Feb 04, 2010 08:10 PM EST

Fast and Furious 5 Announced

According to Variety, there will be a fifth installment of the "Fast and Furious" franchise. The latest film, which is being referred to as "Fast Five", will once again start Vin Diesel and Paul Walker. Also returning are director Justin Lin and producer Neal Moritz.

Chris Morgan will be penning the script, which will feature Diesel and Walker's characters as hunted fugitives.

the film is set to be released in 2011.

Source: Variety