Liz Hurley Spurns Bing's Support Offer

12/18/2002 at 01:20 PM EST

In a transatlantic exchange of words, movie producer and real-estate scion Steve Bing said Tuesday that he'd pay $158,000 a year to support the son he fathered with actress Elizabeth Hurley -- who promptly responded that the money was "not wanted or welcome," the Associated Press reports.

"I have always made it perfectly clear to Stephen Bing, the father of my son Damian, that I don't want any financial help from him whatsoever," reads a statement from the actress, 37, who went on to say that she intends to refuse Bing's offer.

"I know that 100,000 pounds ($158,000) a year is an enormous sum of money to Mr. Bing, and I fully appreciate his generosity toward his son," Hurley's statement adds. "However my position remains the same. The money is not wanted or welcome. Damian and I are managing very well by ourselves."

Damian was born April 4, and shortly afterwards, DNA tests proved the movie producer's paternity.

Bing, 37, had long questioned whether he was the father, starting from the time Hurley first announced she was pregnant in November 2001. The Los Angeles-based Bing claimed he and the London-based Hurley were not involved in an "exclusive" relationship.

On Tuesday, Bing secured an order requiring him to make annual payments until Damian turned 18, for a total of 1.8 million pounds (or $2.8 million).

"Mr. Bing is delighted that the matter has been concluded and that he is able to honor his pledge to make generous provision for his son," a statement from Bing said Tuesday.

A spokeswoman for Bing tells AP that the money would be placed into a trust and was not for Hurley to refuse.

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