THE latest attempt by DreamWorks to put Disney's gas at a peep is The Prince of Egypt, or The Ten Commandments Remade Without The Sexy Bits.

Magnificently designed, it combines traditional and computer-generated animation sometimes to breathtaking effect. The illustrated Bible, comic book approach has its drawbacks, and there are some ill-judged funny Egyptian priests with a ghastly,

would-be hilarious song to sing to Moses, Playing with the Big Boys now. Not that it is unique. All Stephen Schwartz's

sub-Lloyd Webber ballads are frightful. The inept script lacks dramatic impetus, and the all-star cast lend distinctly subfusc voices. But there are highlights, notably a hair-raising chariot race between Moses and Rameses, and an inspired sequence when a temple frieze of the slaughter of the firstborn comes to life.

Why Exodus was thought a suitable subject for a

90-minute cartoon feature must be between Steven Spielberg and his maker, or possibly between him and his DreamWorks partner, Disney renegade Jeffrey Katzenberg.

It doesn't extend the frontiers of the animated film, as has been claimed. At most it could prove a useful teaching aid in today's bookless schools because it provides numerous socially relevant discussion topics. Moses and Rameses, for instance, are clearly very close - ''Chuff chums ever since we were boys,'' in the words of the old song. Single parenthood, the responsibilities of parents who adopt children of a different colour or religious persuasion, being gay, slavery - the subjects for classroom debate are endless.

While not quite Chariots of Dire, it is a close-run thing, and for all the animators' revolutionary achievements, and for all the efforts of directors Brenda Chapman, Steve Hickner, and Simon Wells, the film's ability to astonish is nowhere near that of the old Cecil B de Mille films. For obvious reasons, the Golden Calf and what those randy Israelites got up to while Moses was on the mountain do not feature, which makes for a perfunctory happy ending.

n The Prince of Egypt (U) opens on general release tomorrow.