It is set in the same time frame as SEED Destiny, but doesn't really have anything to do with it. So if it is a continuation you are looking for, this isnt it.
There are making a movie right now to finish the main story line, which will be simply titled Gundam SEED: The Movie. It is supposedly set several years after Destiny.
http://en.wikipedia.org/wiki/Mobile_...EED:_The_Movie