Olympus E-P1 Micro Four Thirds Camera Official Olympus E-P1 Digital PEN with HD Video

Olympus have now gone official concerning their up and coming E-P1
Digital PEN micro four thirds camera which is already causing a
considerable stir in the photography world thanks, in no small part, to
the E-P1 combining the compact proportions of a point and shoot camera
whist boasting the versatility of a DSLR thanks to interchangeable
lenses whilst also adding 720p HD video capture into the equation (oh,
and its retro aesthetics are positively to die for, incidentally).

Here's Olympus's official (and particularly extensive) press release in
full:

Olympus Unveils A New Era With The E-P1: Not A Point and Shoot. Not An
SLR. It's A PEN. What Will You Create?

Experience Incredible Multimedia Creative Freedom Blended with Digital
SLR Image Quality, HD Video and Stereo Audio in a Compact Camera Body

CENTER VALLEY, Pa., June 16, 2009 - A new era of digital imaging begins
today with the launch of the Olympus E-P1. The world's smallest
12.3-megapixel interchangeable lens system camera blends the
high-quality still images of a digital single lens reflex (DSLR) with
High Definition (HD) video, stereo Linear PCM audio recording and
In-Camera Creativity within an ultra-portable body. The easy-to-use E-P1
expands your creative horizons and its diverse multimedia features offer
something for everyone. Built for today's visual generation who lead
active lives online and offline, the E-P1 will make you rethink what you
can do with a camera.

Capture More of the Life You Live

Shooting spontaneous images of your daily life usually means snapping
small, grainy images with your cell phone or using a point-and-shoot if
it's handy. A DSLR delivers incredible image quality, but most aren't
compact enough to roam with you. Now, the E-P1 changes the game with a
compact body that delivers the professional quality images of a DSLR
without the bulk. Moreover, its sharp HD video capture and stereo audio
helps you live a better-documented life because you're carrying one
portable camera rather than a DSLR, an HD camcorder and a high-end audio
device.

You can share more of your life with the world when the E-P1 travels
with you. Make your Facebook, MySpace, Flickr, YouTube, Twitter and
personal blog postings unique by capturing and sharing more videos and
photos. You can chronicle more of the life you actually lead, rather
than just special occasions you prepare for, like weddings, holidays and
birthday parties. Since it's the only camera to offer in-camera art
filters for both still photography and videos with high-end audio, even
your everyday activities will look and sound amazing!

The E-P1 is designed for the mobile, visual generation that lives
active lives online and off, and its portability ensures that it will go
with you wherever life takes you, said John Knaur, senior marketing
manager, Digital SLR, Olympus Imaging America Inc. As someone who has
shot with an SLR most of my life, I'm excited that SLR-quality images
can be captured with a camera this compact and portable. The E-P1 truly
allows you to capture it all with the highest still photo image quality
blended with HD video, high-end audio, multiple exposure and creative
art filters in one small, stylish camera.

Innovation since 1959: The Olympus PEN

They say that the pen is mightier than the sword, and now the E-P1 takes
self-expression to a whole new, powerful level. Olympus has a long
history of miniaturizing camera technology. The first-generation Olympus
PEN appeared in 1959 and led the way to high-quality images in a small
package, matching SLR cameras' performance of the era.

Today, Olympus utilized its miniaturizing and engineering expertise to
create a slimmer body, removing the optical viewfinder and mirror box
found inside a traditional DSLR, to create a small but high-quality
interchangeable lens camera. By reducing its lens mount diameter,
Olympus also enabled the production of smaller and lighter lenses to
match the E-P1's body size.
Beautifully Designed Stainless-Steel Body

The new camera's high-end, stainless-steel body is easy to handle and
carry, and has the styling and refinement of a precision watch. Its
retro-chic look turns heads, from tech aficionados and camera buffs to
the fashion-conscious and everyday point-and-shooter. Built to be solid,
it fits comfortably in a jacket pocket or a handbag for a night on the
town, or to take on any spontaneous adventure. The E-P1 lets you do more
and go more places while capturing your life, thanks to its compact size
- 4.75 (W) x 2.75 (H) x 1.43 (D) - and light 11.8-ounce body.
Attention to detail is visible in every aspect of the camera's
retro-style metal body design, available in either silver or white with
accompanying new small and lightweight Olympus M. ZUIKO Micro Four
Thirds lenses: 14-42mm f3.5-5.6 (28-84mm equivalent) and 17mm f2.8 (34mm
equivalent).

