The actress Elizabeth Taylor has been hospitalized but was expected to return home soon, according to a statement released by her publicist on Thursday.

The 76-year-old Oscar-winning actress and anti-AIDS activist was reported to be recovering from undisclosed medical problems.

"Ms Taylor is fine," said the statement from her publicist. "Her hospital visit was precautionary. She will be returning home shortly. At present, she is surrounded by family, friends and fabulous jewels."

"Ms. Taylor is fine. The rumors which began in England about her health are dramatic, overstated and untrue. Her hospital visit was precautionary,” he added

The rumors were started by National Enquirer magazine, which reported the health issue based on anonymous reports. "The doctors thought they were going to lose her. She's still very sick, but she's past the crisis," the source said.

Elizabeth Taylor is said to have been admitted to a medical centre on July 15 after being diagnosed with pneumonia.

Elizabeth Taylor has been dogged by a number of health problems, including congestive heart failure, spinal fractures and the effects of scoliosis.

She also suffers from diabetes and is confined to a wheelchair because of her severe osteoporosis.

In 2006 Elizabeth Taylor dismissed rumours she had Alzheimer's on Larry King Live. The legendary screen actress lives in the swank southern California suburb of Bel Air.