Konami has announced an all-new Metal Gear Solid title for PSP entitled Metal Gear Solid: Peace Walker at Sony's E3 press conference today.

Designed as a full sequel to Metal Gear Solid 3: Snake Eater, the PSP title offers a new game system and an original story.

Developed by Hideo Kojima, this latest PSP instalment picks up where Metal Gear Solid 3 left off. Players take control of Snake in a story set in 1974.

With Metal Gear Solid: Peace Walker, Kojima Productions has once again pushed the limits of the PSP system, creating a beautiful sequel to Metal Gear Solid 3,” said Martin Schneider, European Marketing Director for Konami Digital Entertainment. “Metal Gear Solid: Peace Walker lets players take the action and excitement of a console game to the PSP, and is a stunning addition to MGS Lore.”

Metal Gear Solid: Peace Walker is scheduled to launch in 2010 exclusively for the PSP.