Anne Hathaway and fiance Adam Shulman visited with some friends in LA yesterday -- perhaps to show off Anne's engagement ring?!

Hathaway, 29, and Shulman, 30, were engaged in November when Adam presented the $150,000-stunner to his actress wife. The two began dating in 2008 after Hathaway's split from Raffaello Follieri, a financier who was sentenced to four 1/2 years in prison for money laundering and conspiracy.

Of her new, "mellow" relationship, Anne says: "Mellow doesn't always make for a good story, but it makes for a good life," she said.