August 13, 2008 - 1:19PM

Australia's Stephanie Rice claimed a golden medley double after winning the 200 metres individual medley in world record time at the Water Cube.

Following up from her win in the 400m event on the opening day of the finals, Rice trailed Zimbabwe's Kirsty Coventry by .09 of a second at the final turn but powered home in the freestyle leg to win in a time of 2:08.45.

The time took almost half-a-second off the 2:08.92 record she set at the Olympic trials in Sydney.

Coventry took second in 2:08.59 with early pacesetter American Natalie Coughlin third home in 2:10.34.

Rice said the result made the long hours of training in the lead-up to the Games worthwhile.

"It's something I've dreamed about for a long time," she said.

"I put a lot of effort into this preparation so I'm really excited to see the results.

"It was a great battle, and that's what the Olympics is all about.

"Having Natalie Coughlin there really take it out was really good for me to get me out there.

"I knew that Coventry was going to be there the whole race and I knew she's extremely tough.

"It was really great for me to have her there pushing me along."

Rice says the race was even closer than she thought.

"It was extremely close and I didn't realise how close it was until I saw the scoreboard at the end.

"It was a phenomenal race."

But she says there will be no celebrations - at least, not yet.

"I've got the relay yet so no celebrating until I'm done."

Coughlin got out quickly to lead Rice at the first turn by 0.55, but lost the lead in the second 50m allowing Coventry to assume the lead after a strong backstroke leg.

Rice's fellow Australian Alicia Coutts started from lane two and finished fifth in 2:11.43.

Coventry set an Olympic record to qualify fastest for the final ahead of Rice and American duo Katie Hoff and Coughlin.

Rice vanquished Hoff in the 400m IM and finished ahead of Coventry to claim Australia's 400th Olympic gold medal.