LionsHead Studios officially announced Fable 3 as well as posted the new trailer today. Check it out here. Not much of a trailer. More of a teaser really, but at least something to look at. Peter Molyneux said that while working on Fable 2, they had already planned on working on 3, 4 and 5. So the only real surprise is how quickly this announcement is being made.

So whats this new Fable have in store for players? Well according to Molyneux you will play an up-and-coming ruler of Albion and spend part of the game working to get your crown, and the rest of the game maintaining it. So rather than just changing your characters appearance and how people respond to you, you now will have the power to change the world around you as a whole. This makes it not only a character builder but a world builder as well. A more metagame surrounding the normal workings of the Fable universe.

This seems like a very exciting prospect, and if done right could be one of the most intriguing games coming out. Hopefully we will hear more from Molyneux at GamesCom. Stay tuned to aggrogamer.com for more details as they are released.