I am watching Telesur live on the Internet.  Several trucks filled with armed military personnel have arrived to the hospital were President Correa is being held.  The population is screaming slogans in support of the military.  A firefight has broken out and automatic fire is being heard.
I will try to update ASAP

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The hospital building seems to be surrounded and the crowd is joining the assault against the police for which is using tear gas and automatic fire.
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Military units have penetrated into the lower floor of the hospital where the President is being held.

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Live signal from Telesur here: http://www.telesurtv.net/noticias/canal/senalenvivo.php
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Telesur confirms that there are casualties.
Military reinforcements are streaming in.
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A SUV has entered the parking of the hospital and left 5mins later.  In wonder if that was an armored vehicle extracting Correa or some other official?
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THE PRESIDENT IS CONFIRMED ALIVE.  Reports have him in good health, inside the hospital, waiting for the military to take full control of the combat zone.
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At least 4 more SUV has entered the hospital’s parking
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These vehicles are extracting the President.  Information CONFIRMED!

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The President has been extracted!!!