The July 8 event will see 80 contestants participate in the formal gown and bathing suit competitions, from which only 15 semi-finalists will be chosen.

The esteemed panel of judges for the finale are: Australian Jennifer Hawkins, the winner of the 2004 Miss Universe; Donald John Trump, the Trump Organisation’s executive vice president and scion of the famed real estate developer Donald Trump; Roberto Cavalli, the internationally acclaimed Italian fashion designer; Louis Licari, one of the world’s foremost hair experts and Nadine Velasquez, one of the hottest actresses and models in the US.

The celebrity packed jury will decide the ultimate fate of the semi finalists on July 14 in a televised event to be broadcast live on the American TV channel NBC.

Meanwhile, the judging panel for the preliminary event boasts eight members: Rosalina Tran Lydster, Adel Chabbi, Leigh Rossini, Dean Mcfliker, Dave Tomberlin, Fred Howard, Thuy Tran, and Nguyen Cong Khe.

While Lydster is the celebrated Vietnamese expatriate jewellery-designer who co-designed the new Miss Universe Crown, Chabbi is the well-known French-born hairdresser.

Rossini, the board’s third judge, is a New Yorker and the first in-house publicist of Louis Licari Colour Group. Mcfliker is the NBC primetime special project’s vice president. Tomberlin is the senior vice president of media relations at Interscope, A and M and Geffen Records while both Howard and Tran are internationally famed stylists.

Howard is known to have worked with some of the world’s most recognised models like Natalia Vodianova, Adrana Lima and Karolina Kurkova whereas Tran is a representative of the Michele Filomeno agency in New York and Paris.

Nguyen Cong Khe, Thanh Nien newspaper’s editor-in-chief, is last, but certainly not least, on the preliminary judging panel.

The Miss Universe Organisation also announced the prizes for the following categories: Miss Universe 2008 will receive a US$30,000 exquisite tiara created by CAO Fine Jewellery, a year-long salary, casting opportunities and professional representation by the Miss Universe Organisation as well as extensive travel opportunities with a personal travel manager, representing sponsors and charitable partners along with many others.

The first runner-up will be awarded a US$3,000 cash prize, the second runner-up a US$2,000 cash award, and the third and fourth runners-up will both receive a US$1,000 cash award. The remaining 10 semi-finalists will receive a US$500 cash award. All women will receive a crystal trophy from Rogaska.

All the 80 contestants will be asked to vote for the Miss Congeniality Universe Award, winner who will receive a US$1,000 cash prize.

Viewers can also participate in the event by voting for their favourite contestant in the National Costume Award by logging on the website www.nbc.com and casting their vote online. The winner for the best national costume will also receive a US$1,000 cash prize and a Rogaska crystal trophy.