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It should be valid if you purchase from any authorized Olympus dealer. However, I think the lens and accessories purchase has to be purchased at the same time as the camera body for the rebate to be valid.
That is my understanding as well. All purchased at the same time, from an authorized Olympus dealer.
I just picked up an OM-D, 45/1.8 and 60/2.8 Macro from Unique Photo. Sweet deal.