NEWS LITE : THE TERMINATOR AS AUSTRIAN PREZ?

Arnold Schwarzenegger, who can't run for president because he's not American-born, just might end up president of Austria. The action-hero in-law of the Kennedy clan, married to Maria Shriver and blessed with four children, has dual citizenship. Though he lives in California, he gets home a lot, and he's way popular there. His mother's longtime companion, Alfred Gerstal, presides over the upper house of the Austrian parliament.

``The guy has ambitions. There is no doubt about it. And I think he has a better chance of getting elected president of Austria than he does governor of California,'' said Austrian diplomat Hans Janitschek.

Fire injuries delay Aerosmith dates

Aerosmith postponed the first 13 dates of its 50-date U.S. tour while drummer Joey Kramer recuperates from minor burns he received when his car caught fire at a gas station last week.

The rock band was scheduled to tour from Aug. 14 to Dec. 9 in cycles of six weeks on and two weeks off. Manager Wendy Laister said the dates will be rescheduled for days previously planned as breaks. Some venues will change.

Kramer's left arm and leg were burned when his Ferrari caught fire at a station in Scituate, Mass. The gas tank hose apparently had a leak, and the heat from the car ignited the fuel, authorities said.

Unique offerings at celebrity auction

A song from Carly Simon and a sail on Walter Cronkite's yacht are among the celebrity services for sale next month at an auction to benefit Martha's Vineyard.

The ``Possible Dreams'' auction will be held Aug. 3. It raises money for community services on the tony island.

Along with the serenade from Simon and afternoon cruise with Cronkite, island visitor and violinist Isaac Stern has donated a private luncheon, followed by a private tour of Carnegie Hall.

What else is on the auction block?

An appearance in the comic book ``Archie,'' offered up by Vineyard resident and cartoonist Stan Goldberg. The successful bidder will become a character for at least one issue.

`Seinfeld' alums will publish tome

The four cast members of ``Seinfeld'' have regrouped for an encore of sorts.

HarperCollins announced this week that it would publish ``SeinOff,'' a book about the making of the show's final episode that will be written by Jerry Seinfeld, Jason Alexander, Julia Louis-Dreyfus and Michael Richards.

The keepsake, scheduled to go on sale Oct. 20, will contain more than 150 unpublished photos from the set of ``Seinfeld.'' The photos were taken at season's end by David Hume Kennerly.

Leo can expect titanic beating

Most people think Sharon Stone could take Leonardo DiCaprio if the two were forced into a down-and-dirty street fight. Zogby's Celebrity World, or whoever it is that complies its trivia is, claims it interviewed 1,206 people and 56.2 percent picked Sharon while 16.2 percent gave Leonardo the nod.

And on what street would they fight, Rodeo Drive?

Art exhibit shows royal collection

Among the items to be shown in an unprecedented exhibition of art collected by several princes of Wales is a portrait Diana, Princess of Wales.

So, too, is a sketch of the Spice Girls.

From the poetic to the prosaic, more than 300 paintings, drawings and other artworks and crafts collected by Charles, the current Prince of Wales, and four of his predecessors fill several rooms at the National Museum of Wales in Cardiff.

Until now, only members of the royal family and their servants had seen all of the works to be shown in the ``Princes as Patrons'' exhibition on public view Saturday through Nov. 8.

``Works from the royal collection are always on view somewhere at home and abroad, but this is the first time the collections of the princes of Wales have been selected for display,'' said Dickie Arbiter, director of media affairs at Buckingham Palace, speaking at a preview Thursday.

Prince Charles was expected to open the exhibition Friday night.

The collection includes drawings of the Tudor court by Hans Holbein, paintings by Rembrandt and van Dyck, and a Sevres porcelain service made for the guillotined King Louis XVI of France.

- News Lite is compiled from Daily News staff and wire reports.

CAPTION(S):

2 Photos

PHOTO (1) Minisub magnifique

An unidentified member of the Canadian Omer 3 crew signals after the one-man submarine was lowered into the water off Scripps Pier in La Jolla, Calif., Friday, the first day of the World Submarine Invitational. The subs work like underwater paddle boats in reverse - the pilot lies on his stomach, steering in front and pedaling in back. When submerged, the subs fill with water, and the pilots rely on scuba diving equipment and air tanks.

Denis Poroy/Associated Press

(2) KRAMER