The company has recruited 35 former Core employees who have already begun work on two prototypes. The studio has begun developing for current generation platforms, PS2 and Xbox, whilst simultaneously preparing for the next generation systems (PS3 & Xbox2).

Adrian Smith, Development Director enthused, 'It's very exciting to be standing on our own two feet again and we're fortunate to be in a position that allows us to develop our prototypes fully whilst exploring the best route or partnership for publishing.'

Heath-Smith and Smith, together with Toby Gard, were the creators of Lara Croft and the Tomb Raider games. Lara Croft is the undisputed, most recognised video game character in the world, responsible for selling in excess of 32 Million units across Playstation and PC.

About Lara Croft and the Tomb Raider series of games:

All 6 games released between October 1996 and July 2003 achieved No 1 slots, either on an individual or multi-format basis. Tomb Raider II and the original Tomb Raider respectively were the UK's second and third biggest selling games of all time.

The game and its cyber star are global phenomena – critically acclaimed by the media, the titles received numerous accolades, including the first two games being granted Millennium product status by the Design Council in November 1998 and the award of a BAFTA for Tomb Raider's outstanding contribution to the interactive entertainment industry following a year later.

Variously described as a "virtual idol", "the first true supermodel of the cyber age" and "Britain's ambassador for scientific excellence", Lara Croft has now achieved unparalleled status as an icon for both the industry and the digital age. Her image has graced magazine covers around the world, including The Face and The Sunday Times; Lara has featured in prestigious publications such as Time, Newsweek and Rolling Stone, as well as appearing regularly in national press. She was invited to join U2's world-wide PopMart tour in 1997, became the face of Lucozade's global marketing campaign in 1999, with Lucozade Energy being temporarily renamed "Larazade"in a promotional tribute to the heroine in April 2001. She has also featured in advertising campaigns for such prestigious companies as SEAT, Nokia and Waterman amongst many others. Paramount Pictures licensed the film rights to Tomb Raider in 1998 and 2001 and 2003 have seen the release of two live action Lara Croft: Tomb Raider movies, starring Oscar Winner Angelina Jolie in the role of Lara Croft.

Jeremy Heath-Smith was the Executive Producer on both films.