Jerry Hall: Out on the town without Mick Jagger

She was greeted by an audience that included Jerry Hall, Malcolm McDowell, Greta Scacchi, Ben Affleck, Colin Firth, Lord Puttnam and Linda Fiorentino.

With tickets to the dinner and auction costing a hefty �1,500 per person, and lots for sale including diamond jewellery and special tennis lessons from stars Chris Evert and John McEnroe, the evening raised a total of $470,500 (�300,000) for Aids research.

A power cut during the party interrupted Elizabeth Taylor's speech - but she carried on regardless with a torch and reading glasses.

The Hollywood legend even shushed over-enthusiastic party-goers who continued chatting while she was talking.

Elizabeth Taylor: Hushed noisy guests

"Could you shush up out there? I can't hear myself think and that's really bad," she said.

The event also saw Hollywood stars Salma Hayek and Ben Affleck dancing the night away.

The Mexican star offered salsa lessons as one of the lots at the charity benefit.

Also up for auction at the party was a lilac dress once worn by Diana, Princess of Wales. Modelled by Elle Macpherson, it was sold for just over �40,000.

Competition and screenings continue

Ben Affleck: Plays a fallen angel in Dogma with Matt Damon

Meanwhile the festival continues in Cannes with a screening of Ben Affleck's and Matt Damon's latest movie Dogma, in which they play two fallen angels intent on destroying human life so they can return to paradise.

Twin Peaks' creator David Lynch's The Straight Story is also likely to attract attention. It is based on the real life story of Alvin Straight, 73, who crossed hundreds of miles on a large riding lawnmower to visit his sick brother.

Peter Greenaway, the UK director who made The Pillow Book and The Cook, The Thief, His Wife and Her Lover - will launch Eight And A Half Women on Saturday.