do "some action" once a minute

[Petr Jakes]

I would like to do "some action" once a minute. My code (below) works,
I just wonder if there is some more pythonic approach or some "trick"
how to do it differently.

minutes=time.localtime()[4]
while 1:
    min, sec = time.localtime()[4:6]
    if  sec==0 and minutes!=min: # first occur of sec==0 only!! polling
10x a second
        minutes=min
        print "Eureca"
    time.sleep(0.1)

Regards

Petr Jakes