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The New York Post is reporting that George Lucas will officially begin pre-production for Episode 2 on Monday, 17 May 1999.
Actual shooting begins about June 2000 for a release sometime in 2002.
The story will include Obi-Wan Kenobi as a Jedi Master, Senator Palpatine going full-on evil, and a romance between Queen Amidala and a teen-aged Anakin Skywalker, who will turn to the Dark Side because of "galactic turmoil."
Episode 3 is set to begin production in June 2003 for a release in May, 2005.
------------------ "I was not elected to watch my people suffer and die, while you discuss this invasion in a committee" Queen Amidala - Star Wars: Episode 1, The Phantom Menace
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I think the end of Episode 3 is still a good ten years before A New Hope, isn't it?
------------------ Garak: "I do apologize. You must be incensed. In fact, if I were in your shoes, I'd... grab a bottle of champagne and shoot me." (DS9: "Our Man Bashir")