Rockstar have today officially announced that Grand Theft Auto V is in full development. The company released a statement on the newswire which confirms that the game will be set in Los Santos only, not all of San Andreas; it will however include "surrounding hills, countryside and beaches".
The statement also confirms that money will be a major theme of the game, and that GTA V will be the largest and most ambitious GTA to date, re-imagining present day Southern California.