Slow update - index problem?

I'm trying to perform a very simple update that is very slow. I suspect
that it is a key/index problem, but we've tried a number of things and
we're stumped. The table is:

Column | Type | Modifiers
---------+------------------------+---------------------------------------
ind_id | integer | default nextval('"ind_id_seq"'::text)
bnr_id | integer | not null
jim_id | integer |
fnm | character varying(40) |
nnm | character varying(40) |
mnm | character varying(40) |
mdn | character varying(40) |
lnm | character varying(40) |
cnm | character varying(200) |
ord | character varying(80) |
eml | character varying(80) |
stf_id | character varying(9) |
std_id | character varying(9) |
tgl_upd | boolean |
Indexes: ind_pkey primary key btree (bnr_id),
ind_std_id_key unique btree (std_id),
ind_stf_id_key unique btree (stf_id),
ind_fnm_idx btree (fnm),
ind_ind_id_idx btree (ind_id),
ind_lnm_idx btree (lnm),
ind_ord_idx btree (ord)

and the query:

update ind set tgl_upd = 'f';

The table has 19867 records, and this query takes over 20 minutes. When I
export the data to a new DB, with the same table (no indexes) it takes
about 3 seconds.

Any ideas? Would *removing* indexes make it faster? If so, this sounds
strange. Any help/info would be much appreciated.

Cheers,

Chris

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Christopher Murtagh
Webmaster / Sysadmin
Web Communications Group
McGill University
Montreal, Quebec
Canada

Tel.: (514) 398-3122
Fax: (514) 398-2017