Update

Uma Thurman Engaged to Multimillionaire

UPDATED 06/28/2008 at 06:00 AM EDT Originally published 06/27/2008 at 09:10 AM EDT

Uma Thurman Engaged to Multimillionaire
Uma Thurman and Arpad Busson
Richard Young/Startraks
Uma Thurman is engaged to her Swiss multimillionaire boyfriend, Arpad "Arki" Busson, her rep confirms to PEOPLE.

"I can confirm she is engaged," Stephen Huvane said on Friday. New York's Daily News was first to report the engagement.

On Saturday, the couple themselves made the announcement, on page 75 of London's The Times.

Under the heading "Mr A. Busson and Miss U. Thurman," it reads, "The engagement is announced between Arpad, son of Mr Pascal Busson, of Paris, and Mrs Florence Harcourt-Smith, of South of France, and Uma, daughter of Mr and Mrs Robert A. F. Thurman of New York."

In return for saying yes, the actress received some serious sparkle: an 8-plus carat center stone surrounded by 20 smaller stones. "It's the most beautiful piece I've ever seen," says a close source of the diamond ring. "Arki did a wonderful job."

The pair began dating last summer after attending a private dinner together in Milan. Since then, their relationship quickly heated up despite the fact that the couple lived on different continents (she is based in New York, he in London).

It would be the third marriage for Thurman, who has a son and daughter with ex Ethan Hawke, whom she divorced in 2003. Her marriage to Gary Oldman ended in 1992. Busson has two sons with former supermodel Elle Macpherson, from whom he split in 2005.

No wedding date has been set, says the source.

With additional reporting by MONIQUE JESSEN

More Celeb Engagements: Find out how Tom popped the question to Katie, see Britney and Kevin when they were happy, and other celebrity engagements on the cover of PEOPLE

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