The seven-year-old, who is already as short as 8/1 for the JLT Novices' Chase (10/1 at Sky Bet) and 10/1 for the RSA at the Cheltenham Festival, will take on five rivals in the extended two-mile-one-furlong contest.
The JP McManus-owned gelding has won eight out of his 10 starts over hurdles, including two at Grade One level with the most recent victory coming in the Liverpool Hurdle at Aintree on his final start of last season.
King said: "I am excited about the prospect of launching him over fences, but I would be lying if I wasn't a bit apprehensive as you want things to go well.
"This race has been in the back of our minds for some time. His preparation has gone well and he is ready to start, so let's hope it goes well.
"Barry (Geraghty) has come over and ridden him once and he was delighted with him. I've been very happy with him and he has had four or five good schooling sessions.
"It is a lovely, big, galloping track and the trip should be fine and he won't mind the soft ground."
Philip Hobbs' front-running and smart handicap hurdler Sternrubin is likely to keep him honest and Richard Johnson is looking forward to the ride.
"I’m looking forward to Sternrubin having his first start over fences at Exeter on Tuesday," he told his Betway Insider Blog.
"He's always been a very good horse and tries hard. Going right-handed will help him, but he doesn’t face an easy task with Yanworth in there."
Richard Woollacott hopes Lalor can pick up where he left off in the spring by making a victorious return in the Prydis Novices' Hurdle.
Having won a Grade Two bumper at Aintree in April, the five-year-old will make his debut over hurdles in the extended two-mile prize.
Woollacott said: "He seems well at home so we will see what he does tomorrow. We schooled him before we turned him out last year and he seems very good. Everything seems well.
"Tom Scudamore has been a couple of times to sit on him and I expect he has jumped about 40 hurdles with him.
"He pulled quite hard in the bumper at Aintree. I hope he doesn't pull too hard tomorrow, as long as he gets relaxed we will see what happens.
"He will improve and tomorrow is not the be-all and end-all. As long as he comes back safe and sound, hopefully there will be some nice days in him.
"The win at Aintree was fantastic for a little yard like ourselves and it was down to the hard work of all the team."
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