UPDATE: Polanski won't be released until Monday at the earliest (BBC, REU)

By Nancy Tartaglione and R. Kinsey Lowe

UPDATE: Officials at the Swiss justice ministry say Roman Polanski will not be released from prison until Monday at the earliest as arrangements are made for his house arrest.

PREVIOUSLY: Roman Polanski has been granted release from jail by a Swiss court on a bail of $4.49 million, the Swiss SDA news agency reported Wednesday, according to Reuters.

It wasn't clear how quickly Polanksi would be released, but the director was ordered to surrender his identity papers and will be under house arrest with electronic monitoring pending the outcome of his extradition case - which could take months or years depending on whether he continued to fight extradition or return to the U.S. voluntarily.

The bail amount represented a "substantial portion" of Polanski's fortune, the court said.

Although it was considered unlikely that Polanski would be released right away pending a decision by the Justice Ministry on whether to appeal the court's decision, a representative of the Ministry said an appeal was unlikely.

If the Ministry decides to go along with the decision, it will still take a few days to release Polanski from prison and into house arrest at his holiday home in the Swiss resort of Gstaad.