Paul McCartney Engaged!

People.com was the first to report that Paul McCartney is engaged to his girlfriend of 4 years Nancy Shevell. McCartney's publicist Stuart Bell confirmed the story.

According to sources, Sir Paul is planning a low key wedding some time this Summer in East Hampton. And according to some sources there is once again no prenuptial agreement.

That might sound a bit foolish after McCartney's expensive split with previous wife Heather Mills, which cost him approximately $48 million. But in this case, Ms. Shevell has her own money. Her family is quite wealthy in fact, and she serves as vice president of the family business, New England Motor Freight.

This will be McCartney's third trip to the altar after a 29 year marriage to Linda, who died of cancer in 1997....and that expensive 4-year run with Heather Mills. For Shevell, it's marriage number two. She was previously married to Nassau County lawyer Bruce A. Blakeman.

A couple of other tidbits. Nancy Shevell, 51,  is a cousin of Barbara Walters. And the engagement ring? McCartney is said to have spent a mere $650,000 on that little bauble. More on the story at my source People.com .