TORONTO - Ottawa-area MPP Lisa MacLeod is dropping out of the Ontario Progressive Conservative leadership race, but hasn't decided yet if she will leave provincial politics to seek a seat in Parliament.

In a statement released this morning, MacLeod said she will decide within weeks whether or not to try to win the House of Commons seat soon to be vacated by former foreign affairs minister John Baird.

Her decision to abandon a leadership bid comes on the day candidates must post $50,000 to stay in the race, which was one of the reasons rival Vic Fedeli cited when he withdrew Wednesday.

MacLeod and Fedeli both threw their support behind perceived frontrunner Christine Elliott, the deputy PC leader and widow of former finance minister Jim Flaherty.

The two other remaining candidates are London-area MPP Monte McNaughton and Barrie MP Patrick Brown, the only leadership hopeful who doesn't have a seat in the Ontario legislature.

Progressive Conservatives across the province will be eligible to vote in early May for the leader to replace Tim Hudak, who resigned after the Tories' fourth consecutive election loss last June.