11/16/1998 AT 12:00 AM EST
Get out the rice: Michael Douglas and Catherine Zeta-Jones are engaged. Douglas, 55, proposed to the 30-year-old Welsh actress on New Year's Eve at his home in Aspen, Colo. "While no date has been set, they plan to wed later this year," Allen Burry, Douglas's publicist, told the Associated Press. "He's now given her a ring." Zeta-Jones's rep, Todd Adair, told AP that the marriage proposal came with a "big ol' diamond ring." The relationship was said to be on the rocks over Christmas when Zeta-Jones opted to spend the holiday in Wales -- but then Douglas ended up joining her. The two met at the Deauville Film Festival in August 1998 and have been dating since March 1999. Yesterday's announcement was reportedly made on Douglas's website. This will be his second marriage and her first.