Micro 4/3 LR and the LX5

Lightroom 3 definitely supports RAW conversion for the LX5. The one thing Lightroom 3 does not have is a built-in lens correction profile for the LX5.
 
You may need to update to the latest version for Lightroom 3. To do this just go to 'Help' on the menu bar at the top and down to 'Check for updates'. The software will check for updates and update the software for you.
 
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