Britney Graces Cosmo ... Five Years Too Late

11/5/2008 5:30 AM PST
Britney Spears looks amazing on the December cover of Australian Cosmo -- only problem...the picture is five years old!

These pre 5150/ K-Fed pics were taken by James White for a cover story that ran in Esquire Magazine back in 2003.

Cosmo clearly wants more Brit for the buck.