After just five months together, Greek shipping heir Paris Latsis popped the question to Paris Hilton on May 25. "They are happy and excited," says Hilton's spokesman, Rob Shuter. Latsis proposed after Hilton, 24, returned from a three-week trip to Europe to promote her horror flick House of Wax and her new perfume.
"He's the one," Hilton says of Latsis (in L.A. on May 30), whom she first met 10 years ago at a club in Monaco when they were teenagers. "I didn't see him again until his birthday in December and I fell in love," she says. The two rekindled their relationship while skiing in Gstaad, Switzerland, over the holidays.
Hilton's dad, Rick, gives the thumbs up to his future son-in-law: "She is very in love with this boy," he says of the couple (cuddling at the Hiltons' home in Bel Air in March). "They talk on the phone every minute." Plus, the two have billions in common: While her family's fortune comes from its namesake hotel chain, Latsis's grandfather, a former fruit picker, earned his wealth in the shipping industry.
To celebrate their engagement, the couple hosted a barbecue on May 29 for 75 friends and family members at the Hollywood Hills home they share. A day later (left), Hilton and Latsis canoodled by a pool at the W Hotel in Los Angeles.
"He writes me love letters and gets me roses every day," says Hilton. "He has all my pictures of all my billboards everywhere. I love it." And she keeps Latsis just as close even when they're apart: Leaving a West Hollywood nail salon in March, she shows off her puppy "Love" while toting a folder with his picture on it.
Hilton (wearing a brunette wig) and Latsis share an intimate moment on the Beverly Hills set of her upcoming comedy Bottom's Up in April. What makes her betrothed, who's reportedly a student at UCLA, so special? "He's just one of the most loyal men," says Hilton. "He's the sweetest thing ever. He's a good person."
Credit: Lee Roth/STar Max; Seth Browarnik/WireImage; bauer-griffin
Before Latsis, Hilton had her share of paramours – and that infamous sex tape. Her tumultuous seven-month relationship with Backstreet Boy Nick Carter (left, in 2004) was "totally based on distrust," he told PEOPLE. Things were lighter with her Pledge This! costar Simon Rex (center, in August), and as for her two-year stint with model Jason Shaw, the exes (in 2004) have remained friends since splitting in 2003.
Though they haven't set a wedding date, Hilton already sees children in her future with Latsis (in Hollywood on May 7). "I want to have kids in the next two years because I know that completes your life," she says. "I think that when I have kids that'll make me happier than I already am."