E!'s Giuliana Rancic: How Oscar night made her 'embrace' Ryan Seacrest's ashen fashion

guiliana-rancic-style-network-gallery-season-4-420.jpg Giuliana Rancic remembers Oscar night like it was yesterday, thanks to the look Ryan Seacrest didn't expect to sport.

"I thought it was very funny," the weeknight "E! News" co-anchor tells Zap2it of Seacrest's ultimately ash-covered February encounter with Sacha Baron Cohen, the star of the upcoming movie "The Dictator" who emptied an urn's contents on Seacrest's tuxedo on live television.

"Instead of trying to ignore it and cut away from it with a 'We'll be right back,' I mean, come on," says spirited E! veteran Rancic. "Instead, I remember yelling at Ryan, 'This is so amazing! You're going to be trending worldwide!' I'll never forget watching the playback and telling him, 'You're the chosen one. Do you realize how lucky you are?' Then it cut to Ryan, brushing all these ashes off and saying, 'Is this the vision of luck?'"

An admitted fan of Cohen, Rancic adds, "I have a big sense of humor when it comes to what I'm reporting on. When it comes to entertainment, we have to have some fun with it, and I think that was a really fun moment."

Seacrest was noticeably absent from E!'s "Live From the Red Carpet" coverage for a quite a few minutes afterward, getting re-clothed, and Rancic and company filled the time with a wealth of commentary on the evening's other celebrity fashions. To her thinking, that was perfectly in line with what E! viewers would anticipate.

"We've tested these shows," she notes, "and people love the celebrity interviews, but they really love the fashions, so we give them what they want. I always say that in all the meetings before the award shows: 'Guys, don't forget, we have to drive home that we're the place to come for fashion.' That's where I come in, and I love breaking it down for the audience."

Along with husband Bill Rancic -- the first winner of NBC's "The Apprentice" -- Rancic begins Season 5 of the Style reality series "Giuliana & Bill" Tuesday, April 3. As might be expected, the first episode deals heavily with the breast-cancer diagnosis given to Giuliana last fall, but the season also involves such other matters as the planning and opening of the couple's new Chicago restaurant RPM.

As she continues to be treated for her health, Rancic is glad for the outlet her daily work provides. "I don't take this too seriously," she reflects. "We're reporting on entertainment, so when a moment like [Ryan's forced clothing malfunction] happens on the red carpet, I embrace it."
Photo/Video credit: E! Entertainment Television