This is a rush transcript from "On the Record ," February 8, 2008. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, HOST: Well, our next guest certainly doesn't require a very long introduction. At 26-years-old she is very successful in business. She has made millions in business, and she is an actress.

She is starring in the new movie "The Hottie and the Nottie." Take a look.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Look at you. You are out of my league. You are in Johannes' league, and I can't compete with that.

PARIS HILTON, ACTRESS: You didn't have to compete. I was with you. I really liked you, Nate. I thought you were different.

(END VIDEO CLIP)

VAN SUSTEREN: Joining us is the star of that movie, Paris Hilton. It's nice to see you, Paris.

HILTON: Hey, Greta, how are you?

VAN SUSTEREN: I'm very well. So, how exciting is it to have this new movie out.

HILTON: I'm so excited. It opens tonight, and so I'm really excited for it. It's such a cute film.

VAN SUSTEREN: I don't want you to give it away, but I was you to tease it for the viewers so they know. What is this movie about? I've read about it, so I know a little bit, but I don't want to give it away for the viewers.

HILTON: It's called "The Hottie and the Nottie." It's basically about these two best friends who have been best friends their whole life. And there is this boy from our school who comes to look for me 20 years later. But I won't date anyone until I can find someone for my girlfriend Anna.

No one really wants to date her because she is a little bit scary looking.

VAN SUSTEREN: What was it about the script when you saw it that first attracted you? Why did you think it would be a good role for you?

HILTON: I just thought it was a really sweet movie. I really loved the movie "There's Something about Mary," and it reminded me of that. And I love comedies, and I really like the character. I thought the movie has a great message, and it was just a really unique project.

VAN SUSTEREN: When did you start filming this?

HILTON: We actually shot this last year in Malibu and Santa Monica.

VAN SUSTEREN: Is it hard work for you to do this or was this fun?

HILTON: It was so much fun. I was also the Executive Producer on the film. So it was great to make my own choices, my own decisions, and just really be in charge. I'm really proud of this film.

VAN SUSTEREN: It has hit the big screen, but you have got a lot going on in your life, and I have a lot of topics I want to talk to you about it. One is Harvard—you have been there recently.

HILTON: Pardon? I couldn't hear you, sorry.

VAN SUSTEREN: You have been to Harvard recently.

HILTON: I just got back from Harvard last night.

VAN SUSTEREN: What was it like at Harvard and why were you there?

HILTON: It was really an honor. The "Harvard Lampoon" gave me an award for woman of the year. And we did this whole secret initiation, and they gave me a key to the Lampoon castle, and it was really an honor.

Winston Churchill got the award. Conan O'Brien used to be one of the presidents of the Lampoon. So it was cool to be doing something like that. It was really fun.

VAN SUSTEREN: You say it's a secret initiation. Does that mean you can't tell us now, or does that mean you didn't know what it was before did you it?

HILTON: No. Actually, everyone in the Lampoon told me it's a secret initiation and I can't tell anyone what happened, but it reminded me of something out of one of those college movies. It was really surreal. It was something I will never forget. It was an amazing experience.

VAN SUSTEREN: How did you like the Harvard students? Were they nice to you?

HILTON: So nice. The guys and the girls were so sweet, so polite, and so welcoming. I had the most fantastic time. I really cannot wait to go back.

VAN SUSTEREN: Do you intend to go back soon?

HILTON: Actually I do plan on going back. I have made so many friends there. And they have invited me back, so I will probably go in the next couple of weeks just for fun.

VAN SUSTEREN: Here is something that is so extraordinary. At age 26 you have an incredibly successful business history already. What are the different businesses you have had?

HILTON: Well, I have my own fragrances, my clothing line. I just launched my shoe line; purses, watches. I do books. I do movies. I do music. I have the dog clothesline. I have my own drink.

I might be forgetting some things, but, yes, it's been a pretty incredible couple of years.

VAN SUSTEREN: What's your work day like? What time do you usually get up and what time do you finally call it a day?

HILTON: Every day is completely different. I'm always traveling, so I could be in Japan one day, I could be in Australia. I have board meetings.

When you are running a company like this you have to really be on top of everything. I have to do approvals. I have to have meetings literally every week with all my people.

So I'm having the time of my life, though. I'm really enjoying it.

VAN SUSTEREN: I'm going to talk to you in a second about the shoes, but I'm sort of curious: if you had to pick one—acting, fragrances, shoes, your purse line—which one are you going to pick to do? If you can only do one?

HILTON: If I could only do one—it's a hard choice, but I think just being a business woman, because that's what I really enjoy—I enjoy being a brand and I enjoy doing the business side, and this is something that I want to do forever. So I would probably pick that out of everything.

VAN SUSTEREN: Paris, stand by, because we have much more. And, in fact, I want to ask you about your shoe line, because you just launched one today. So stay right there, Paris. We'll be right back.

And, later, a four-year-old girl on a playground in broad daylight, her orthodontist father is gunned down right before her eyes. And tonight there is a big break. We're going to tell you.

