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Effective July 1, the new sets in Extended will be: Time Spiral, Planar Chaos,Future Sight, Tenth Edition, Lorwyn, Morningtide, Shadowmoor, Eventide, Shards of Alara, Conflux,Alara Reborn, Magic 2010, Zendikar, Worldwake, and Rise of the Eldrazi.
And in addition, the banning of two very powerful cards: Hypergenesis and Sword of the Meek.
Some Legacy cards are getting unbanned, and Mystical Tutor is getting banned.
Brian David-Marshall has more to say on the Extended changes in this article.