Paris Hilton calls off engagement

Paris Hilton declares she finished her five-month engagement to a Greek shipping heir because "she's not prepared for marriage" and didn't wish it to end up in divorce.

The 24-year-old Paris Hilton broke off marriage plans with Paris Latsis, 22, as she didn't desire to dash into marriage too speedily.

"I have seen the break-ups between people who love each other and rush into getting married too quickly," Hilton said in a statement released to The Associated Press. "I do not want to make that mistake."

The couple became engaged in the northern spring and Latsis gave the hotel heiress a 24-carat, $US5 million diamond engagement ring.

Hilton said she still loved Latsis and the pair would continue to work together on business endeavors and have "movies together in the works."

"I'm still young and still have a very active career that I'm not prepared to give up," she said.

"I have worked very hard to get to where I am. Paris is a great guy and we will handle this with dignity and respect."