raid the bank accounts of her wealthy Hollywood lover Michael Douglas when the couple marry later this year, according to Britain's Sun tabloid newspaper.

Under the headline "Zeta's cash pledge,'' the paper yesterday claimed that lawyers for the couple have been working for weeks on a pre-nuptial agreement for Douglas and Zeta-Jones, who annouced their engagement on the Internet on Thursday.

"Catherine has money she has earned from films but it pales into insignificance compared to Michael's,'' it quoted an unidentified source as saying.

The chisel-jawed Douglas, 55, revealed on his website that he proposed to Zeta-Jones, who is 25 years his junior, on New Year's Eve at his house in the exclusive ski resort of Aspen in Colorado.

British newspaper estimates of the value of the engagement ring -- a 1920s ten-carat diamond surrounded by 28 smaller stones -- ranged from $820,000 to $3.3 million.

The Sun said Douglas asked for the pre-nuptial agreement deal after paying his ex-wife Diandra, whom he married 22 years ago, a 44 million divorce settlement.

"He bears no animosity (towards Diandra) and she got a good deal,'' the Sun quoted its source as saying. "He was keen to get the details finalised so it left him free to marry Catherine.'' Other British tabloids took up the issue of where the couple might wed, with most betting on Wales.

"Catherine has always said she wanted to wed at Clyne Chapel,'' the Daily Express quoted one friend as saying.

The chapel, which seats around 200 people, is set on the coast near Zeta-Jones' home village of Mumbles in south Wales.

And Bermuda could also be a destination for the all star wedding. The couple holidayed here during the Christmas holiday.

The most likely wedding date is thought be the couple's shared birthday -- September 25. They shared his 55th and her 30th last year with a celebrity bash at a New York nightclub.

Douglas, the son of actor Kirk Douglas and star of films such as `Basic Instinct', `Falling Down' and `The American President', met Zeta-Jones at the Deauville Film Festival in France in 1998. The two have been dating since last March.

Zeta-Jones, who rose to fame in Britain in the television drama `The Darling Buds of May', starred opposite Antonio Banderas in `The Mask of Zorro' and with Sean Connery in the action thriller `Entrapment'.

Financial agreement: Welsh actess Catherine Zeta-Jones and her fiance Michael Douglas WEDDING ANN