Britney & Kevin's Exclusive Interview

Thursday July 01, 2004 12:00 PM EDT

Kevin Federline and Britney Spears

Chris Pittam/Splash News

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She is the princess of pop, but Britney Spears has recently taken a keen interest in rock. A five-carat rock, to be exact. Set atop two slender platinum, diamond-encrusted bands worn on her left ring finger, it's dazzlingly beautiful. And yes, it means what you think it means. Last week, the singer, 22, confirmed that she is engaged to her boyfriend of three months, dancer Kevin Federline, 26, and she's delighted to share the good news.

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"I'm feeling everything," says Spears as she nestles in Federline's lap. "I'm excited. Elated. Happy. I wake up in the morning, look at that ring and think, 'Very cool.' " Federline has already won the blessing of his future mother-in-law. "They have good karma," says Lynne Spears. "I think they're a good fit."

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