Olympus officially launched their long-anticipated Micro Four Thirds model, adopting the Pen name, on Monday evening at an event in Berlin, Germany.

Sighted as a prototype at various photo events during 2008, and subsequently in online leaks, the 12.3-megapixel E-P1 joins the Panasonic Lumix G system cameras in using the Micro Four Thirds format.

The styling of the E-P1 is somewhat unique, with Olympus drawing on Maitani's Pen design for inspiration, evoking memories of a golden era of photography. To help you recreate a little glamour for yourself, the E-P1 comes packed out with the Art Filters seen in other Olympus models.

It will feature an HDMI to output your HD movies, with the E-P1 capturing HD movies at 30fps in 720p, with stereo audio.

Diverting away from the dwindling xD-Picture card format, the E-P1 will accept SD and SDHC cards. With a 3-inch LCD display on the back, it will come in a variety of colours to suit your retro preference, either white, black or silver.

There is already an extensive line-up of accessories, including a fetching leather strap, external flash unit and adaptor rings for Four Thirds and OM lenses.

The E-P1 will come with a 14-42mm (28-84mm equiv.) zoom kit lens, whilst the 17mm (34mm equiv.) "pancake" lens will be an optional extra, packaged with the attachable optical viewfinder. The E-P1 will cost £699 with the zoom lens, or £749 with the pancake.

The new Olympus Pen will be hitting stores at the beginning of July, but we'll be bringing you our hands-on impressions soon.