Ashley Olsen... SMILING!

Looking genuinely happy, Ashley Olsen flashes a rare smile before hopping into her Mercedes SUV in Los Angeles on Thursday.

After noticing paparazzi, Ash quickly covered her face and bolted for her car.

FYI: Ashley and twin sister Mary-Kate started their second fashion line called Elizabeth & James, named after their siblings. Their first high-fashion couture line was called The Row.

The Elizabeth and James Spring/Summer 2008 collection can be found at Ron Herman, Saks Fifth Avenue, and Holt Renfrew (Canada) outlets.