The new E-P1 offers many great features derived from the E-System, as
well as many breakthrough innovations, including:

Superior DSLR Image Quality
In-body Image Stabilization
Amazing 3-inch LCD
Proven Dust Reduction System
12 megapixels with next-generation TruePicTM V
HD video with high-quality stereo audio
In-camera creative features (for still images and video)
Multiple exposures
Multi-aspect shooting
Multimedia slideshows
Digital leveler
Magnified focus assist
18×18 metering modes
Small accessories for small camera
Ultra-Compact Body Delivers Superior DSLR Image Quality

The E-P1 erases all doubts about whether a compact camera can take
images that are equal to those taken by a DSLR, because it has
everything you need to produce vibrant DSLR-quality images: a large
12.3-megapixel imager, In-body Image Stabilization, fast Imager
Autofocus, the proven Olympus Dust Reduction System and the new
TruePicTM V Image Processor.

As the first Micro Four Thirds camera from Olympus, the E-P1 provides
the same image quality as current Four Thirds format E-System cameras
because it has the same image sensor size as the E-30 and E-620 DSLR
models, but in a much smaller body. This high-performance 12.3-megapixel
Live MOS image sensor delivers excellent dynamic range, accurate color
fidelity, and a state-of-the-art amplifier circuit to reduce noise and
capture fine image details in both highlight and shadow areas.

Be a Mover, Not a Shaker

Any lens attached to the E-P1 will deliver blur-free images thanks to
three modes of In-body Image Stabilization that compensate for up to
four steps EV (exposure value). Mechanical Image Stabilization works to
automatically compensate for camera shake in low light or when using a
telephoto lens. And because the E-P1 is the world's smallest
interchangeable lens camera with built-in Image Stabilization, you'll
feel comfortable taking it on the road with you to capture the action.

Small Real Estate with an Amazing 3-Inch LCD View

What you see on the new camera's 100 percent accurate, 3-inch full color
HyperCrystal LCD is what you get. Consumers accustomed to composing and
focusing using a point-and-shoot camera's LCD will appreciate that the
E-P1 offers the same easy, seamless experience when shooting still
images or videos. With the new Live Control function, icons appear on
the LCD, making it easy to compose, edit and shoot pictures or videos
without stopping to access various menus. The E-P1's fast Imager
Autofocus in Live View also enables you to compose, focus and capture
the shot quickly and easily without ever taking your eyes off the large LCD.

The LCD displays 230,000 pixels in vivid color and includes HyperCrystal
technology, which offers many times the contrast of conventional LCD
monitors for easier viewing in both preview and playback. It also
provides a wide viewing angle of 176 degrees, which ensures that images
can be composed from even the most obscure angles.

This Camera Leaves Others in the Dust

You don't have to waste precious time worrying about dust ruining the
perfect image; instead, spend more of that time shooting with the E-P1.
The proven Olympus Dust Reduction System produces spot-free photos with
the exclusive Supersonic Wave FilterTM, a patented ultrasonic technology
that vibrates to remove dust and other particles from the front of the
image sensor, capturing it on a special adhesive membrane every time the
camera is turned on.
Unleash 12 Million Pixels on Your Canvas

The E-P1's Live MOS image sensor is complemented by Olympus'
next-generation TruePicTM V Image Processor, which produces clear and
colorful photos using all the pixel information for each image to
provide the best digital images possible. The new image processor is
noted for accurate natural color, true-to-life flesh tones, brilliant
blue skies and precise tonal expression; it also lowers image noise in
photos shot at higher ISO settings (ISO 100 to an incredible ISO 6400),
enabling great results in low-light situations.

What Will You Create with In-Camera Creativity in HD?

Olympus pioneered easy-to-use Art Filters for still images captured
inside its E-System DSLRs, and now those same In-Camera Creative
Features are built into the E-P1 with a fresh twist - they can also be
applied to High Definition video recordings to take your videos to a new
level of creative expression and put you in the director's chair.

