A Rockstar spokesperson has told Eurogamer that the "latest" Grand Theft Auto game for PS2 will not be out before the end of May. Even though retailers have been touting a late April release for some time, Rockstar themselves have never even given an exact release date, so it's not a big surprise.
The word at the moment is that "it's looking like it'll be released after Table Tennis". Table Tennis is Rockstar's first foray on the Xbox 360 and "next" generation so they probably don't want any competition (especially between their own games). Grand Theft Auto Liberty City Stories was originally released on the PSP and is currently the best selling title on the handheld. However, the PS2 version has been kept under tight wraps and the only thing that is remotely known is is that it will likely retail at a reduced price. So there is still no word as to whether it will be a direct port or whether anything new has been added (or taken out - Ed).
If any more new information or credible release date becomes available to us, we'll be sure to let you know.