Understated glamour was key at the Oscars this year.

Actresses such as Angelina Jolie, Kate Winslet and Sean Penn went with black at Sunday's Academy Awards, while Penelope Cruz, Evan Rachel Wood and Jessica Biel all wore variations of white. However, there were some bright sparks on the red carpet too.

Heidi Klum drew attention with her slit-high red-silk taffeta Roland Mouret gown, and Natalie Portman was a lovely sight in a pale lavender silk strapless dress by Kate and Laura Mulleavy.

Jewels played a big part too, as Kate Winslet chanelled retro in her swept-back hair do and diamond earrings while actress Amy Adams was adorned with a chunky Leighton collared necklace - a coloured gemstone and diamond bib from the 1950s.

And of course, it won't do without the fashion houses plugging away at publicity for their sponsored clothes and jewellery. New York Times reported that Giorgio Armani had already sent out press releases describing Anne Hathaway's champagne silk dress and Alicia Key's lavender gown.

Even if the world is in a recession right now, fantasy still abounded at Hollywood's most spotlighted event.