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Royal Princess is Named Charlotte Elizabeth Diana

| May 04, 2015 10:54 AM EDT

Her Royal Highness Princess Charlotte of Cambridge

The fairy tale princess born May 2 has been named Charlotte Elizabeth Diana.

"The Duke and Duchess of Cambridge are delighted to announce that they have named their daughter Charlotte Elizabeth Diana", said Kensington Palace in a short statement today, May 4.

"The baby will be known as Her Royal Highness Princess Charlotte of Cambridge."

Princess Charlotte, the second child and first daughter of the Duke and Duchess of Cambridge, was born May 2 at 8.34 a.m., London time, weighing 8 lbs 3 oz.

She is the first princess born to the Royal Family since Anne, Princess Royal, was born on August 15, 1950. She is also the Queen's fifth great-grandchild.

Princess Charlotte is fourth in line to the throne after her grandfather, Charles, Prince of Wales; her father, Prince William, Duke of Cambridge and her older brother, Prince George of Cambridge (George Alexander Louis) born July 22, 2013.

Experts said the name Charlotte is likely a tribute to William's father, the Prince of Wales, as it is the feminine form of the name Charles.

The middle names of the princess are apparently in honor of her great grandmother, Queen Elizabeth II, and her grandmother, Diana, Princess of Wales, said The Guardian.

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