We have a very important update for you this morning. KATE UPTON does NOT hate her bounteous, all-natural breasts. It turns out she was a victim of the not-always-reliable British tabloids just MAKING THINGS UP . . . which happens from time to time.

She cleared the air on an Australian radio station, saying, quote, "I actually didn't ever say that. Yeah, no, I never said that." She added, quote, "I love my body. I always feel incredibly grateful for what I have, but there's times when all women don't feel their best."

Listen here as Leo & Rebecca talk about it>>

Frazer Harrison, Getty Images