The rapid rise of Lankan Rupee to elite-level sprinter was complete on Saturday as the gelding stormed to victory in the Group One Oakleigh Plate.

Aided by a well-judged ride from Craig Newitt who elected to take a sit three-wide with cover behind a strong pace on the $4 favourite, Lankan Rupee pounced in the straight and put the result beyond doubt with 200m to run.

He had 1-1/4 lengths to spare on the line over Spirit Of Boom ($16) which had to settle for an Oakleigh Plate minor placing for the second straight year.

Knoydart ($5) stormed home out wide for third, another half length away.

Lankan Rupee's fifth win from six starts since being gelded was a triumph for trainer Mick Price who earlier had to settle for minor placings in the $1 million Blue Diamond with Jabali and Cornrow.

"He's a good horse and deserves his Group One," Price said.

Lankan Rupee's maiden Group One sets up a clash between Price's two sprint stars in the Newmarket Handicap next start, with Newitt sticking with Samaready.

"He just blew them away," Newitt said of Lankan Rupee's performance, adding that gelding the horse before last spring had made all the difference.

"I haven't ridden a horse that has just improved so much. He's always had ability but he was just very much backwards as a colt.

"She's a great mare, Samaready, but this bloke is closing."

Newitt said Samaready was his Newmarket choice.

"I've ridden her every start and as much as I love this bloke, I think if she (Samaready) was sound she's as good as Miss Andretti was. And I think she'll show that in the Newmarket."

Spirit Of Boom closed between runners while Knoydart is likely to be a Newmarket Handicap late entry.

Paul Snowden, foreman in Melbourne for his father Peter, said they would discuss with the Darley team about the $55,000 Newmarket late entry fee.

"He ran enormous," Snowden said.

"He ran into traffic when he needed to be improving but was good late, taking ground off the winner."