A shark attack this morning at Fletcher Cove in Solana Beach has Coast Guard helicopters searching up and down the coast for the culprit. Police found the victim at 7:30 am and he died about an hour later. More details as the story develops...

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UPDATE on 04/25/2008 09:42 am:
The man killed in the attack was a 55 to 60 year old training for a triathalon. He was brought to Fletcher Cove and pronounced dead at the scene. Witnesses say he received massive injuries to both legs below the knees. A 17-mile stretch of beach is closed Friday as a search for the shark is performed.
 

UPDATE on 04/25/2008 10:16 am:

NBC Has Live coverage
 

UPDATE on 04/25/2008 10:29 am: 

The 66-year old swimmer apparently called out to his fellow swimmers, "Shark!" and was seen being lifted out of the water then submerged. After he came to the surface the other swimmers were able to bring him to shore. Sea World officials are examining the bite marks to determine the species of shark involved.
 

UPDATE on 04/25/2008 10:49 am: 

Beaches from Carlsbad, Oceanside, Encinitas, Del Mar and all the way out to Imperial Beach have been closed for up to 72 hours.
 

UPDATE on 04/25/2008 11:46 am: 

There are conflicting reports what, if any, beaches are closed and for how long but lifeguards did say the "bite radius" was 22 inches on the man's legs from the upper thighs to the lower shin. This information comes while sea animals are trying to escape the water

Chapman said that seals and sea lions have been beaching themselves in the area – he said a crew from Sea World was on its way to rescue one as he spoke. Such beachings are a possible sign of a large predator in the coastal waters.

"Those are signs that say this isn't the place to go," Chapman said. "We have one person fatally wounded and we have sea life exiting the water. It's better to say out of the water and give it time."