Director Bryan Singer, who directed the first two X-Men movies, will also helm the upcoming X-Men movie prequel titled X-Men First Class movie:

X-Men First Class Bryan Singer

Bryan Singer will direct the movie X-Men First Class

“I’m prepping up to do a movie called Jack the Giant Killer at Warner Brothers, and I just yesterday signed a deal to do an X-Men First Class Origins picture, which is kind of cool.”

Director Bryan Singer

Plot:
“The film would focus on the early years of Xavier’s School for Gifted Youngsters (later named the Xavier Institute) to teach mutants to explore and control their powers.”

Director Bryan Singer is fine with me. Just hope that they won’t focus the movie First Class on Cyclops: he’s just Charles Xavier’s mutant pet, not a really interesting character!
:)