“Keanu Reeves has been signed to appear in two sequels to Matrix, The (1999), to be filmed in Australia, the Sydney Sunday Telegraph reported. In a break with ordinary production and marketing practices, the two films are expected to be shot back-to-back with a cliff-hanger in the first film leading to a finale in the second, which will be released “within months” of the first one. The two films, currently titled Matrix 2 and Matrix 3, will be produced by Warner Bros. and Australia’s Village Roadshow at the new Fox Studios in Sydney, the newspaper said.” -IMDB
Similar report from www.cinescape.com: Report: Keanu Back For ‘Matrix’ 2 & 3 Keanu Reeves has reportedly reached a deal that will see him jack into The Matrix twice more. Australia’s Sunday Telegraph was told by “a prominent industry insider” that the pact amounts to “a bigger deal than James Cameron got for Titanic.” Additionally, the paper reports that the Wachowski brothers negotiated for a cut of the film’s total box office, and that the sequels will be filmed back-to-back in Sydney once again with sights set on releasing the pictures within months of each other (a la Lord of the Rings). There’s little word on possible plot points save that the second movie will likely lead into the third with a cliffhanger. (A thousand thanks to ‘Fabio2’ for passing a scan along).