07/24/2008 AT 09:00 PM EDT
Matt Grant and fiancée Shayne Lamas have ended their short and often-rocky relationship, they tell PEOPLE.
"We tried hard to make it work but we realized that we were both heading in different directions," the two said in a statement to PEOPLE. "We truly care about each other and will remain close friends."
Neither would elaborate.
Grant, 27, and Lamas, 22, have been plagued with reports of trouble since their televised engagement on ABC's The Bachelor: London Calling
One month later Grant told PEOPLE that he had moved out
of Lamas's Century City condominium, citing a need for "space."
At the time Grant said the engagement was still on. "This stuff makes us stronger," he told PEOPLE.
Grant picked Lamas, an actress and the daughter of Lorenzo Lamas, from 25 female contestants vying for the English financier. In the show's conclusion, Grant not only presented the winning rose to Lamas, but also got down on one knee and popped the question
with a 2.85-carat platinum and diamond eternity ring.
Life may come easy for celebs, but love sure doesn’t. Check out more shocking, and sometimes not-so-surprising, splits on the covers of PEOPLE