Updated statement on Millions of record

In my data stage job i used a updated statement on millions of record,
It taking 20 to 30 hrs and i want to reduce the time is there any one suggest how can i do.

here tha update statement:
UPDATE SET CONT_STATUS_CODE=:3 WHERE CONT_NO=:1 AND TYPE_OF_PLAN_CODE=:2

[b]Question asked by visitor harish[/b]

have u pk/referential integrity on this table index on column?

Try to create index on the involved fields.