Cate Blanchett and Mia Wasikowska are set to star in Carol, an adaptation of Patricia Highsmith's novel "The Price of Salt.

John Crowley will direct the adapted screenplay by Phyllis Nagy.

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Carol is a love story about pursuit, betrayal and passion that follows the burgeoning relationship between two very different women in 1950s New York. One, a girl in her twenties working in a department store who dreams of a more fulfilling life, and the other, a wife trapped in a loveless, moneyed marriage desperate to break free but fearful of losing her daughter in the process.

Elizabeth Karlsen and Stephen Woolley are producing for Number 9 Films. They had this to say.

""We are thrilled to be working with Cate Blanchett and Mia Wasikowska, two of the most talented actors working today, in this striking adaptation of one of the twentieth century's most iconic writers, Patricia Highsmith. To be re-united with highly talented individuals, director John Crowley and writer Phyllis Nagy is a testament to the quality of the project. We are delighted to have such a gifted team on board."

Carol begins principle photography in February of 2013, shooting in London and New York.