Paris Hilton and Greek shipping heir call off engagement

Paris Hilton will not be adding "shipping heiress" to her resume. The celebutante-turned-model has ended her five-month engagement to Greek shipping heir Paris Latsis, Us Weekly reported Friday, quoting a statement it said Hilton released to the magazine.

"I'm sad to announce that I've called off my engagement. Over the last couple months I've realized that this is the right decision for me. We remain best of friends, and I'll always love him. I hope people will respect my privacy during this emotional time," Hilton told the magazine. Hilton's publicist did not immediately return a call from The Associated Press.

Hilton, 24 and Latsis, 22, became engaged in the spring. "I'm so in love and grateful to have found such an honest and loyal person," she told Us Weekly at the time. "I feel like we were meant to be, and I'm happy to have found someone to spend the rest of my life with. He's amazing in every way."

Latsis gave the 24-year-old hotel heiress a 24 carat, $5 million (Ђ4.15 million) diamond engagement ring. It was not immediately clear what would happen to the ring, AP reported.