Your movies and YouTube videos will have the incredible clarity of HD
whether Art Filters are applied or not. Just imagine how dramatic and
unique your videos will appear with any one of the six in-camera Art
Filters applied as effects: Pop Art, Soft Focus, Pale Light Color,
Light Tone, Grainy Film or Pin Hole. Whether you're a videographer,
documentarian or established director - or just want to shoot like one -
Art Filters set your images and videos apart from the pack. Since
they're built into the camera, you can achieve dramatic results on the
go without needing a computer or editing software.

Because the E-P1 is an interchangable lens system camera you have more
creative options in composition for video capture, to add to your visual
palette. You can attach any one of the new super-compact Micro Four
Thirds lenses or, because the camera can accept many of the other Four
Thirds Format lenses with an available MMF-1 Four Thirds System Lens
Adapter, you can add anything from an extreme wide-angle fisheye lens to
a super telephoto lens for a wide range of expressive options. All the
while you will have more DSLR-like control over depth of field, focus,
white balance and ISO.

What You See Is What You Get

When viewing the LCD in Live View, Art Filter effects and settings like
white balance and exposure are viewable right on the LCD, and their
impact is seen instantly on the display. This real-time monitoring
offers amazing versatility and creative control, and users who apply a
setting have instant gratification because what they see on the camera's
LCD is what they've captured. For musicians used to applying audio
effects like reverb to their instruments before recording them, the
concept of setting the E-P1 to capture precisely the kind of image they
want before they press the shutter makes perfect sense. For imaging
purists who want to shoot without filters, and apply them to unfiltered
images inside the camera later, or just edit images back at their
computers, the E-P1 provides these options and opens more in-the-field
creative possibilities.

Mix It Up with Multiple Exposures

With the E-P1's Multiple Exposure function available for still image
capture you are free to tell a visual story your way, whether in a
portrait, a landscape or a combination of both. The image capture
options allow you to shoot one shot, then another and combine them in
real time, or capture both shots separately and combine them in the
camera later. Overlay your face on top of your pet's face. Create an
identical twin of yourself. Put the moon in the sky at noon. Your
ability to manipulate space and time makes this new creative multimedia
device a veritable time machine.

Frame Your Works of Art Inside the E-P1

You can often achieve greater photographic expression by framing a scene
in a unique way. The E-P1 provides four aspect ratios that serve as
masks to frame your image to the desired proportions, including: the
standard 4:3 aspect ratio that is perfectly suited to an 8 x 10-inch
enlargement; the 16:9 aspect ratio that will display your images
beautifully on a widescreen television; and other popular aspect ratios
such as 3:2 and 6:6. The Multi-Aspect Shooting further expresses your
creative vision when combined with Art Filters and multiple exposures.

Stereo Audio Sounds As Good As the E-P1 Images Look

Like the innovative Olympus LS-10 portable audio recording device that
puts the power of a recording studio in your pocket, the E-P1 features
uncompressed 16 bit/44.1kHz Linear PCM recording capability to capture
the rich sound quality of your scene. When you shoot with the E-P1, it's
like having a sound technician built into your camera to capture the
nuances of the audio happening all around you. It has the versatility to
record and play back in the WAV format and can record with its built-in
stereo microphone. Whether recording audio while shooting a video or
adding audio by recording a narration to your still images, the E-P1's
audio sounds as great as its images look.

Create Your Own Multimedia Slideshows with Stills, Video and Audio
Inside E-P1

Content is king, and with the E-P1 you have your own portable kingdom of
still images, HD video, and audio to remix at your command. In playback
mode you can seamlessly mix stills and movies inside the camera to
create a multimedia slideshow and dub in one of five built-in dramatic
background music options to provide a soundtrack for your cinematic
creation. Plug the E-P1 into any HD television with an HDMI cable and
show off your masterpieces to your audience before the DVD arrives in
stores.

As Easy to Use As a Point-and-Shoot with SLR-Quality Technologies

The E-P1 is equipped with 19 automatic scene modes for effortless
picture taking. Standard scene modes like Night-Scene, Portrait and
Landscape are easy-to-use solutions for everyday shooting. Capturing
beautiful portraits is easy with the new ePortrait Mode. It enables you
to smooth your subject's face - all in the camera and before capture!
Additionally, edits can be made post-capture using the ePortrait Fix mode.

