Australia has won their first gold medal of the 2008 Beijing Olympics in one of its key performing sports after Stephanie Rice this afternoon broke the world record in the 400 metres individual medley.

Rice was under world record pace for the entire race, and won in the time of 4:29.45, almost 1.6 seconds better than the previous world record which had been set by American Katie Hoff, who finished third in the race.

Finishing in second was Zimbabwean Kirsty Coventry, who also swam under world record pace to claim the silver medal.

Rice’s victory is the first medal for Australia in the Beijing Olympics, and is Australia’s 400^th Olympic Medal.

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Tags: beijing olympics, sport, swimming