Sony have announced that they've got the exclusive rights to the Formula One series for the next four years, meaning F1 games based around the 2003-2006 seasons will only be released on the PlayStation 2.

The company have also confirmed that the first title from the newly extended licensing agreement, will be Formula One 2003 which is due for release next month.

Developed by Sony's Liverpool studio, Formula One 2003 will be the first game to feature the all new rule changes which were bought in to the sport this year to make it more competitive and exciting, such as the one-shot single lap qualifying, and new race regulations.

Each of the 16 circuits has been mapped out to match that of the real world versions, with all of the objects such as adverts, braking boards and bollards in position and looking exactly like the real item.

All 20 drivers and 10 teams all faithfully represented using an amazing level of accuracy. Season statistics will also feature, which presumably means that the Brazilian race will be a near enough farce after being a total washout due to the torrential rain.

"I believe we will create a totally new consumer game experience that combines the power of PlayStation 2 with the exhilaration and spectacle of Formula One and short of pulling on gloves and a helmet this is as close to being in the drivers seat as you're going to get" said SCEE's Chris Deering, under the roar of passing F1 cars.

Formula One 2003 is due for release on the PlayStation 2 in July - the same month as the F1 action rolls in to the UK with the British Grand Prix at Silverstone.