The Lord Of The Rings trilogy will be released tomorrow on Blu-Ray, though I should mention that these are the theatrical releases and not the Special Extended Editions, whose Blu-ray release date is unknown at the moment.

Amazon.com states that the extended trilogy will be made available in 2011 or 2012, though I suspect they will release it during this year’s Christmas holiday period.

The first installment of The Hobbit films is scheduled for release in 2011 according to IMDB.com and they could easily use the release of the extended version on Blu-Ray to build up a summer release of the first Hobbit film.
But of course this is speculation on my part and the press release scheduled for release tomorrow might shine some better light on the subject.

Having not upgraded to Blu-Ray yet i’m not in a rush to get the Blu-Ray release of the extended versions. And I am quite content in watching the special edition DVDs upconverted until it is released.