November 16, 2010 05:48 PM

Suzanne Plunkett/Reuters/Landov; A.G. Carrick/Camera Press/Getty

Prince William has honored his late mother by giving his new fiancée Kate Middleton the engagement ring that Prince Charles once gave to Princess Diana. “It’s very special to me. As Kate’s very special to me now, it was right to put the two together,” William said as the newly-engaged couple faced the cameras for the first time today. The ring is an oval sapphire surrounded by diamonds. William proposed to Kate on a safari in Kenya in October, but he first asked her father for permission to propose. Michael Middleton said that he and his wife are “absolutely delighted” and “thrilled” by the engagement announcement.The wedding, which will take place in the spring or summer of 2011, is already being heralded as the biggest wedding since Charles and Diana’s. –Nadine Shabeeb

PHOTOS: HOW THE ROYAL PAIR WENT FROM ENGAGING COEDS TO ENGAGED COUPLE!

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