Shooting scenes with both highlights and shadows can often be dicey
because of the extreme contrast between dark and bright areas. The E-P1
addresses this challenge with Shadow Adjustment Technology that adjusts
for extreme light variations and maintains visible detail in both the
shadow and highlight areas of the scene. Now users can see and preview
the gradation on the Live View LCD and capture images showing the shadow
detail they saw. This feature is also accessible in the Edit menu after
the shot has been taken.

The E-P1's Face Detection reduces the chance of blurred subjects in
images by recognizing up to eight people's faces and the background,
tracking the faces within the image area, even if people are moving, and
automatically focusing and optimizing exposure for sharp, brilliant
portrait pictures (ideal for large family or party group photos).

If you don't want to change camera settings every time you're shooting
something different, then the E-P1's Intelligent Auto Mode is for you.
It automatically identifies what you are shooting (Portrait, Landscape,
Night + Portrait, Macro, Sports) and adjusts settings to capture the
best result depending on the situation. First-time users will enjoy this
quick and hassle-free feature, which does the thinking for them and
produces incredible images like a pro.

The New Super Control Panel with Live Control technology, along with the
camera's intuitive button layout, enables you to see both the image and
the controls on the 3-inch HyperCrystal LCD, making the camera simple to
use. The E-P1 records to SDHC media cards to accommodate large files
including videos with In-Camera Creative Features and uncompressed audio.

Digital Leveler

The E-P1 is equipped with an internal Digital Level Sensor that detects
the camera's pitch and roll and indicates it on the control panel. This
Digital Leveler is a tremendous benefit when capturing landscapes. Level
the perfect coastline shot on your next tropical vacation without being
tethered to a computer and editing software.

Magnified Focus Assist

To enable accurate manual focusing the E-P1 provides MF Assist Function
and Magnification Display. In S-AF + MF or MF, the MF assist enables you
to zoom up the central part of the image by up to 5 times by turning the
focus ring. The Magnification Display lets you magnify the image on the
LCD by up to 7X at the touch of a button. Additionally, if you use the
dial, you can boost magnification all the way up to 10X for more precise
manual focusing.

18×18 Metering Modes

This mode divides the image area into an 18 x 18 grid, metering each of
the 324 separate cells to obtain optimum exposure. In addition to
324-division ESP metering, center-weighted metering and spot metering
modes are also available.

Smaller Accessories for Small Camera

In addition to the new Micro Four Thirds lenses, Olympus also offers an
optional Clip-on Optical Viewfinder for use with the Micro Four Thirds
17mm f2.8 (34mm equivalent) lens. The MMF-1 Four Thirds System Lens
Adapter enables all Olympus ZUIKO Digital lenses as well as Four Thirds
System lenses from Sigma, Panasonic and Leica lenses to attach to the
E-P1. If you have Olympus OM lenses and want to attach them to the E-P1,
that is possible with the MF-2 OM Lens Adapter. Additionally, an
optional FL-14 flash unit, suitably small for the camera, adds more
lighting versatility to your shots.

OLYMPUS Master 2 Software

Use the included OLYMPUS Master 2 software (Mac and PC) to easily
download images from the camera or other external device, such as a USB
drive, and automatically organize them into albums and groups and by
date. Develop high-quality RAW images, apply Art Filter effects, edit
and print images. Update camera and lens firmware through the software
and download additional menu languages. A direct link makes uploading
your images and videos to YouTubeTM easier than ever.

OLYMPUS Studio 2 (Trial Edition Included)

Extend the capability of OLYMPUS Master 2 with OLYMPUS Studio 2. In
addition to the functions of OLYMPUS Master 2, this software includes a
lightbox mode and selection marks for comparing and sorting multiple
images. RAW processing is enhanced with additional controls for finer
adjustments. The trial edition can be used for 30 days after
installation. After the trial period has expired, a license key is
required for further use.

Availability

The Olympus E-P1 will be available in July 2009. It includes E-P1 Body,
USB Cable, Video Cable, Li-Ion Battery Pack (BLS-1), Li-Ion Battery
Charger (BCS-1), Shoulder Strap, OLYMPUS Master 2 Software CD-ROM,
Manuals and Registration card.

U.S. Pricing / Product Configurations

E-P1 Body Estimated Street Price: $749.99

E-P1 Body with ED 14-42mm f3.5/5.6 Zuiko Digital Zoom Lens Estimated
Street Price: $799.99

E-P1 Body with ED 17mm f2.8 with optical viewfinder Estimated Street
Price: $899.99