Those great people over at PrivateerOnline.de found this article at a US gaming magazine's home page yesterday...
Privateer 3 Re tooled
While rumors on the Net suggest Origin's Privateer 3 has been completely scrapped, the reality is that it is being massively revamped.
July 20, 1999
The news of a major revamping is something of a mixed blessing to Privateer fans. On the one hand, the game is not canceled (as many had previously thought), but on the other, Origin is no longer willing to commit to a release date for the game.
Said a spokes person for Origin: "All developers have to constantly re-evaluate their products. The team is going to be changing a lot of things in the game."
Privateer 3 was originally slated for release this fall.