AIS swimmer Nick Frost has produced an outstanding last lap to secure Australia the bronze medal in the men's 4x200m relay at the Beijing Olympics.

The quartet of Patrick Murphy (AIS), Grant Hackett, Grant Brits (former AIS) and Ffrost (AIS) finished in seven minutes 4.98 seconds behind the world record shattering USA (6:58.56) and Russia (7:03.70).

The Americans took almost five seconds off their world mark as records continued to fall in the pool.

The United States team led by superstar Michael Phelps broke their world record by almost five seconds.

The victory gave Phelps his fifth gold medal of the Beijing Games and the 11th Olympic gold of his career.

Fellow AIS scholarship holder Kirk Palmer was also a member of the Australian 4x200m relay team having swam in an earlier heat.