NEW PIC: Angelina Jolie Smiles, Flashes Huge Engagement Ring in L.A.

Angelina Jolie leaving the Roosevelt Hotel in Hollywood, CA on April 16, 2012. Credit: FameFlynet

Does that thing come with its own security team?

Angelina Jolie was all smiles when she stepped out in Los Angeles Tuesday while flashing her latest accessory -- her giant engagement ring from Brad Pitt!

The newly engaged star proudly showed off the giant platinum sparkler, which jewelry expert Michael O'Connor estimates is worth $500,000 and has a total weight of 16 carats with a center stone of 7 carats.

Carrying her new spring bag -- a beige YSL Chic Cabas tote that retails for $2,400 -- the 36-year-old mom of six chose a tight grey dress that hugged her skinny, gaunt frame.

In addition to her engagement to long-time love, Jolie has plenty to beam about lately. On Tuesday, it was announced that the philanthropic star was promoted to the diplomat-level position after serving for over ten years as goodwill ambassador to the UNHCR, according to E! News.

"In her new role, she is expected to focus on large-scale crises resulting in the mass displacement of people," UNHCR spokesman Adrian Edwards explained at a press conference in Geneva. "I don't think you need a rocket scientist to see the benefits that she is bringing in terms of the attention that she is getting for the plight of the world's displaced."