The multidisciplinary observations of the two large South Iceland seismic zone earthquakes in June 2000 will be of enormous significance for understanding earth processes leading to and involved in large earthquakes. Research work has started to a minor extent within the PRENLAB-2 project. The earthquakes occurred just before the end of the project. But such earthquakes were the main target of the project and thus a PRENLAB-3 would be a natural continuation of PRENLAB-2 applying the new understanding and enormous amount of data.