One of Hollywood's young couples, Katie Holmes and Chris Klein, has called off their engagement, according to Us Weekly.

A spokesperson for Holmes tells the publication that they decided to go their separate ways about two weeks ago, but "want to stay friends and will continue that part of their relationship." The popular actors announced their engagement in December of 2003, after nearly five years of dating. Holmes is perhaps best known by audiences for her role as Joey Potter on TV's "Dawson's Creek." Klein gained recognition with movies like 'American Pie' and 'Election.'

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