A third movie in the Saw series will be released this Hallowe'en, it has been confirmed.

Production on the horror flick will begin immediately for the speedy release, which has been set for October 27 in the US.

Darren Lynn Bousman returns to direct, with Leigh Whannell and James Wan - screenwriters of the first two movies - also reprising their roles. Mark Burg and Oren Koules will produce.

"We have been discussing storylines that extend the Saw franchise to new limits and beyond," said Burg and Koules. "The most important element of any franchise is remaining true to the roots of its success.

"We believe that we are developing a script that is certain to please the Saw franchise's core fans while adding fresh, terrifying and unimaginable new twists to the Saw saga."

The second Saw film set records for Lionsgate on its US release last October and recently repeated the feat for its DVD release, with 4 million copies sold in the first week.