At a premiere, Tracey Edmonds flashes the "sweet" diamond ring Murphy gave her

By Stephen M. Silverman
Updated July 24, 2007 03:00 PM

Further proof that Tracey Edmonds and Eddie Murphy are still very much an item: The diamond sparkler that film producer Edmonds has been sporting on her left ring finger since May, which she showed off at her movie premiere Monday night.

“This one is a really sweet, wonderful, beautiful gift that this man gave me,” Edmonds, 40, pointing to Murphy – her date at Hollywood’s ArcLight Cinemas for the opening of the comedy Who’s Your Caddy? – told PEOPLE.

“No, this isn’t an engagement ring,” Murphy, 46, clarified. “If I were gonna do an engagement ring, it would be much bigger.”

Making a half-dollar-sized circle with his fingers over her ring, he emphasized, “This big!”

Earlier this month, Edmonds, who started dating Murphy last fall, had to shoot down rumors that she and Murphy had split in the wake of the paternity case between Murphy and his former girlfriend, Spice Girl Melanie Brown.

Who’s Your Caddy?, about a rap mogul who attempts to join a conservative country club Down South, is the premiere attraction from the company operated by Edmonds, Our Stories Films.

“It’s the first African-American-owned studio where people of color can greenlight their own films,” said Edmonds, “and this is our first release! We’re making history here tonight.”

Also walking down the red carpet was Edmonds’s ex-husband, Kenneth “Babyface” Edmonds. (The couple’s divorce became final in June.)

“I’m here for Tracey,” the R&B singer, 49, holding hands with his actress girlfriend, Nicole Pantenburg, told PEOPLE. “This is Tracey’s movie … and this is just the first of many more to come,” he added proudly.

Tracey Edmonds already has eight projects in development, and when it comes to having Murphy, 46, attached to any of them, “We’ve been talking about it, but nothings solidified yet,” she said.

Meanwhile, she later joked to her date, “Did I drag you here?” Replied Murphy, “No, she didn’t drag me.”

Later on, at the after-party, Edmonds and Murphy seemed “very comfortable with each other – happy and carefree,” a guest observed. “They took photos with fans and chatted with friends and colleagues.”