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Just when you think you are out they pull you back in.  The FFXI Online level cap will be raised to level 99.  This is the second time a level cap increase has been implemented.  The level increase was announced during a special talk  session at VanaFest 2010 in Tokyo.

SE also announced plans to release three new expansions named, Visions of Abyssea, Heroes of Abyssea, and Scars of Abyssea later this year.

Below is an excerpt from the VanaFest 2010 page regarding the level cap and new expansions.

Level Cap Increase – http://www.playonline.com/ff11us/event/vanafes2010/

History is about to be made with the increase of the level cap in the March version update and beyond! The increase will take place in stages until the new maximum, level 99, has been reached.

Up until now, character strength has been limited to level 75, and additions to the game such as monsters, strategic content, and equipment had been designed to correspond to this.

However, with the game having reached a certain level of maturity and the bulk of existing notorious monsters having already fallen prey to tenacious bands of adventurers, the development team has deemed that the time is now ripe for the bar to be raised.
Level Cap Considerations
We are aware that players will inevitably feel concern over how in-game elements such as support jobs, experience camps, and merit points will be affected by this change. We would like to take a moment to explain the measures that are in the pipes to preserve game balance.

Support job abilities that are not expected to steal the limelight from main jobs as a result of the level cap increase will be allowed to come into play. Furthermore, there are plans to tweak certain job abilities, job traits, and magic spells on an ongoing basis in order to further accentuate the uniqueness of each job when used in a main role, as well as its versatility when playing a supporting role.

New camping grounds are scheduled to be added to cater to the anticipated rise in demand for experience parties. Furthermore, the redistribution of monsters in existing areas is also under consideration.

An increase in maximum upgrades is being considered for existing merit point skills and attributes. Preparations are also under way for the introduction of a new type of merit point for players who have reached the new level 99 summit.

New Expansions

Abyssea is a parallel world existing beside Vana’diel. A land fraught with perils, Abyssea is home to savage hordes of heretofore unseen creatures. Ferocious, towering NMs, new-look HNMs—even the garden varieties will confound would-be challengers with their unfamiliar and formidable powers. These and a whole host more await hapless adventurers with open arms and voracious maws.

In Abyssea, concerns such as the over-population of battle areas and the need for large time investments will be a thing of the past. The development team is hard at work creating a world where parties can engage in rewarding battles with powerful foes and collect prized equipment with the least of fuss. The expansive realm of Abyssea will comprise several new areas which will be introduced over the course of three add-ons.