Die Another Day is set to take up $450m (�285m) at cinemas around the world - more than any other Bond movie, a studio official has said.

Alex Yemenidjian, chief executive of Metro-Goldwyn-Mayer (MGM), said the 20th Bond title would break the record for the value of its ticket sales.

In its first three weeks of release it has already taken $120 million (�76m) in the US and Canada.

However, taking into account inflation on ticket prices, it is likely that earlier Bond films will prove more financially successful.

Harry Potter still leads Bond at the UK box office

Thunderball, the fourth title released in 1965, took the equivalent of $807m (�512m) in today's currency, according to a report in Time magazine.

In the UK, Die Another Day has taken �23.6m after three weeks.

But it is still lagging behind Harry Potter and the Chamber of Secrets, which has taken more than �41m.

Both titles will face a challenge for supremacy from the new Lord of The Rings film, The Two Towers, when it opens later this month.

Pierce Brosnan's next Bond role will take longer to produce

Speaking in New York on Wednesday, Mr Yemenidjian said in recent years MGM had tried to release a Bond movie about once every two years.

However, because of the strong success of Die Another Day, it would take three years to complete the 21st film in the franchise.

"I think there is a very big risk in rushing these things and screwing up the value of your franchise," he said.

In interviews to promote the film last month, producers Barbara Broccoli and Michael Wilson said they would not even begin working on a new Bond script until early next year.