The compilation is expected to be released to coincide with a world tour...

REM are set to release a Greatest Hits album in 2003, NME.COM has learned.

NME.COM understands that the record will be a compilation of their biggest hits to date, and be backed by a selection of new songs, one of which will be a new single.

A release date is currently unconfirmed, although insiders have said the record could coincide with a tour next year. REM are strongly rumoured to be headlining the 2003 Glastonbury Festival.

The group are also in the studio working on songs for a new album. It is possible that both records could be released next year.