Angelina Jolie is set to become the highest paid actress-turned-model when she named the new face of Californian fashion label St John.

Jolie has reportedly been offered a $12 million contract which will also see her take on a stake in the fashion house and become a director.

The 30-year-old will replace Leonardo Dicaprio's on-off lover Gisele Bundchen as the face of St John who appears photographed by celebrity snapper Mario Testino in the label's autumn/winter collection. Jolie's anticipated deal could have a huge impact on future advertisement deals struck by actresses - Gwyneth Paltrow and Elizabeth Hurley were paid $5.4 million to represent Estee Lauder, while Nicole Kidman received $5 million to be the face of Chanel.

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