LT stands for Leather Tech; the cameras have a leather design look. The case of the LT-1 resembles a wallet rather than a camera case.
The LT-1 featured a 35mm/F3.5 AF lens, built-in film transport and flash. It was available in four different colours (brown, burgundy, black & green).
It's generally rarer than the Mju's
"The Olympus µ[mju:] (US: ∞ Stylus) was a fully automatic 35mmcompact camera introduced by Olympus in 1991. Notably evolved by camera designer Maitani Yoshihisa[ from his Olympus XA design. It was very small and curvy, with an integrated lens cover. It is switched on by shifting the lens cover to one side. The Stylus was the first model in the hugely successful Olympus mju/Stylus series, selling 5 million on its own
The original mju/Stylus was generally available in black, but a LIMITEDedition model (50,000 examples) with a metallic silver finish was also released. 1992 saw the release of the Olympus µ[mju:] PANORAMA. This utilized tiny magnets to move a mask in front of the film in the middle of the roll, while keeping the body and basic spec unchanged. Some versions of the mju actually say µ[mju:]-1 on the front."
Earlier Mju units were built in an Olympus factory in Japan, while some later examples (mostly 'µ[mju:]-1' marked), according to markings on the bottom, were assembled in China with Japanese-made parts. This one was assembled in Japan
Specifications
These are for the Mju 1 which are pretty much the same as the LT-1