The Australia women’s basketball team, consisting of eleven former AIS scholarship holders, has won a silver medal for the third consecutive Olympic Games.

The United States proved too good winning 92-65 to take the gold medal.

It was Australia's worst performance of the tournament and forward Belinda Snell says it will be tough to get over.

'To bring that performance to the gold medal game, the most important game of the tournament is frustrating and disappointing,' Snell said.

'It's not often you get a chance to play off for a gold medal and to play like we did is very ordinary.'

AIS Director Professor Peter Fricker said the Australians could be proud of their achievements.

'I know it’s not the end result the girls were looking for but their performances throughout these Beijing Olympics have been good,' Professor Fricker said

'They have worked so hard in the lead up to and during theses Games and can leave Beijing with their heads held high.’

The Australian Institute of Sport was established in 1981, and has consistently contributed to Australia’s outstanding sporting performance on the world stage.

The Australian Olympic team in Beijing consists of 433 athletes. Of these, there are 262 current or former AIS athletes.

The Australian Sports Commission (ASC), on behalf of the Australian Government, invests in and supports our Olympians and Paralympians in many ways.

In addition to the $18.1 million the ASC provided to the AIS in 2007/08, the ASC also funded the athletes’ sports to the tune of $53.4 million in 2007/08.

Furthermore, the ASC provided direct funding totalling $4.3 million to more than 400 athletes in 2007/08 — vital support for athletes in their preparation for sporting success. This represents a total Australian government investment of $75.8 million in 2007/08 for our Olympians and Paralympians. The ASC is committed to providing all Australians with the best opportunity possible to participate in sport.