It's one of my many bikes... A Trek SU300 "Pavement Bicycle".
I bought it on a whim about 15 years ago. From memory it was about $1,500 AUD and it's preformed very well.
I use it when I feel like cruising the beach path near my house.
Here's one but this isn't my photo. I'm think about repainting and rebuilding it into something special.
I've started to collect some NOS Campagnolo OR* and Paul parts for it. (*Campagnolo Off Road from 94-95)