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Penelope Cruz - Oscars 2012 Red Carpet

Penelope Cruz - Oscars 2012 Red Carpet

Penelope Cruz looks stunning on the red carpet at the 2012 Oscars held at the Hollywood & Highland Center on Sunday (February 26) in Hollywood.

The 37-year-old Spanish actress, who is serving as one of many celebrity presenters at tonight’s ceremony, chose a custom Giorgio Armani organza evening gown with off-the-shoulder straps and a fitted bodice.

PHOTOS: Check out the latest pics of Penelope Cruz

FYI: Penelope sparkled in Chopard jewelry at the Academy Awards.

Billy Crystal hosts the 2012 Oscars live TONIGHT at 8:30 p.m. ET/5:30 p.m. PT on ABC!

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