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I know they have the Lumix G Vario 14-45mm 3.5-5.6 and the 45-200mm 4.0-5.6 lenses but does anyone know if they have a basic 50mm 1.8 lens available yet? Or will I have to get the micro four thirds adapter and just buy a Zuiko or Sigma lens?

April 25, 2010 at 10:37 pm
No that is it. Those are the only two lenses that will have complete functionality with the G1.
The G1 is compatable with many other 4/3 lenses but you will need an adapter. Also not all the functions would work. Auto focus will be lost on most if not all other lenses. See the review below.
http://www.imaging-resource.com/PRODS/DMCG1/DMCG1A.HTM
April 25, 2010 at 10:37 pm
The 14-45mm and 45-200mm are the only two native G1/µ4:3 lenses available at this moment. The 14-140 is set to launch next month, along side the GH1… the G1′s video-recording capable sibling. The 20mm (equiv. to 40mm) 1.7 is expected out later this year.
This page contains a compatibility list for 4:3 lenses:
http://panasonic.jp/support/global/cs/dsc/connect/g1.html
There are also a number of mount adapters for 4:3 and µ4:3. Including Nikon F and Canon FD. These are strictly mechanical, which means no autofocus and you must use the aperture ring on the lens (provided it has one). And keep in mind that the G1 has a 2x crop factor.