A try from prop Duncan Jones with the game's last move ensured the Ospreys pipped the Blues to the final Welsh spot in next season's Heineken Cup.
Glasgow (10) 34
Tries: Lamont (2), Parks, Wilson
Cons: Parks (4)
Pens: Parks (2)
Ospreys (7) 31
Tries: J Thomas, Newman, Pugh, D Jones
Cons: Henson (4)
The score gave the Welsh team a second bonus point, despite losing to a determined Glasgow at Hughenden.
Tries from Sean Lamont (2), Dan Parks and Andy Wilson looked set to end the visitors' European dreams.
But Jon Thomas, Andy Newman and Richie Pugh kept them in the game, before Jones drove over from close range.
The Ospreys had made their intentions clear by racing into the attack from the first
They pinned the hosts inside their own 22 for the opening 10 minutes, but a combination
of greed and resolute defence kept them out.
Full-back Gavin Henson was the most culpable, darting through a gap
then ignoring the four team-mates who were on his shoulder in support.
Predictably, he was hauled down a couple of paces short of the target and the
chance was gone.
They paid the price for their lack of finishing power as Glasgow broke the
deadlock with their first raid into enemy territory.
Scotland playmaker Parks did the initial damage, charging out of his own
Dave Millard and Graeme Morrison were each involved twice in the sweeping move
along with Glenn Metcalfe, making his last appearance before his move to
The tide was stemmed a few metres from the line, but when the ball was
recycled wing Lamont found the power to force his way over.
The Welshmen got their act together four minutes from the interval when lock
Thomas was driven over from a penalty line-out.
However, Glasgow seized back the momentum just after the restart when Lamont
showed off his impressive pace to cruise to the line from 35 metres out.
Even worse was to come for Ospreys as Parks scuttled over beside the posts.
The Neath-Swansea side refused to buckle and Newman squeezed through from close
range to keep his side in the hunt.
Glasgow responded in thrilling fashion with flanker Wilson bagging
try number four.
Substitute flanker Pugh crossed to give the visitors hope, before Jones' late, late strike secured bonus points for the fourth try and for finishing within seven points of the winners.
"I'm a very relieved man," said Ospreys team manager Derwyn Jones.
"Character and will brought us through. The players knew what they had to do and showed tremendous spirit and commitment."
Glasgow: G Metcalfe, D Millard, G Morrison, A Henderson, S Lamont, D Parks (capt), S Pinder, E Milligan, S Lawson, B Prescott, J Beardshaw, A Hall, A Wilson, D Macfadyen, R Reid.
Replacements: S Gunn, C Whitaker, R McKay, M Sitch, G Beveridge, C Howarth, J Steel.
Ospreys: G Henson, S Terblanche, J Storey, D Tiueti, S Williams, S Connor, A Williams, D Jones, B Williams (capt), A Millward, A Newman, J Thomas, J Bater, S Tandy, N Bonner-Evans.
Replacements: R Wells, A Durston, A Lloyd, H Bennett, P James, R Pugh, L Bateman.
Referee: David McHugh (Ireland)