Microsoft has finally announced that the Xbox 360 Elite is going to be available in Europe on August 24th.

The Xbox 360 Elite is a black version of the console with HDMI connectivity and a larger 120GB hard drive.

The HDMI connectivity means that the it has high def 1080p support while the super-sized hard drive obviously gives users more space to store Xbox Live Arcade games, music and other content.

So what to do with all that extra space? Xbox fans will be happy to know that video downloads (including some HD content) on Xbox Live Marketplace will arrive in Europe before the end of the year, bringing us up to speed with our American cousins.

The Elite package also contains a black wireless controller, a high definition cable and an Xbox LIVE headset.

Although the date was officially confirmed, Microsoft were tight-lipped on pricing, leaving us to speculate on how that $479.99 price tag will convert to pounds.

A previous news story we published predicted that 24 August date which, as the date was correct, could mean that the £300 price tag will also be on the nail.