Adobe has launched a cross-grade promotion offering 50% discounts on Premiere Pro CS5.5 and Creative Suite 5.5 Production Premium, the multi-application bundle that also includes Adobe After Effects CS5.5, Photoshop CS5.5 Extended, Flash Professional CS5.5, and numerous other video and web production applications. To qualify for the discount, you must be a current owner of Apple Final Cut Pro or Avid Media Composer. 

After the discount, which at this time appears to be only available in the U.S., Premiere Pro CS5.5 costs US$399.50 (normally $799.00) and CS5.5 Production Premium costs US$849.50 (normally $1699.00). The offer expires on September 30, 2011.