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Kotaku
Ubisoft has announced that they are working on Heroes of Might & Magic V for the PC. The game should be available in early 2006.
Ubisoft is pleased to bring back this exceptional series not just for Heroes fans, but to a larger audience that can appreciate the singular combination of a fantasy environment and strategic gameplay. Online or offline, the breathtaking world to explore, the tactical decisions to make, and the opportunity to build a true Hero will entice players to become a part of the Might & Magic universe.
Heroes of Might & Magic V [Official Site]
