VIDEO : `THE MATRIX' HOLDS THE FUTURE.

Byline: Rob Lowman Entertainment Editor

``What is the Matrix?'' was the advertising hook when the movie was in theaters. Well, now we know, and it isn't just a hit movie starring Keanu Reeves.

No, it's really a fantastic new DVD, which hits stores Tuesday. If critics quibbled over ``The Matrix's'' value as a sci-fi movie, none of them denied the fact that the special effects in the film are groundbreaking and jaw dropping.

Now, with the new DVD, you can see how many of the film's effects and action sequences were shot. For anyone who wants a glimpse into the future of filmmaking, this DVD is a must - if you don't have a DVD player, it's almost worth buying one.

``The Matrix,'' written and directed by Larry and Andy Wachowski, was shot in Australia for a fairly modest amount compared to most overbloated special-effects-laden films. The Wachowskis, as they tell you in one of the DVD's featurettes, were originally asked to come up with a concept for a comic book but were intrigued with the idea of combining that and Japanese animation (anime) to create a live-action film. Throw in a cyber-punk attitude and some high-flying Hong Kong martial arts, and it was clear that the Wachowskis had to get innovative in order to see their vision through and not be sunk by a ``Titanic''-size budget. Thanks to advances in computers, they succeeded fabulously.

There are a number of ways to watch ``The Matrix'' on DVD, but one of the most interesting is to ``Follow the White Rabbit.'' In the movie, Reeves' character (Neo) is given that line as a clue. On the DVD, a white rabbit flashes to alert you that, with the click of a button, you can jump to a featurette that shows how the effect or action sequence you're watching was done. There are nine altogether, including one that shows how Reeves and co-star Lawrence Fishburne, who plays Morpheus, trained and rehearsed for one of those martial-arts fight sequences that required the use of wires so the actors could make those fantastic jumps and spins.

As actress Carrie-Anne Moss, who plays Trinity, explains in another commentary, the Wachowskis insisted that all the actors do their own stunts and she trained for six months to get ready. In that feature, she is joined by the film's editor, Zach Staenberg, and visual-effects supervisor John Gaeta, who tells Moss at one point how they used computer-generation to make her legs look more real in a scene.

If you saw the film, you may have wondered how those bullets flashed by Reeves at various speeds. This is explained in a segment called ``What Is Bullet Time?'' The shorthand is a lot of cameras, green screen and computers, but suffice it to say the explanation, to quote Mr. Spock, is fascinating.

The DVD contains numerous features, including other segments on effects, an isolated music score with commentary by composer Don Davis, behind-the-scenes material such as production notes, the theatrical trailers and HBO's documentary ``First Look: Making the Matrix.''

If that isn't enough, and if you have a computer with DVD-ROM capabilities, you can read the screenplay and follow the film's progress by viewing each scene's storyboard, stills and final cut. You can also link online to a number of ``Matrix''-related sites.

Oh yeah, if you just want to watch the film, the video also comes out on Tuesday, but it's priced for rental ($109.99). The DVD is selling for $24.90, and some Web sites are advertising it for $14.99.

At one point, Morpheus asks Neo, ``What is reality?'' The answer is ``electrical signal interpreted by the brain,'' implying that reality can be altered. The Wachowskis have already altered film reality, and you'll be seeing the effects for years to come.

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PHOTO ``The Matrix'' on DVD contains a fascinating segment about the bullet scene with Keanu Reeves.