Penelope Ann Miller: 2012 Oscars Badgley Mischka Marvelous

Among the first stars to hit the red carpet, Penelope Ann Miller glammed up the 84th Annual Academy Awards in Los Angeles on Sunday (February 26).

The 48-year-old "Carlito's Way" actress looked dashing in a nude Badgley Mischka gown as she geared up for the swanky ceremony held at the Kodak Theatre at Hollywood & Highland Center.

Making for quite the star-studded affair, celebrity presenters hitting the stage include Angelina Jolie, Tom Cruise, Natalie Portman, Jennifer Lopez and Cameron Diaz.

The Academy Awards are being hosted by Anne Hathaway and James Franco while airing live on ABC with the red carpet coverage kicking off at 7e/4p.

Meanwhile, top nominees this year include "The Artist" with 11 nominations followed by "Hugo" with 10 bids for Oscar glory.