In a recent chat with Moviehole.net, actor Oded Fehr briefly talked about the status of The Mummy 3...

"I'm not involved [in "The Mummy 3"]. The person that wrote it, created it, tells me they're doing a third one. They were writing it [when I spoke to him], so I don't know where it is now. I believe it's only going to involve Brendan Fraser and Rachel Weisz's characters, of the old movies, and everyone else [in it] is going to be new."