Had been hearing about it for quite a while but until now it only seemed like rumors. Just found out they are almost done shooting it and are going to release it in April 2002. The story departs from the game (no surprise there) in that a virus breaks out in an Umbrella facility and a supercomputer goes haywire and kills all the staff only to have them revived by the virus. Also, instead of having Umbrella as this evil bioengineering corporation, the t-virus in this case is supposed to have been originally designed to combat aging and nerve diseases but was released into the facility by a saboteaur before it could be perfected.
It has Milla Jovovich and Michelle Rodriguez as the main characters but although they belong to the S.T.A.R.S. unit none of them are characters from the game. They are called Alice (how dull can you get?) and Rain repectively. I think fans of the game may be disappointed but other people may or may not like it. Just from the screen shots and trailers I've seen looks like they're counting on sex-starved video game geeks ogling at Milla in her skimpy dress(what else) kicking zombie a**!.