IAN Paisley and Gerry Adams will hold their first ever face-to-face talks today in a last-ditch bid to rescue devolution in Northern Ireland.

The Democratic Unionist Party leader and the Sinn Fein president will meet in a committee room at Stormont for their first direct negotiation, party sources confirmed.

With the British and Irish Governments resigned to the fact that a power-sharing executive will not be in place by today's deadline, hopes that a deal to achieve power-sharing can be cobbled together before the Assembly crashes at midnight tonight will rest on both leaders shoulders.

The meeting will take place in Stormont's Parliament Buildings around mid-morning.