You'll be able to download the Legendary Pokemon Mewtwo for Pokemon Black and White from February 12th.

Mewtwo first appeared in Pokemon Red and Blue and was created by scientists who dreamed of creating the world's strongest Pokemon. They succeeded as, according to its total base stats, it is the most powerful Pokemon in Generation I.
This Mewtwo has the following moves: Psystrike, Shadow Ball, Aura Sphere and Electro Ball.
It was made available in Japan last year to celebrate the first anniversary of the release of Pokemon Black and White in the country.
To download Mewtwo for your copy of Pokemon Black and White you need a wireless broadband connection, a copy of Black or White and you mustn't have more than 11 Wonder Cards in your possession.

Hangon! Shouldn't it get the special Electro Ball and Psystrike moves!?
That's what Serebii.net said the US were getting!!
Why are they giving us Mewtwo again? Surely everyone already has this Pokemon from one of their games by now. I'm still waiting to collect the Black/White legendaries ffs.
i thought that too it is supposed to get psystrike (its signiture move), shadow ball, aura sphere and electro ball
either way i'm getting this
It does get Psystrike, Shadow Ball, Aura Sphere and Electro Ball. Even the screenshots say that. Not sure where Tom got the Gyro Ball and Hammer Arm bit from lol
Those legendaries are coming, but as always, are gradual. Do note that Arceus came out 3 years after Diamond & Pearl. They're released one a year with a movie
@ Slinkington - maybe because not everyone has Mewtwo. Examples: people for whom B/W is their first game, people who failed to catch Mewtwo in an old game, people who haven't completed another game to the extent that they had chance to get it, missed previous gift events and so on. I don't have it, and I'm looking forward to this.
If I wanted Mewtwo I'd play through Pokemon Fire Red, catch it, transfer it to Diamond/Peal then trade to Black/White. But that's just me. And yes it's a cumbersome task, but I did it for a Chansey with Seismic Toss a few years ago. I wish they'd reward the people who go to these great lengths with more interesting Pokemon though. I'm not a huge fan of B/W and aren't sure if I'll be interested in the next major title unless they change how the "Story" plays out a bit. Start as an older Pokemon breeder and pick from something other than Fire/Grass/Water at the start. </ramble>
Thanks for that info, this is what I'm getting at - I don't have Arceus because I didn't know it was given out. I didn't know because after 3 years of the game being out I'd moved onto other things and therefor, missed out. >_>
Ooh, do want.
Well Arceus is coming on the Global Link next month
Want,so much.
i'd rather have a mew
Guys, I've still not beat the Elite Four... would this affect my receiving of Mewtwo, or do I need to buckle down and get past them?
Same here but it's probably because I'm rubbish at Pokemon and it's not for the want of trying either...
I've run out of people to battle and I think the only way I would beat them is to start again and fight everything but I just cant stand random battles especially with every two squares you move! GAAAHHHHH!!!
Na, you can receive it at any time
...those are all s**t moves and what about the vote arceus?
I made an error with the moves. Sorry about that. Corrected now...
I read on Serebii a Rayquaza with V-Create was available next month... YAY! DOUBLE EVENT!!!!
YAY! EVENT! I will soon have two Victinis, and then two Mewtwos. I heard about this Vote Arceus in the Dream World, I hope that will be here soon too.
Finally, we get the best legendary Pokemon!
Will this be available in the Netherlands as well? I hope so
Awesome
but call me stupid, but what are wonder cards??? 
Well, despite all of the previous comments, I'm pretty excited about this pokemon Wi-Fi event. I quick like Mewtwo (Before Generation 4 it was my second fave pokemon (the first being Arcanine)). It has some good new moves and I like new moves added to a somewhat old pokemon. The only thing that bugs me now in general though is the fact that Aura Sphere was Lucario's move (Lucario was my fave pokemon before Gen 5) and alot of pokemon now have stolen it. Togekiss and Mewtwo to name a few. Apart from that and the fact that I would like to get some Black and White legendaries events I think that this is a pretty good offer from Ye olde Nintendo. But I do have one question. Can I recieve this if I havent got the National dex?