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Demi Moore is back in the spotlight!

Ashton Kutcher's 49-year-old ex, who left rehab back in January and has since been laying low, has finally surfaced for the launch of "The Conversation" ... a Lifetime show she's co-producing that involves candid one-on-one interviews with female stars.

Moore is all smiles while posing alongside Kelly Preston and show host Amanda de Cadenet.

"The Conversation" will feature interviews with Gwyneth Paltrow, Lady Gaga and Jane Fonda ... just to name a few.

The Lifetime series premieres next month.