SAARBRUECKEN, Germany (Reuters) - A German stage musical portraying the life and death of Diana, Princess of Wales, will premiere on Saturday with little prospect that the British royal family will ever see it.

"Lady Diana -- A Smile Enchants the World,'' is a no-holds-barred tale of her life, beginning and ending with the August 1997 car crash that killed her and containing scenes that deal with her bulimia, the eating disorder she suffered.

The German-language musical, the world's first such show based on Diana's life, also covers her gradual estrangement from heir-to-the-throne Prince Charles.

A spokeswoman for Buckingham Palace said members of the royal family were "highly unlikely'' to go and see it.

Producer Karl-Heinz Stracke, who plans to take the show on tour around Germany, Austria and Switzerland, said lawyers had advised him to avoid portraying living members of Britain's royal family.

But Charles is shown twice, albeit with his back turned to the audience.

Queen Elizabeth was also due to appear in the scene portraying Diana's funeral, but that was dropped during rehearsals, a spokeswoman for the musical's PR firm said.

Stracke is hoping to take the show to Britain in three or four years' time.

The musical cost about $900,000 to produce.

Karen Gillingham, the British actress, plays the title role.

"I think it's a great privilege and an honor -- and a challenge,'' Gillingham told Reuters Television on the sidelines of a rehearsal this week.

But Gillingham, who sings in German, has reservations about taking the show to Britain.

"Coming from England and growing up in England, for me it might be a bit too close to actually go and do this production in London,'' she said.

Gillingham said she overcame initial anxiety about playing the role after reading the script.

"It's an interesting story for lots of people,'' she added. ''Everyone is interested in Diana.''

"I don't have a problem with playing the part personally, because I think it deals with her in a really respectful way,'' Gillingham said.