Panasonic adapter DMW-MA1 and Oly EPL1

I found one of these adapters. I understand that it is for (and would like to confirm) 4/3 lenses to micro 4/3 body. Is this correct? Will it work on an EPL1 body? I may sell it, but if I can use it on the EPL1 body (I only have the kit zoom lens), I may keep it and check prices on used 4/3 lenses. Thanks for your help.
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http://digitalphotonut.zenfolio.com/
http://www.flickr.com/photos/61931648@N02/?saved=1