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Photo trade show PMA is just around the corner, and new cameras are being announced left, right and sensor. Standing out among these is the Olympus E-PL1, the latest addition to the Micro Four Thirds lens format, which adds a feature sorely missed from previous models: a flash -- saviour of the universe.

For low-light performance, the E-PL1 benefits from optical image stabilisation and goes up to ISO 3,200. It shoots high-definition video, filming up to 7 minutes of 720p footage in one go. Video is recorded in AVI format at 30 frames per second.

As well as shooting in raw mode, the E-PL1 will combine up to three raw snaps to create a final image. It also boasts assorted art filters to gussy up your pictures with special effects.

The E-PL1 adds some of the features we missed in the Olympus E-P1 and Olympus E-P2, announced in November. It'll have to go some to top our current favourite Micro Four Thirds model, the Panasonic Lumix DMC-GF1. Olympus is stopping by CNET Towers later today, so stick with Crave for an early review imminently. Update: Here it is, in videophonic form no less.

In the meantime, click 'Continue' to see more of the E-PL1 and find out if the price will save every one of us.

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The E-PL1 boasts a 69mm (2.7-inch)screen. The hotshoe allows for acessories, such as a viewfinder or stereo microphone, to be attached.

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The E-PL1 adds a built-in pop-up flash, a much-missed feature of the previous Pens.

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The E-PL1 also adds colour to the Pen's louche aesthetic, appearing in black, white, champagne and red. It will cost £550 with a 14-42mm lens, or £700 with a 40-150mm lens thrown in.

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