Ten best-selling singles have been selected and viewers of the ITV show on Saturday evening will be asked to choose between them as the acts perform live on TV.

Celine Dion: In the running with her best-selling single My Heart Will Go On

Among the favourites tipped to win are Celine Dion's My Heart Will Go On and B*witched's C'est La Vie - but, surprisingly perhaps, the Spice Girls have not made it into the final selection.

The show is to be presented by soon-to-be ex-Big Breakfast girl Denise Van Outen.

The show's producers also promise that celebrity guests will include David Baddiel and Frank Skinner - and Gennifer Flowers, the nightclub hostess who became famous after having an affair with US President Bill Clinton.

Gennifer Flowers: A surprise guest on the show

The Record of the Year 1998 is the idea of ageing DJ Jonathan King, who claims it could turn into the biggest phone poll in British TV history.

"It's all a bit of fun like Eurovision, but I'm predicting that it will double the sales of music in the five days leading up to Christmas which is already the busiest time of the year," he said.

"I would expect the music industry to go into profit across the board because it will get everyone into the shops."

David Baddiel (left) and Frank Skinner will be enjoying the show

Mr King said he is hoping that the show is a success so that it will become a regular fixture in the TV schedules. Other shows he has been involved in include No Limits and Entertainment USA.

But he admitted that his own favourite band has not even made the shortlist for the live TV special.

"Mine was Aerosmith's I Don't Want To Miss A Thing and I'm furious it's not on there. I'm thinking of boycotting the whole thing, but I can't - I'm the executive producer," he joked.

The ten finalists are::

• Angels - Robbie Williams.
  
• Believe - Cher.
  
• C'est La Vie - B*Witched.
  
• Feel It - The Tamperer Featuring Maya.
  
• Got The Feelin' - Five.
  
• How Do I Live - LeAnn Rimes.
  
• My Heart Will Go On - Celine Dion.
  
• Never Ever - All Saints.
  
• No Matter What - Boyzone.
  
• One For Sorrow - Steps.