Obama said he was surprised and deeply humbled by the honor, and planned to travel to Oslo in December to accept the prize.
"Let me be clear: I do not view it as a recognition of my own accomplishments, but rather as an affirmation of American leadership on behalf of aspirations held by people in all nations," he said at the White House.
"To be honest, I do not feel that I deserve to be in the company of so many of the transformative figures who've been honored by this prize."
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Nobel Prize To Obama Defended