For every level in which a character wears the Ring of Defense, he gains a +1 bonus to his armor class. The bonus comes from an energy field that takes some time to adjust to each wearer. The energy field has the potential to stop missile and melee attacks against the wearer (thus the bonuses to AC). As the character wears the ring for longer and longer periods of time, the ring's energy field grows stronger and stronger, eventually giving the wearer a nearly impenatrable, invisible energy field.
For example, a character finding the ring at 7th level, would immediately be entitled to a +1 bonus to his AC, even if he were wearing a Ring of Protection on the other hand, magical metal armor, or the like. When the character finally reached 14th level, the ring would give him a +8 bonus to his AC (14-7=7, 7+1=8). Theoretically, there is no limit to the ring's defensive capabilities, in terms of maximal bonuses to armor class.
The ring does not grant a bonus to saving throws of any kind, nor does it protect the wearer from direct damage spells, or area effect spells. If the wearer takes the ring off for any reason, then the next time he puts the ring on, he receives only a +1 bonus to his AC, increasing with each level he goes up.
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