Several diplomats have said that the Americans are asking Arab nations to drop demands for a right of return for Palestinian refugees and agree to either resettle them in the host countries or in the Palestinian territories.
Mubarak ruled out amending the initiative.
"Don't keep asking for an amendment. It will not be amended so long as you ask for it. All the countries are not approving the amendment," he said.
And President Mubarak also said:
Progress in peace negotiations must come before Arab recognition of Israel, Egyptian President Hosni Mubarak said in an interview with Israel TV broadcast late Tuesday.
Mubarak said in the interview that Egypt's views on the threat Iran poses are different from those of Israel.
He also said Egypt favors a Middle East without nuclear weapons, broadly hinting that he meant eliminating Israel's stockpile of nuclear bombs. Israel does not confirm or deny possessing nuclear weapons.