The codename for Ubuntu 9.10 will be Karmic Koala, according to the announcement from Mark Shuttleworth. There is still version 9.04 to be launched, but it’s still good to know what we can expect.
One of the goals of Ubuntu 9.10 is to make the boot process faster and will probably have a new splashscreen as well. Another is to improve the interface of Netbook Remix, which runs on netbooks like Dell Inspiron Mini.
The Ubuntu 9.10 server edition will also have support for the Amazon EC2 API and you will have the possibility to host cloud based apps in your own data center, by using the Eucalyptus project.

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