Computer and Video Games have posted an Interview with Project Director Yuji Kojima and Producer Yasushi Kawasaki about Teenage Mutant Ninja Turtles, the upcoming cel-shaded action title from Konami:

    Where does it fit into the Turtles series? Does it take place before or after the events we've already seen?

    It's based on the TV animation series, so it's the beginning - they have the Foot ninja clan characters, they're still fighting against Shredder - those parts are adapted from the TV show.