It is the best armor available in the game (for Knights), because it gives +3 shielding and reduces Physical Damage by 5%. This item was implemented in the Summer Update 2010.
In the Test Server, this armor gave +450 hitpoints but due to a bug, players who wore this armor couldn't die as their health would not go below 450. As a result of this, CipSoft removed the extra bonus from this armor.
Click Here to Show/Hide Spoiler Information
Spoiler warning:Quest and/or game spoiling details follow.