Marvelous Entertainment has announced development of a new Survival Horror title for PlayStation 3 and Xbox 360 by the name of Rainy Woods.
Due out some time in 2008, Rainy Woods takes place in an American mid-western town of the same name that has recently witnessed a series of gruesome murders in nearby woodland. FBI agent David Young Henning is soon dispatched to the town to investigate the brutal attacks and is joined in his quest by local folk Emily Wyatt, George and Thomas.
Suffering from multiple personality disorder, Henning frequently converses with his “friend” Jeter, who the player can also use to call upon in times of need. The game itself takes place over an eight-kilometre squared area of the city featuring real-time changes and weather effects. In addition to getting about by foot, Henning will also have access to a car, and is skilled in a variety of weapons that you will utilize over the course of the adventure, including swords and various firearms.
Rainy Woods is scheduled for release in Japan some time in 2008; a western release has yet to be announced.
Stay tuned for more information as it breaks.

gruesome murders and multiple personality disorders? sound cool to me
Might be worth a peek... I quite like survival horror.
Sounds interesting and I'll be keeping an eye on this.
I love this plot even more than Dead Space's - now this I'll keep an eye on.
The PS3 really needs some games in this genre. I hope its good.
psn id: gingo.... Silent Hill / Resident Evil / Manhunt / CSI - sounds like a good combination to me
sounds cool
meh
Sounds like it could be interesting
*waits for the MS exclusive announcement*