UPDATE: Jay-Z Ready To Deliver New Album

After four successful albums and a number of memorable guest appearances, Brooklyn's finest, Jay-Z, is currently wrapping up his latest musical effort.

Though Jay's "Vol. 3... Life & Times Of S. Carter" hit stores less than a year ago, and the single "Hey Papi" still has some steam, the rapper said on Friday that he "just completed" work on his fifth studio album. The LP will be called "The Dynasty Rock La Familia 2000," and the rapper said during a visit to MTV's "Total Request Live" that fans can expect it to hit stores on October 31.

The first single will be "Give It To Me Baby," and Jay will reteam with director David Meyers ("Do It Again") to shoot a video for the track this week in Los Angeles. The day after that shoot takes place, J-Hova will join his protege Memphis Bleek to shoot a clip for Bleek's next single, "Is That Your Chic?," with Missy "Misdemeanor" Elliott and director Chris Robinson.

After Jay's album hits stores on October 31, Bleek will

release his sophomore album, "The Understanding," on November 21.

During his time on "TRL," Jay-Z also said that he is currently shooting a movie in Canada called "Paid In Full." As we previously reported, Jay-Z is producing the film, which profiles some of New York's real-life uptown gangsters (see "Jay-Z To Bring Gangsters To Big Screen").