Word is that could be the name for the upcoming MINI Cooper Cabrio. Whatever it's called the car is expected to go on sale in the UK sometime in the middle of '04. I would expect the US would be close behind.

From other photos we can tell the boot will be bottom hinged (ala the original Mini) and that the roof shouldn't interfere too much with the space of the backseats. Also it looks as if they've moved the antenna to just above the middle of the windscreen. This particular picture is from The Car Connection. There are more in the “Pictures” section of bridger.us/mini.

[Update] It looks like there will also be a Cooper S version of the MINI Cabrio.