Reprinted from an Adobe press release:

Adobe Systems Incorporated (Nasdaq: ADBE) today announced the immediate availability of Adobe Premiere Elements, a brand new Windows-based product for customers who want creative control and reliability when editing their home videos.

Based on the functionality in Adobe Premiere Pro, the award-winning professional video editing software, Adobe Premiere Elements automates tedious tasks so video hobbyists are free to experiment with effects, transitions, text and audio. Using Adobe Premiere Elements, footage can easily be captured from a DV camcorder directly to the video timeline, edited with professional-level effects and delivered as stunning custom DVDs, complete with menus and scene indexes to share with family and friends.

Essential features in Adobe Premiere Elements include: reliable transfer of footage from DV camcorders to the video timeline with no interruptions; automatic shifting of video clips to fill in any gaps whenever scenes are trimmed or rearranged; and integrated DVD burning which makes it simple to create DVDs that are fun to share and convenient to watch. Consumers can experiment with a wide range of easy-to-use special effects, like warping, twirls and pans, as well as broadcast-quality scene transitions and titles. Adobe Premiere Elements customers can easily add sound effects and music-up to 99 audio tracks at a time-to set the mood for their home movies.

Adobe Premiere Elements for Windows XP (Home, Professional, Media Center with Service Pack 1) is available in the United States and Canada for an estimated street price of US $99.99 on www.adobe.com and www.amazon.com. Adobe Premiere Elements will also be included in a bundle with Adobe Photoshop Elements 3.0 in the United Stated and Canada for an estimated street price of US $149.99. Adobe’s complete digital photo and video hobbyist product line is also available on online sites and in select retail locations.

Information about other language versions, as well as pricing, upgrade, and support policies for other countries is available on www.adobe.com. For more information, customers can call 1-800-492-3623.

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