Frith scored a 101 in the play-off and was named player of the tournament
Guernsey secured third place in the World Cricket League Division Six tournament in Singapore by just two runs, beating Malaysia on Saturday.
The third-fourth play-off repeated their league game as it was decided in the final over but with a Guernsey win.
Having reached 264-8 the Guernsey bowlers closed Malaysia out for 262-7.
"After losing three on the bounce at the start of the week to finish third, I don't think anyone would have thought that," said captain Stuart Le Prevost.
"Massive credit to all the guys, the coaching staff for picking us up and getting us out there and really doing the business," said Le Prevost
"It's a massive coup for Guernsey to get up this high in the world leagues, beating Malaysia today puts us up the world ranking more as well which is great and hopefully that'll be more funding."
Jeremy Frith ended the week with a century and was named the player of the tournament, an accolade he also took at the Division Seven tournament in Guernsey in May.
"It's no surprise Frithy's been our outstanding performer. If people knew what he put into the sport then they would realise what he gets out is just desserts really, he's had an awesome week," said Le Prevost.
"The whole 14 guys have put a massive amount of effort in and it's been one of those weeks where everyone has achieved something."
Guernsey and Malaysia remain in Division Six and their next World Cricket League outing will be towards the end of 2011.
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