This item can be purchased from Merchants:
Stats before patch 1.89, item stats not changed retroactively:
Constitution: 10 pts
Strength: 10 pts
Cold Resist: 10%
Energy Resist: 10%
Per Patch 1.103 (05.18.10):
Belt of the Protector, Soulbinder's Belt, and Potent Deathwatcher Chain: These items have had their Realm requirement removed. They will now drop from all 3 adult dragons and are available for purchase from the Dragon Scale stores.
Can be purchased from Trishy (Alb), Brohd (Mid) and Elenora (Hib) for 450 Dragon Scale.