the hard work of rebuilding our economy and setting things right. I intend to do just that."