Sweden`s Ericsson 4 retained its large lead on Saturday in the Volvo Ocean Race around the world and was less than 300 miles (480 kilometres) from Cape Town, the end of the first stage of the event, where it was expected to arrive on Sunday.

In a statement, the team skippered by Brazil`s Torben Grael said they were `battling on` to the finish and `hopefully handing on to first place`.

If it arrives first in Cape Town Ericcson 4, a favourite to win the race, will take the lead in the classifications of the Volvo Race, which is won by points and not by the fastest overall time.

Each of the yachts receive points according to their position in each of the 10 legs. Half points are also awarded at six scoring gates along the route and for the seven `in-port` races.

During the last five editions of the event, the winner of the first stage has gone on to win the race.

Organizers expect the eight boats taking part in the race will arrive in the bay of Cape Town at around 10 a.m. (0800 GMT) if the winds do not weaken substantially on the approach to the South African coast.

Ericsson 4 is more cautious, predicting it will cross the finish line of the first stage of 6,500 miles, which got underway in the Spanish port of Alicante on October 11, shortly after noon.

The yacht has only 10 crew on board instead of the usual 11, after dropping off an injured crew member in the Cape Verde islands.

Earlier this week it broke the world 24-hour distance record for a monohull yacht by traveling 602.70 miles (1,115 kilometres) during that time period.

Some boats, like the one belonging to Spanish team Telefonica Black which is in last place, suffered damage after crossing a stormy region in recent days.

Participants will depart from Cape Town on November 15 for Cochin in India for the second stage of the event.

The finish line in the race of 37,000 nautical miles is in St Petersburg, Russia, where the teams are expected in June 2009.

Positions at 1100 GMT Saturday:

2. Puma Ocean Racing (USA)/Ken Read (USA) 104 miles behind

4. Green Dragon (IRL-CHN)/Ian Walker (ENG) 379 miles

5. Telefonica Blue (ESP)/Bouwe Bekking (NED) 489 miles

6. Team Russia (RUS)/Andreas Hannakamp (AUT) 547 miles

7. Delta Lloyd (NED)/Ger O`Rourke (IRL) 585 miles

8. Telefonica Black (ESP)/Fernando Echavarri (ESP) 658 miles

Provisional classifications before arrival in Cape town:

1. Telefonica Blue (ESP) 6 points

2. Telefonica Black (ESP) 6

3. Puma Racing (USA) 6

4. Ericsson 4 (SWE) 6

5. Green Dragon (CHI-IRL) 6

6. Delta Lloyd (NED) 2

7. Ericsson 3 (SWE) 1

8. Team Russia (RUS) 1

NOTE: Ericsson 3`s classification includes a penalty of two points for a rules violation over the weight of its keel