Here’s the leaked picture and specs of Olympus’ upcoming EP-1 micro four thirds digital camera, which is scheduled to be released starting tomorrow in Japan. This compact camera offers a 13-megapixel image sensor, a 3-inch LCD, an 11-point autofocus sensor, ISO up to 6,400, shutter speeds between 60 and 1/4000 seconds, a microSD card slot and the capability to capture RAW images as well as seven minutes of 720p video or 14 minutes of 640 x 480 resolution video. Prices start at the equivalent of $917 (body only) or with a lens for $1,222 to $1,324.

Panasonic has announced that they will release the Lumix DMC-FS7 10MP copact camera. Available in Silver, Blue, Pink and Green, the digicam boasts a 4x optical zoom, a 2.7-inch wide view LCD. It is also able to record VGA video at 30fps. Unfortunately, there is no word on pricing of the Japanese version.