Linux Lite is a new distro that is based on Ubuntu. The current version 1.0.6 uses Ubuntu 12.04 as its foundation. Future versions of Linux Lite will be built on long-term versions of Ubuntu.
The distro is designed for persons new to Linux and those with low level hardware. It uses the XFCE window manager which provides a light weight system. It comes with all the software one would need to be fully functional from the start. This includes:
Here is a great video overview of Linux Lite: