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Former Sen. Carol Moseley-Braun of Illinois held a series of meetings Monday with Democratic leaders and political financiers as she studied the prospect of launching a presidential campaign.

Moseley-Braun, who is being urged by some activists to join the field of potential Democratic candidates, met privately for about 40 minutes with Terry McAuliffe, the national party chairman. She is expected to decide in the next month whether she will return to political life four years after losing her seat as the nation’s first female African-American senator.

Through an adviser, Moseley-Braun declined to discuss her meetings. A Democratic Party spokesman said Moseley-Braun discussed a range of issues with McAuliffe as well as “the mechanics of a campaign.”

One year before Democrats begin selecting a nominee to challenge President Bush, six prospective candidates have launched formal exploratory committees. Several others are considering entering the race, including Moseley-Braun, and her potential candidacy has fueled interest among women’s political groups and others.

“She has a million-dollar smile,” said Susan Medalie, executive director of the non-partisan Women’s Campaign Fund, who met with Moseley-Braun. “I surely know that any former senator who is thinking of running is welcome.”

Moseley-Braun’s national political career began in 1992 when she emerged from a divisive three-way Democratic primary and won a seat in the Senate. Six years later, after a series of controversies and ethics investigations, she lost to Sen. Peter Fitzgerald (R-Ill.) and was appointed to serve as the U.S. ambassador to New Zealand.

While several Illinois Democrats said the notion of a Moseley-Braun presidential candidacy seems far-fetched, some party leaders in Washington are encouraging her to run. A national campaign could energize black voters and provide competition to civil rights activist Al Sharpton, who also is seeking the Democratic nomination.

In a recent interview, Sharpton did not criticize Moseley-Braun, but he questioned the motives of the Democrats who are urging her to run.

He also questioned whether her support reaches beyond a small set of activists.

“Tell us who’s with you,” Sharpton said. “Who will go on record saying they will support her? That’s what I want to know.”

Democratic strategist Donna Brazile, who ran Al Gore’s campaign in 2000 and directs the party’s Voting Rights Institute, has said Moseley-Braun could energize women and black voters in ways other candidates cannot.

Moseley-Braun is expected to announce her plans before Feb. 20, when prospective candidates address activists in Washington at the winter meeting of the Democratic National Committee. She has asked party officials to tentatively reserve her a speaking slot.

Denver Mayor Wellington Webb, who was born in Chicago and is a friend of Moseley-Braun’s, said it would be a mistake for other candidates to discount her if she enters the race.

“When Bill Clinton first started, no one thought he would do well. No one gave Jimmy Carter a chance. People wrote Harry Truman off,” Webb said. “You don’t deprive anyone the opportunity to run. The more who want to run, the more energy it creates for our party.”