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Video - Aussies' record-breaking relay win
Australia set a world record of three minutes 52.69 seconds to win the gold medal in the women's 4x100m medley relay at the Beijing Olympics.
Emily Seebohm, Leisel Jones, Jessicah Schipper and Libby Trickett wiped 3.05 seconds off their 2007 record.
The United States finished second to give Natalie Coughlin her sixth medal of the Games and 41-year-old Dara Torres her third silver in China.
Great Britain set a new national record but finished 1.39 seconds behind China.
Gemma Spofforth gave the British team a solid start, touching in second place but Kate Haywood struggled to live with the pace set by 100m breaststroke gold medal winner Jones as the Australians streaked ahead.
Australia produced a superb team effort to win gold
Trickett extended the Australians' lead on the butterfly and Schipper managed to hold on despite Torres' push down the first half of the 100m freestyle.
Fran Halsall tried to close the gap on the final leg but Britain finished in 3:57.50 - just behind China's 3:56.11.
Spofforth admitted: "Fourth in the Olympic Games is just not good enough. Fourth is not the place to come. My time would have got me a medal in the individual and I'm gutted I didn't do it.
Jemma Lowe added: "I'm trying not to be upset. It's been a great experience being here.
"In the next four years the relay team is going to be phenomenal, and next time we'll get them."