Female Premier after Rees ousted

UPDATE: KRISTINA Keneally has been elected 47-21 to become NSW's first female premier after the ALP caucus dumped Nathan Rees.

"I'd like to thank my colleagues for this opportunity to lead and serve the people of NSW," Ms Keneally said as she emerged victorious from the ALP party room.

Ms Keneally becomes the fourth premier of NSW in as many years after Mr Rees last year replaced Morris Iemma who in turn replaced Bob Carr.

A no-confidence motion was moved against Mr Rees' leadership at a special Labor caucus meeting tonight, with MPs voting 43-25 in favour of the motion.

After the no-confidence motion was carried a ballot for the leadership was taken with Ms Keneally defeating Mr Rees 47-21, after she secured the support of the party's dominant right faction.