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When asked about the progress of Windows Vista during a speech at the Inter-American Development Bank, Gates told the audience: "Sometime in the next year or so we will have a new version," according to a report on CNet.com.

It's not clear whether Gates was referring to the full commercial launch of the new operating system or merely a beta version, but either way it seems the development of Windows 7 is progressing

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rapidly. Last month it was revealed that Microsoft had sent a test version of Windows 7 to the US government, indicating that the operating system is already in a working state.

Microsoft has previously stated that Windows 7 would launch three years after the 2007 release of Vista.

And Gates gave further encouragement to those who are hoping for an upturn in fortunes, after the muted response to Windows Vista. "I'm super-enthused about what it will do in lots of ways," he said of Windows 7.

Microsoft has remained tight-lipped on what features can be expected from the next version of Windows, leading some to speculate that the company is attempting to follow Apple's practice of divulging little about new operating systems until launch.

A Wishlist of potential Windows 7 features was leaked last November, although Microsoft refused to confirm or deny that any of the 61 features would make it into the final code.