Bandai's mobile phone website m-pub.channel.or.jp is hosting a graphic that reads as follows:

New Code Geass Project Launch Green-Lit!
Wait for more info in 2010!!

The image adds that this project represents a "rebirth" and that Geass will take a new step starting today. The message is signed with the name, "ZERO."

In the January 2009 issue of Gakken's Animedia magazine, the Sunrise anime studio indicated the possibility of more plans for its Code Geass science-fiction franchise. Sunrise created and animated the Code Geass: Lelouch of the Rebellion television anime series and its R2 sequel. Sunrise did not indicate the format that any hypothetical future plans might take. The Adult Swim television programming block ran Bandai Entertainment's adaptation of the R2 sequel in North America.

Source: Anime News network

For anyone who didn't know about Code Geass, here is the plot:
The series is set after Japan's conquest by the Holy Britannian Empire on August 10, 2010, a.t.b. with their powerful new robot weapons, the Knightmare Frames, stripping Japan and its citizens of all rights and freedoms and renaming the country Area 11. The titular Lelouch is a Britannian prince who was disowned by his father, Emperor Charles zi Britannia, after his mother was murdered, and has vowed to destroy his father, the Emperor, and Britannia. He gains an ability through the mysterious power of the Geass, becoming the leader of the resistance movement to fulfill his two wishes: to seek revenge for his mother and to construct a world in which his beloved sister Nunnally can live happily.

I'm very happy hearing the good news. I'm a big fan of Code Geass and I have already seen both seasons and the sudden twists and turns of the story makes it a must watch anime for any fan. But I'm wondering what will be the story of this new project since (BEWARE! SPOILER AHEAD!) Zero is already dead. Would they make Suzaku Kururugi the new lead character as Zero? Or will they make a sudden turn of Nunally's character and making her take revenge on Suzaku who killed Lelouch?

Watch out for more news about this anime coming early next year.