Justin Timberlake fans: prepare to have your hopes dashed.  The singer is not working on a new album, despite reports.

Songwriter and producer Jim Beanz, who works closely with Timbaland and who's produced or contributed songs to everyone from Whitney Houston to Britney Spearsto Rihanna, told the British website Digital Spy that he planned on working on new music with both Tim and JT very soon.

Beanz said, "When I get back to the States I'm going to be helping out on Shock Value 3with Timbaland and the Justin Timberlake project."  He added, "It's still in the early stages, but they have a lot of tracks. While I've been over here in the UK they've been working, so by the time I get back they'll have a whole load of ideas and I'm going to have to catch up!"

But unfortunately, there is no "Justin Timberlake project."  A rep for the singer-turned-actor tells Entertainment Weekly that, while Justin does plan to work with Timbaland on Shock Value 3, "that's it." In other words, he's not making his own solo record.

Had Justin really been making a new album, it would have been his first since 2006'sFutureSex/LoveSounds.