World 5,000metres and 10,000m champion Kenenisa Bekele has confirmed he will compete at the Norwich Union Grand Prix in Birmingham on 17 February.
Bekele is aiming to better Gebrselassie's time
The 24-year-old Ethiopian will bid to set a new world record in the 2,000m.
The current mark of four minutes 52.86 seconds was set by his compatriot Haile Gebrselassie at the NIA in 1998.
"I'm pleased with my form at the moment - 2007 has started well for me in the cross country, and I want to continue with that success indoors," he said.
British sprinters Mark Lewis-Francis and Jason Gardener will take on two of their major European rivals, Olympic silver medallist Francis Obikwelu and world indoor silver medallist Andrey Yepishin, at the meeting.
The race comes just a fortnight before the European Indoor Championships on the same track.
"It will be a testing challenge ahead of the Europeans," said Obikwelu.
"I always enjoy running in Britain and the Birmingham Grand Prix will be a great chance to race against some strong competition."
Portugal's Obikwelu won both the 100m and 200m at the outdoor European Championships in Gothenburg last summer.
Russia's Yepishin was second in the 100m.
Gardener missed out on 60m gold at the Birmingham event last year after being pipped by Freddy Mayola.