In a press release three months back, it was announced that Capcom has joined forces with Sony Pictures Entertainment to produce Resident Evil: Degeneration, the first full-length CG animation feature based upon the popular "survival horror" game series. So far, three live action films based on the series has been release but Resident Evil: Degeneration will feature a brand-new story line. A teaser trailer for the CG animation has turned up on dailymotion and according to the footage, the story is set 7 years after the events of Resident Evil 2 game with appearance of Leon S. Kennedy and Claire Redfield, one of the main protagonist in the series.
Resident Evil: Degeneration is set for release in 2008.

I don't know what to think about this really, even after seeing the trailer. It's probably because I still have a bad taste in my mouth from the three live action movies.
Apparently this is a FAN-MADE trailer and is NOT official.
That is a possibility but I don't recognize the footage in any of the Resident Evil games. My theory is this could be the sneak preview of Resident Evil: Degeneration that is suppose to be included in the Resident Evil Extinction DVD. Perhaps someone have gotten a hold of the preview somehow and leaked it over the internet.
If Sony send a cease and desist order, then we'll know if its legit. If there is prove its a fake, I'll update this post to let everybody know...
Definitely NOT fake! Looking forward to this. The three movies have been an insult to the actual game, where Silent hill the movie was a straight ace in the hole with the whole setting and made it completely like the game. Hope this CG movie makes up for all the 3 ridiculous movies!