Osama bin Laden is dead

Al-Qaeda leader Osama bin Laden is dead and US forces have seized his body, President Barack Obama has confirmed.

Speaking in a televised address to the world, President Obama announced Bin Laden was killed in a fire fight with US special forces earlier today.

The small crack team carried out the attack on a mansion in Abbottabad, Pakistan, about 65km from the capital city Islamabad, where Bin Laden had been in hiding.

"After a fire fight, they killed Bin Laden and took custody of his body," the President confirmed.

"On nights like this one we can say to those families who have lost loved ones to al-Qaeda terror, justice has been done."

Americans took to the streets in celebration, with joyous crowds waving flags and cheering outside the White House, in Washington, and at the site of the World Trade Centre, in New York.

But officials have been keen to stress Bin Laden's death does not mean the threat of terrorism against the western world is over.

The US State Department has issued a global travel alert to all Americans, warning the news could spark "enhanced potential" for anti-American violence.

Prime Minister Julia Gillard has also warned Australians travelling overseas to take extra care.

"We are advising Australians in areas likely to be affected by gatherings outside hotels, gatherings and demonstrations, to exercise enhanced vigilance regarding their personal security.”

Ms Gillard said Bin Laden's death was a small justice to those grieving, but the threat of al-Qaeda was far from over.

"I trust that today's news comes as some small measure of justice for those who still grieve the loss of their loved ones," she said.

"Every Australian has been touched and affected by acts of terrorism by al-Qaeda .... consequently, every Australia will be touched by this news today."

President Obama said US intelligence tracked the al-Qaeda leader to a walled compound "deep inside" Pakistan last August, but claimed forces could not carry out a raid to "capture or kill" him until their information was confirmed.

"Last week I determined we had enough intelligence to take action," he said.

A small US special forces team reportedly carried out the attack via a helicopter raid on Sunday.

"No Americans were harmed. They took care to avoid civilian casualties," the President said.

"His demise should be welcomed by all who believe in peace and human dignity."

US media reports said that bin Laden's body had been buried at sea, in a bid to prevent his final resting place from becoming a shrine for extremists.

US armed forces have been hunting the Saudi terror leader for years, even before the 2001 attacks on the World Trade Centre, in New York, and The Pentagon which killed 3000 people.

But Bin Laden had evaded US armed forces and a massive manhunt, and was thought to be hiding out in Pakistan and Afghanistan border areas.

The death of Bin Laden will raise huge questions about the future shape of al-Qaeda and is likely to have steep implications for US security and foreign policy 10 years into a global anti-terror campaign.

It will also increase fears the United States and its allies will face retaliation from supporters of Bin Laden and other Islamic extremist groups.

Former US presidents have reacted to the news of Bin Laden's death, with George W Bush describing the operation as a "momentous achievement" that "marks a victory for America, for people who seek peace around the world, and for all those who lost loved ones on September 11".

Bill Clinton has also congratulated President Obama, the National Security team and US armed forces for "bringing Osama bin Laden to justice after more than a decade of murderous al-Qaida attacks".

World leaders applauded the news. Israeli Prime Minister Benjamin Netanyahu congratulated Obama in a written statement, while New Zealand Prime Minister John Key told reporters the World was a safer place without Bin Laden.

Born in 1957, Bin Laden was a son of Saudi Arabia's wealthiest construction magnate.

Saudi sources remembered him as a typical young man. They said his intense religiosity began to emerge as he grew fascinated with the ancient mosques of Mecca and Medina, which his family's company was involved in rebuilding, ABC News reports.

He was expected to join the family business after attending university, but chose a different path.

It was at university that Bin Laden met the Muslim fundamentalist Sheik Abdullah Azzam, perhaps his first teacher of religious politics and his earliest radical influence.

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