March 29 (Reuters) - Following are key excerpts from the final declaration endorsed by Arab leaders at the end of a two-day summit in Riyadh on Thursday. The declaration endorses an Arab peace initiative launched in 2002 but makes no direct mention of key issues such as the fate of Palestinian refugees.

- (The summit) "affirms a just and comprehensive peace as a strategic option for the Arab nation and the Arab peace initiative that draws the right path for reaching a peaceful settlement to the Arab-Israeli conflict based on the principles and resolutions of international legitimacy and the land for peace formula."

- (The summit) "stresses the importance of freeing the region from weapons of mass destruction without double standards, warning against starting a dangerous and destructive nuclear arms race in the region and emphasising the right of all countries to peaceful nuclear power."

- (The summit) "decides to spread the culture of moderation, tolerance, dialogue and openness, to reject all forms of terrorism and extremism as well as all exclusionary, racist trends, campaigns of hatred and endeavours to question our humanistic values or defame our religious beliefs and holy places, and to warn against growing sectarianism for political purposes that aims to divide our nation and ignite destructive sedition and civil strife."

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