Square Enix announced today that one of their classic titles, Final Fantasy V, is currently under development and will be making its way onto the PlayStation 3 and PlayStation Portable. This will be perfect for those wishing to revisit the popular title and for those new to the series. The PSN version will offer brand new CG cinematic sequences along with the features such as  the Active Time Battle system and magic summoning that made Final Fantasy V a must-play title when it was first released. For those curious as to what this game is above, Square Enix has it put nicely:

About FINAL FANTASY V

One day, the Tycoon King, upon feeling an irregularity in the air currents, rushed to the Wind Shrine, only to find the Wind Crystal shattering to pieces right before his eyes. In addition to this catastrophe, an enormous meteor had fallen to the ground, causing earthquakes in the surrounding land near Tycoon Castle.

Unbeknownst to them, this event is about to bring four people from different walks of life together on a common journey filled with new encounters and many mysteries.

[Source: Square Enix]