Each player is a Hobbit who is attempting to gather the experience, equipment, and information that will enable him to defeat (outwit) the Dragon at Carn Dûm. A player wins when he defeats the Dragon.
Released almost simultaneously by Queen in Europe and ICE in North America. The game looks good but is maybe a little too light --strategy is rather minimal as you simply run around trying to get stuff. I mostly wish the player interaction were greater.
Similar to Flying Turtle's Kalahen.
Rules available at Globetrotter Games: http://www.crosswinds.net/~globetrotter/game/rules/eHobbit1.htm
There is a variant at Kulkmann's Gamebox: http://members.aol.com/kulkmann/hobbits.htm