Ubi Soft sent out a press release announcing Far Cry, a first person shooter formerly known as X-Isle. The game is due out late next year and has "an emphasis on tactics and action with a spectacular use of graphical and environmental details". Here's a little more info on the title

In Far Cry(tm), the player finds himself abducted and taken to a group of beautiful islands in Polynesia where he finds sun, sea, sand and... sub-machineguns! Our unlikely hero soon finds himself fighting for survival against highly trained and heavily armed opponents, whilst becoming ever more embroiled in a deeper conspiracy.
"Considering the unique advanced technology, the amazing graphics and atmosphere of this new jewel, we have great expectations for this soon-to-be massive hit!" - Alain Corre, Managing Director for Europe, Asia Pacific and South America, Ubi Soft Entertainment. "It is already looking superb, and we have something very special in Far Cry to please most gamers in 2003".

We have four screenshots from the game