(CNN) -- A conservative billionaire businessman and a former center-left president will face off in a runoff election in Chile's presidential race, based on official early results released Sunday. 

With more than 98 percent of polling stations counted, billionaire businessman Sebastian Pinera led ex-president Eduardo Frei with 44 percent of the vote to Frei's 30 percent, Chile's interior ministry reported. 

"This is a victory for all the Chileans who want change," Pinera said Sunday night. 

Frei began campaigning for the second-round immediately, asking in a speech for the supporters of the two other candidates who had their presidential ambitions dashed to join his cause. 

Frei said if he is elected, women and young people will have an important role in his government. 

He explicitly asked for those who voted for Marco Enriquez-Ominami and Jorge Arrate, who were eliminated in Sunday's ballot, to vote for him in the runoff. 

In a concession speech, Enriquez-Ominami said that he would not endorse either candidate. 

The winner will follow the footsteps of a very popular president, Michelle Bachelet, who will be leaving office with high approval ratings for steering the country through the global economic downturn, and promoting progressive social reforms. Under Chile's constitutional term limits, a president cannot run for a second consecutive term. 

Bachelet endorsed Frei, a member of her same left-leaning coalition, but another leftist candidate who ran as an independent -- Enriquez-Ominami -- made an impressive run, pulling in 20 percent of the vote and splitting votes for the ruling party. 
whose footsteps will the winner follow?
does she have high approval ratings?
What country is the article about?
Who is the billionaire?
Are presidents allowed to run for a second term?
What percent does frei have?
Who are the other two candidates?
What will frei do if elected?
who will not endorse the candidates?
what did Michelle do?
and?
who did she endorse?
was Frei ever a president?
how much is pinera leading by?
what is Frei promoting?
who did he say will have a role?
how many stations have been counted?
what day are the results from?
who began campaigning immediately?
who is the leftist who ran as independant?
Michelle Bachelet
The winner will follow the footsteps of a very popular president, Michelle Bachelet
Yes
Michelle Bachelet, who will be leaving office with high approval ratings
Chile
A conservative billionaire businessman and a former center-left president will face off in a runoff election in Chile's presidential race
Sebastian Pinera
billionaire businessman Sebastian Pinera
No
Under Chile's constitutional term limits, a president cannot run for a second consecutive term.
30 percent
Sebastian Pinera led ex-president Eduardo Frei with 44 percent of the vote to Frei's 30 percent
Marco Enriquez-Ominami and Jorge Arrate
who voted for Marco Enriquez-Ominami and Jorge Arrate
women and young people will have an important role in his government.
Frei said if he is elected, women and young people will have an important role in his government. 
Enriquez-Ominami
Enriquez-Ominami said that he would not endorse either candidate.
steered the country through the global economic downturn
Michelle Bachelet, who will be leaving office with high approval ratings for steering the country through the global economic downturn
promoted progressive social reforms
Michelle Bachelet, who will be leaving office with high approval ratings for steering the country through the global economic downturn, and promoting progressive social reforms
Frei
Bachelet endorsed Frei
Yes
ex-president Eduardo Frei
14 percent
Sebastian Pinera led ex-president Eduardo Frei with 44 percent of the vote to Frei's 30 percent
change
This is a victory for all the Chileans who want change
women and young people
Frei said if he is elected, women and young people will have an important role in his government. 
more than 98 percent
With more than 98 percent of polling stations counted
Sunday.
official early results released Sunday.
Frei
Frei began campaigning for the second-round immediately
Frei
Frei, a member of her same left-leaning coalition, but another leftist candidate who ran as an independent