UPDATE: SOUTH Australian Premier Mike Rann says it would be presumptuous to claim victory in a state election he describes as a kick in the pants for his Labor Party.
Mr Rann is positioned to retain power for a third term but said the result was too close to call.
Labor suffered about an eight per cent swing against it in Saturday's poll and appears set to form government with a reduced majority.
The ALP has lost at least three seats but is forecast to hold 25 seats to the Liberals' 18 in the 47-seat lower house.
