Summit Entertainment, a Lionsgate company, has cast Oscar winner Catherine Zeta-Jones and Byung-hun Lee in Red 2, the sequel to the action-comedy hit Red. The sequel also reunites Bruce Willis, John Malkovich, Mary-Louise Parker, and Oscar winner Helen Mirren. Lionsgate International will sell the film at the upcoming Cannes film market.

The project is being directed by Dean Parisot from a screenplay by Erich Hoeber and Jon Hoeber, who wrote the script for the studios' first installment of the Golden Globe nominated film. Lorenzo di Bonaventura and Mark Vahradian will produce the film via their DiBonaventura Pictures banner.

Red 2 brings back the team of retired CIA operatives as they use their old-school style to take on a new set of enemies all across Europe. The film is scheduled to be released on August 2, 2013.

Erik Feig, President, Lionsgate Motion Picture Group, Production, stated "We had so much fun making Red and seeing that amazing cast assembled together - and so did consumers: over $200m worldwide and the number one home entertainment rental of last year. We can't wait to bring them back together, give them some new friends, and show they 'still got it.'"

Erik Feig will oversee the project for the studio along with Summit Entertainment's Senior Vice President of Production, Geoff Shaevitz.