Found July 24, 2008 on Saints Gab:
Saints General Manager Mickey Loomis announced Wednesday that Marquis Colston signed a 3-year extension.  He stated that the 3 year term was chosen to help prevent possible holdouts in the future.  Terms of the deal have not yet been disclosed, but should be shortly.  This should be a huge weight off of the shoulders of the Saints organization. It also assures that they get Colston in by the start of camp.  This should also allow Mickey Loomis ample time to finish talks with the Saints 1st round pick Sedrick Ellis.
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