Not really much of a surprise, but a Peugeot design contest reveals that a fourth installement in the PGR series is currently in development over at Bizarre Creations. While the contest page is in French it does mention that the winner will have his concept car displayed at the Frankfurt 2007 car show, as well as "featured in the Xbox 360 exclusive Project Gotham Racing 4." An official announcement is expected to be made at X06.
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'Project Gotham Racing 4' (X360) Development Revealed
by Rainier on Sept. 9, 2006 @ 5:19 a.m. PDT
Project Gotham Racing 4 promises to continue the Project Gotham Racing pedigree of innovation by introducing exciting new experiences to racing fans worldwide.