Penelope Cruz: Academy Awards 2012 [PHOTOS]

37-year-old Penelope Cruz graced the red carpet at the Oscars which was held at the Hollywood & Highland Center on Sunday (February 26th). The brunette beauty wore a unique gray blue Giorgio Armani gown paired with stunning Chopard jewelry. It isn’t as bold as other dresses we’ve seen this evening, but still made quite a statement.

Penelope was a presenter at this year’s Academy Awards. In the past, Cruz has been nominated for Best Actress for the films Nine in 2009 and Volver in 2006. She won the Oscar for Best Actress for her role in Vicky Cristina Barcelona in 2008.

All of our coverage for the 2012 Academy Awards is here!