WASHINGTON (AP) - Republican Sen. John McCain said yesterday he is taking the initial steps for a White House bid in 2008, setting up a committee that allows a potential candidate to raise money and travel the country to gauge support.

Democratic Sen. Joe Biden reaffirmed his intention to seek his party's nomination, though an announcement about establishing an exploratory committee probably will not come until early next year.

The anticipated wide-open campaign - for the first time since the 1928 race, the field will not include a sitting president or vice president - lost one possible participant when Sen. Russ Feingold (D-Wis.), decided against a long-shot run.

McCain (R-Ariz.) said he is moving toward a 2008 bid by "doing things organizationally and legally" but will not make a final decision until early next year.

McCain, considered the front-runner for his party's presidential nomination, said he could create an exploratory committee as early as this week.

"Are we doing the things organizationally and legally that need to be done? Yes," he said. "There are certain things legally you have to comply with in order to continue to raise money and set up an organization."

"The important thing is we will not make a decision until I sit down with my family, but we will be prepared," McCain said.

GOP officials last week said McCain would set up an exploratory committee and has opened a bank account for the committee.

Yesterday, McCain characterized the moves as preliminary until he decides over the holidays about a possible bid. He unsuccessfully sought his party's nomination for president in 2000.

If McCain were to run, he would turn 72 on Aug. 29, 2008, at the height of the campaign. Only Ronald Reagan was older - 73 at the start of his second term. McCain's health also could be an issue because he has had several cancerous lesions removed from his skin.