Current, former and future U.S. presidents pose for the media in the Oval Office of the White House. From left: George H.W. Bush, Barack Obama, George W. Bush, Bill Clinton and Jimmy Carter. (J. Scott Applewhite/Associated Press)

Hailing it as an "extraordinary gathering," Barack Obama met with President George W. Bush and all the living former U.S. presidents for a historic meeting at the White House on Wednesday.

"I just want to thank the president for hosting us," the president-elect said as he stood in the Oval Office beside Bush, his father, George Bush Sr., and former presidents Bill Clinton and Jimmy Carter.

"All the gentlemen here understand both the pressures and possibilities of this office," Obama told reporters. "For me to have the opportunity to get advice, good counsel and fellowship with these individuals is extraordinary, and I'm very grateful to all of them."

Bush, who hosted a lunch for leaders at the White House, said the one message they all shared was hope that he would succeed.

"Whether we're Democrat or Republican, we care deeply about this country and to the extent we can, we look forward to sharing our experiences with you," Bush said.

"All of us who have served in this office understand that the office itself transcends the individual. We wish you all the very best, and so does the country.

Obama and Bush held a private meeting before they were joined by the three former presidents.

Bush was hosting a rare lunch for the leaders at the White House.

"It's going to be an interesting lunch," Bush told an interviewer recently. When asked what the five men would talk about, Bush said: "I don't know. I'm sure [Obama's] going to ask us all questions, I would guess. If not, we'll just share war stories."

The last White House event to draw the former presidents was a November 2000 celebration in honor of the White House's 200th anniversary. But one of the former presidents, the late Ronald Reagan, who was afflicted with Alzheimer's, was unable to attend.

With files from the Associated Press