Hi,
I had a similar situation and this is what I did:
Did a count of number of records in the table T1.
Created a new table T1_N identical to T1 in new tablespace
Used 'Load from cursor' to load 10% of the records from T1 to T1_N (used the 'fetch first xxxx rows' in the select statement in the 'load from cursor').
Gestimated the actual time as 10 times the time taken for loading 10% of the records and requetsed outage for this period.
During the outage:
Dropped the T1_N
Recreated T1_N
Moved data from T1 to T1_N
Renamed T1 to T1_O
Renamed T1_N to T1
After ensuring apps were running OK for a week, dropped table T1_O
Harikumar