This from Firstshowing.net:
"After talking about the possibility of releasing an extended version, Leterrier revealed that: "On top of that, I wrote two other movies… It was three movies. Warners came to me and said 'we'll greenlight your movie if you promise us [two more.]'" He continues, "You can tell that that story the story doesn't end at the Clash of the Titans… And I said 'thanks a lot' because I love doing that. And I had to write two stories. So Clash of the Titans is, and especially 'Titans' is, actually a bigger movie. So 'Titans' are coming." That extended story is exactly what Leterrier likes in his movie, too. "I actually love wanting more out of a movie."
Nothing wrong with wanting more out of a movie. I say bring it. Off course the studio is waiting to release any official word until 'Clash of the Titans' hits theaters April 2, 2010. They obviously have to wait and see if the box office prediction of 77 million opening weekend holds true. I think it will and then all you doubters out there in CBM land will have your official confirmation. But for now, rest easy knowing there are two more Clash flicks waiting in the wings!