Hollywood star gets prized Diana role

The movie will concentrate on a period before her death in August 1997 in which she had found “true personal happiness”.

The director is Oliver Hirschbiegel, best known for his film about the final days of Hitler, Downfall, and the movie, Caught In Flight, is being made by UK-based Ecosse Films.

British-born Watts, who emigrated to Australia in her teens, landed an Oscar nomination for her role in 21 Grams. She is also known for her roles in King Kong and Mulholland Drive as well as her TV ad for Thierry Mugler perfume.

She said: “It is such an honour to be able to play this iconic role – Princess Diana was loved across the world and I look forward to rising to the challenge of playing her on screen.”

Watts, who spent much of her childhood growing up in Wales, will begin work on the film later this year.

The screenplay is by playwright Stephen Jeffreys, who wrote the 2004 Johnny Depp film The Libertine.