As expected, STAR WARS: EPISODE 1 - THE PHANTOM MENACE set a record forsingle day gross on Wednesday with $28.5 million, breaking the previousrecord of $26.1 million set by THE LOST WORLD: JURASSIC PARK in 1997 on theSunday during the three day Memorial Day weekend. The previous record for aWednesday opening was $17.4 million, set by INDEPENDENCE DAY in July 1996.Despite reaching a new record, the film failed to fulfill early predictionswhich were in the range of $30 to $40 million and were based on earlyWednesday receipts. Will PHANTOM break the five-day weekend record of $95.8million set by THE LOST WORLD: JURASSIC PARK? Some expect it to hit $120million.