Bond is back!

Amidst fears that the 20th James Bond installment would be his last, Pierce Brosnan has agreed to extend his contract to complete one more film as 007.

“I will do another one. I am very pleased to be sitting here today,” he said at a press conference at Pinewood Studios on Friday. “Time has gone by quickly. It seems like only yesterday I was sitting here for GoldenEye.”

But while the 48-year-old actor still wants to carry on for one more adventure, he fears he may be getting to old.

“It takes stamina to play this role. I would like to get off stage with grace.”

The cast and crew of the 20th James Bond installment assembled at Pinewood Studios, the film’s production company in Buckinghamshire, to begin preparations for latest film.

Brosnan is set to continue his record-breaking run as secret agent 007. Halle Berry and Rosamund Pike will take on the coveted roles of Bond girls.

The film, currently untitled, will also star Judi Dench as M, Samantha Bond as Miss Moneypenny and John Cleese in the role of Q, following the death of Desmond Llewelyn.

Toby Stephens joins the ranks of nefarious bad guys.

Bond’s infamous Astin Martin will reportedly be revamped in the form of the new V12 Vanquish.

The story will begin in Korea with a spectacular high-speed hovercraft chase and continue by way of Hong Kong, Cuba and London. Bond will reportedly have to unmask a traitor in order to prevent a war of catastrophic consequences.

Pinewood Studios said production on the latest Bond epic would begin Monday.

“We’re thrilled to start filming on what promises to be one of the greatest Bond films ever,” producer Barbara Broccoli said in a statement. “We’re extremely proud to be continuing the Bond tradition.”

The film is slated for a November 22, 2002, release.