This is so cool. One of the scariest movies I've ever seen is coming back, with a vengeance.
The Ring sequel, as I've heard from the net, won't be based anymore on the Japanese sequels: instead, it will be a totally different storyline. It will try to answer a lot of questions that the original obviously didn't elaborate on, like on the issue of the origin of the video tape, and Samara herself.
BTW, the original actress who played Samara, won't be in the 2nd movie.
Naomi Watts and David Dorfman will still be on the sequel, however.
I searched through google and only got more confused and confused of the actual release date, and i think this is it. ETA: Mar. 2005
A whole lot more info! minor SPOILER WARNING.....
http://www.imdb.com/title/tt0377109/plotsummary
http://www.joblo.com/upcomingmovies/movies.php?id=118
www.thering2-themovie.com
Google for more info if you wish.