Olympus and Panasonic have announced today at PMA 2006 the result of their January 13, 2005, agreement, Panasonic's First DSLR, which complies with the Four Thirds System standard for interchangeable-lens-type digital SLR cameras.

The camera incorporates a 4/3 type Live MOS sensor with 7.5 million pixels and the producer is touting a new processing technology that runs on voltage as low as 5V used to minimize the noise.

The DMC-L1 also features the Venus Engine III image processor, which offers high resolution, superior color reproduction and detailed gradation The Venus Engine III also improves camera responsiveness supporting high-performance consecutive shooting and a short shutter interval.

Despite offering superior performance, the new processor, also found on Panasonic's TZ1, consumes only 80% as much power as its predecessor, the Venus Engine II.

But these specs are unimpressive compared to the Live View function, first seen on Olympus' latest D-SLR, the E-330 and the Supersonic Wave Filter system.

This Live View function can be selected in both Auto Focus and Manual Focus modes. In Manual Focus, photographers can enlarge an image within the frame and then select the area focusing, making it easier to check the focusing condition on the large 2.5inch, high resolution, 207,000 pixel LCD. Having this feature, the DMC-L1 becomes the second D-SLR which allows users to compose their image on the LCD.

As stated above, the camera also has the well-known Supersonic Wave Filter system, which prevents dust particles from adhering to the sensor.

The DMC-L1 further benefits from a new LEICA D VARIO-ELMARIT 14-50mm/F2.8-3.5 lens, equipped with an aperture ring, focus ring and zoom ring, for easy, direct aperture setting, Leica's first lens for the Four Thirds System.

Given all the features embedded in Panasonic's first D-SLR, one could easily say that the company has succeeded to come up with a product that steps out of the single lens reflex crowd.

Click here to view more images of the DMC L1.

Image credits: LetsGoDigital.