Udu, one of my regulars, found a product page for the new ereader from Imagin, a UK based digital picture frame maker.
This is your basic 5" ereader with a LCD screen, 2GB Flash, a SD card slot, and a speaker but no Wifi or touchscreen. It doesn't appear to support any DRMed format, but ebook support includes ePub, PDF, and txt. It can also play MP3, MP4, AVI, and FLV.
WH Smith are selling it for £64.99.