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Here are the impressions of eyewitnesses from Igromania, who attended KRI (I am quoting the article from Igromania in full):
Perhaps one of the most, if not the most, notable events at KRI 2005 was the closed presentation of Heroes of Might and Magic 5, which is being actively developed in the mysterious laboratories of Nival Interactive. Literally everyone was talking about this significant event. For example, throughout the exhibition, a pair of formidable knights in armor, with menacing swords drawn, were constantly walking around. It was quite impressive, you know.
Journalists from virtually all publications were gathered, and under strict secrecy (with a preliminary solemn promise not to tell anyone anything), we were shown the gameplay of the continuation of the legendary series. Unfortunately, we cannot reveal all the details of what we saw, because we are faithfully keeping our vow of silence. Let's just say that Heroes of Might and Magic 5 is something truly amazing.
The essence of the Heroes of Might and Magic series has not undergone any major changes. We still control a hero, roam vast maps, capture resources, of course, build cities, and gather powerful armies in order to crush enemy hordes. According to the developers, we can expect not only a powerful strategic system but also many unique races, dozens of heroes and fantastic creatures, and a wealth of new spells and schools of magic.
It is worth mentioning the graphics separately. It is simply magnificent here, you understand. And this is already visible at an early stage of development. Gorgeous special effects, stunning animation, and lovingly drawn units create the feeling of a real fantasy world. In addition, Heroes of Might and Magic 5 will be in full 3D, thanks to which we will not only be able to choose a convenient camera angle ourselves but also enjoy first-class unit models. And the cities here are just amazing. Believe me, such beauty has not been seen in any game of the genre before.
I will say this personally: the first impression of Heroes of Might and Magic 5 is more than positive. Even now, there is complete confidence that the wizards at Nival will delight us with the "Heroes" we have been waiting for so long by 2006.