Update on February 17th, 2008
Source: Mi6.co,uk

Responding to rumours first published by AICN earlier in the week that claimed Al Pacino would be filming a small role as the terrorist network's chief in the 22nd James Bond film "Quantum of Solace", the studio had denied the story.

"Contrary to published reports, Al Pacino will not be appearing in the next James Bond movie, “Quantum of Solace.” Reports surfaced suggesting the screen legend would step into the role as the head of an international terrorist organization. However, a rep for the studio tells Access Hollywood the reports of Pacino joining the cast are not true."

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Source: NZHearld

Al Pacino is set to play James Bond's nemesis in the new 007 spy movie 'Quantum of Solace'.
The legendary actor is believed to be making an appearance as the head of the terrorist group in the latest instalment of the British spy franchise. A source revealed: "Al Pacino has been approached about playing a Bond bad guy. It will be a brief but extremely important role. Movie bosses are hoping he will be the best Bond villain yet."

Pacino is expected to film his scenes at London's Pinewood Studios in April or May.
In the movie, starring Daniel Craig as the British super spy, Bond is hunting down the terrorists responsible for the death of his love Vesper Lynd. Pacino, 67, will follow in the footsteps of stars including Christopher Walken, Christopher Lee and Robert Carlyle who have all portrayed a Bond nemesis. Earlier this month, it was claimed Amy Winehouse was set to write and perform the theme tune for the hotly-anticipated film.The movie - based on the books of author Ian Fleming - is to be released on November 7, 2008.

His role is to be the boss of the terrorist organisation behind Casino Royale. It is possible that he will mimick Blofeld from the '60's and early '70's, and that his terrorist organisation will mimick SPECTRE. Which organisation/leader will be better?