Actress Naomi Watts got the coveted role of Princess Diana for a film that will recount the final two years of her life.

The Oscar-nominated Australian actress will portray the role of Princess Di in the biopic "Caught In Flight." Her alleged romance with heart surgeon Hasnat Khan and businessman Dodi Fayed will be featured as well and other memorable events of her last years.

The 43-year-old actress beat Jessica Chastain which was also vying for the role. Keira Knightley was also said to be in the running to play Princess Diana in the movie which will be made by Eccosse Film.

"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 said in an interview.

The movie will be directed by German director Oliver Hirschbiegel with a screenplay by "The Libertine" playwright Stephen Jeffreys. The production will start filming in the UK next year. According to Eccosse films, the movie will show how the princess found her true happiness and success through her humanitarian and social achievements.

Watts, also famous for her role in "King Kong," is currently in Australia to film a drama entitled "The Grandmothers" with Robin Wright. She also recently starred in the movie "J. Edgar" with Leonardo DiCaprio.

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