The Japanese DVD release of the first film had English and Japanese subtitles, (but the "director's cut" did not) so it could go either way on this. Man, I hope they include those English subs. If they do, I'm all over this. I've been wanting to see Daywatch for some time, but haven't got the chance.
Just checked the links provided, and SWEET,
these will have English subs. It appears there will also be an English (and Japanese) dub, as well as the original Russian, at least if the Amazon listing is correct.
Nice.