Olympus has finally announced its new flagship E-3 digital SLR camera, replacing the previous Olympus E-1.

The Olympus E-3 boasts a 10.1-megapixel Live MOS image sensor with "TruePic III" digital processing and in-body mechanical image stabilisation, 5fps continuous shooting and 1/8000 second top shutter speed.

Housed in a sealed magnesium alloy housing, the Olympus E-3 DSLR also features the world's fastest auto-focusing speeds, Olympus claims. This is thanks to an advanced AF system and the new range of Zuiko Digital Specific SWD (Supersonic Wave Drive) lenses.

Swivel screen

There's also a dual-axis swivel 2.5-inch LCD screen with real-time image monitoring of white balance and exposure, and ISO ranging from 100-3200. The camera can handle both CompactFlash Type I & II, UDMA, Microdrives and xD-Picture Cards.

Alongside the Olympus E-3, Olympus has introduced the Olympus FL-50R and the Olympus FL-36R: two new wireless electronic flashes with rotary heads that can be swiveled in four directions. Five new lenses are also available: the Zuiko Digital Ed 12-60mm SWD; Zuiko Digital Ed 50-200mm SWD, Zuiko Digital Ed 14-35mm SWD; Zuiko Digital Ed 70-300mm SWD and the Zuiko Digital 2x Teleconverter EC-20.

The Olympus E-3 digital SLR will be available in November, priced at £1,099 for the body only. A bundle kit with the 14-35mm lens will cost £1,499, while a kit with the new 12-60mm lens is going for approximately £1699.