My Mju claims the same functionality. I am not sure whether you really can do it in camera, or if the panorama mode (where it gives you markers for how much overlap to do etc) only operates with an Oly card. Either way, I expect my results are better having done the panoramas using proper software, with far more user control.

http://www.flickr.com/photos/zou-san/876610857/in/set-72157601544659882/ (for example)