NARUTO OST II's realease date is 2004/03/10.
No Cover Art yet.
But before the OST 2's release, they'll have a "Oh! NARUTO Nippon - 1" Radio D. (It's more like a Drama/Talkshow Parody type of CD, so don't expect to hear lots of music/songs in it. This CD would be quite funny to listen to, if you understand Jap.) Release Date: 2004/01/21
Here the Cover for it.
http://www.sonymusic.co.jp/Animation/naruto/cd.html