Veteran athlete Hendrick Ramaala believes he can break the long-standing Old Mutual Two Oceans men's record when he competes against a strong field in Cape Town on April 4.

The record of 3:03:44 was set by the late Thompson Magawana in 1988 and Frith van der Merwe set the women's benchmark of 3:30:36 a year later.

Each athlete who will break the record in both men's and women's races will get a bonus of R1-million.

This huge bonus was offered by the headline sponsor for the first time last year, but neither the men's winner nor the women's winner were able to break the records.

But Ramaala, who finished second on his debut last season, believes he stands a chance of breaking the record, provided the weather cooperates.

"It's tough to say you're going for the record because of the elements. Sometimes it pours and it's usually windy in Cape Town," said Ramaala, a 2004 New York City Marathon winner. "However, if it's a good day, I think it's possible. I'm 43 years old but I still feel I can do it."

Defending champions Lebenya Nkoka from Lesotho and Russian Nina Podnebesnova have confirmed their entries for this year's race.

Ethiopian athlete Gashaw Asfaw will provide a major threat in the men's race.

The women's line-up includes Ethiopian Shitaye Gemechu and Zimbabwean Tabitha Tsatsa, who won the 2013 edition of the race.