(NEWSBREAK)

VAN SUSTEREN: We are back with more of Paris Hilton. And, Paris, I have got to admit, I have never seen someone at 26 who has so many businesses and so many things going on.

I want to talk about this shoe line. Now, tell me about your involvement. Are you designing the shoes, or are you just putting your name on it? What are you doing with the shoe line?

HILTON: I have everything to do with it. We have been developing it the past year, and we just launched today at Macy's. I'm actually here right now.

And it's really exciting. I love shoes just like every girl does. But I wanted to make a line which is more affordable and still the high fashion. And the shoes—we sold out right away, and everyone literally loved them.

So it's been really successful.

VAN SUSTEREN: How many different styles do you have in this shoe line, at least right now?

HILTON: Every season we do 25 shoes, and it's anywhere from flats to sandals to high heels, really cute stilettos. They are really comfortable. They're priced from $59 to $195, so they are really affordable.

And they are just really, really cute shoes. I'm wearing them right now.

VAN SUSTEREN: Maybe you can take one off and hold it up for us. But, anyway, the shoe design: do you actually look at the designs and do a pass on them, or do you delegate that to somebody else?

HILTON: Well, the designers come in once a month and they bring me different styles, different heels, different patterns and colors and swatches, and we sit down for a couple hours and go over everything, because everything that I wear I want to make sure I'm going to actually wear, because I think a lot of celebrities that have lines don't ever wear their stuff, but I always do.

I designed this dress as well.

VAN SUSTEREN: You designed that dress?

HILTON: Yes.

VAN SUSTEREN: Do you have other dresses you have designed?

HILTON: Yes. I have an entire line with Doll House: sports wear; we do jeans, dresses, really cute t-shirts.

VAN SUSTEREN: I think, Paris, a lot of people really don't know about the extent of your business life. I mean a lot of people would be surprised tonight. They hear a lot of things about Paris Hilton, but they don't know how deeply involved you are in business at age 26.

HILTON: Thank you. People, when they want to talk about something else, they will talk about things that don't really mean anything. I really care about my business, but the media doesn't like to focus on things like that.

VAN SUSTEREN: You have hair extensions—that's another part of your business, right?

HILTON: Yes. I have hair extensions called "Dream Catchers." We just did a whole deal with Sally's, and really, really great hair, best quality, no damage.

VAN SUSTEREN: Is there any business that you want to do that is sort of like next on the horizon that you just haven't done?

HILTON: Well, for now, I'm doing really everything I love. I love fashion. I'm doing a lot of fun things like that. But, when I get older, I would like to get more involved in real estate, opening my own hotels, restaurants, and night clubs, stores.

VAN SUSTEREN: Well, the hotels may be sort of a genetic thing with you.

HILTON: Yes, runs in my family.

VAN SUSTEREN: A little bit.

Now, I want to talk about your birthday is coming up. When is your birthday?

HILTON: My birthday is on February 17th. Tomorrow I'm having a party, an '80s theme party, and then I will go to Las Vegas and have a couple birthdays out there over at LAX and Pure.

VAN SUSTEREN: What's an '80s theme party?

HILTON: The theme is "dress you up in my love" like Madonna's song, so everyone is going to wear '80s outfits. It will be fun.

VAN SUSTEREN: Next week you go to Vegas for this party?

HILTON: Yes. I will be in Vegas this Tuesday. I will be there for like eight days because Magic is going on, and we are launching the new collection of my clothes and shoes and purses. So I will be out there working.

And also rehearsing with my friend Robin Anton(ph) because we are doing the Pussy Cat Dolls show. So I'm performing with them this Saturday.

VAN SUSTEREN: Can you go around L.A. without the paparazzi chasing you?

HILTON: No. Literally from the moment I leave my house every morning until I go to bed, they're literally on my tail following all day.

VAN SUSTEREN: Now, I suppose that's annoying in some ways, but it also, I imagine, somehow, helps promote you in business. Is that right or wrong?

HILTON: It is annoying. I think there is a time and place for it. It should be at red carpet events and premiers and things like that. That's fine. But everyday life it does get annoying.

But, you know, I wear my clothes out, I wear my shoes out, and I guess it works for both of us.

VAN SUSTEREN: So is it fun to be Paris Hilton?

HILTON: Pardon?

VAN SUSTEREN: Is it fun to be Paris Hilton?

HILTON: You know, I'm having the time of my life. I feel like you only live once, and I am really enjoying my life. I am doing everything I want. I have never been happier. I have my friends and my family who love me so much, and I love them. And life has just never been better. I really just feel complete right now.

VAN SUSTEREN: I think when you dig a little deeper on you Paris, beyond some the tabloid stories, it's a remarkable career. It's someone who is almost 27, a remarkable business career. And I wish you the best of luck, and look forward to seeing your new movie, Paris. Thank you.

HILTON: Thank you. I look forward to coming in and seeing you one day.

VAN SUSTEREN: All right. Good.

HILTON: It's fun to talk to you.

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