As far as I know, Lionhead said that Fable 2 will be released early 2007. No exact date as of yet. 
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"I have seen the blood and dirt on their faces. I’ve seen young boys turned into soldiers. I’ve seen men ripped apart by bullets. I can’t forget these things I have seen. And so I ask myself: How much more can one man take?" -Sgt. Matt Baker
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