BEIJING (AP)—Michael Phelps swam into Olympic history with a magnificent finish Saturday, his arms soaring through the water one last time to get a hand on the wall and win his seventh gold medal of the Beijing Games.

Phelps beat Milorad Cavic of Serbia in the 100-meter butterfly by a hundredth of a second, setting an Olympic record in 50.58 seconds but snapping his streak of setting world records in each of his previous six gold-medal performances.

The 23-year-old American has now pulled even with the greatest of Olympic records, matching Mark Spitz’s seven gold medals from the 1972 Munich Games.

Call this one the Great Haul of China—and it’s not done yet.

Phelps will return on Sunday to swim in his final event of the Beijing Games, taking the butterfly leg of the 4x100 medley relay. The Americans will be heavily favored to give him his eighth gold, leaving Spitz behind.

Phelps pounded his fist in the water and let out a scream after the astonishing finish. The crowd at the Water Cube gasped—it looked as though Cavic had won—then roared when the “1” popped up beside the American’s name.

“I had no idea,” Phelps said. “I was starting to hurt a little bit with probably the last 10 meters. That was my last individual race, so I was just trying to finish as strong as I could.”

A notoriously slow starter—Phelps was seventh out of eight at the turn— he really turned in on with the return lap, his long arms windmilling through the water as he closed the gap on Cavic and Ian Crocker, the world record holder.

As they approached the finish, Cavic took his final big stroke and reached for the gold. Phelps, his timing a bit off but fully aware of where he was, did another mini-stroke and actually slammed the wall with his hands on the follow-through.

That was the difference.

“I actually thought when I did take that half-stroke, I thought I lost the race there, but I guess that was the difference in the race,” Phelps said.

It was reminiscent of the 100 butterfly finish at Athens four years ago, where Crocker appeared to have the race won but Phelps got him at the wall by 0.04.

“My last two Olympics I’ve been able to nail my finishes, and it’s been by four one-hundredths and one one-hundredths,” he said. “I’m happy and kind of at a loss for words.”

Cavic had no words. Clearly perturbed at getting beaten by a fingertip, he stormed past reporters in the mixed zone without stopping.

Andrew Lauterstein of Australia won the bronze medal in 51.12. Crocker was again denied the first individual gold of his career; he didn’t even win a medal, finishing fourth by a hundredth of a second in 51.13.

“It was a tight one,” Crocker said. “I saw my short differential between getting a medal or not, but then I realized Michael’s was pretty close, too. I’m really glad that he came out on top.

“It was everything that an Olympic final should be. It doesn’t matter who’s in the heats, you just got to get out and race and it’s anybody’s game. It was one of the more intense races that I’ve been in, which makes it a great way to end the meet.”

While the medley relay figures to be nothing more than a coronation, Phelps isn’t ready to talk about No. 8.

“It’s not over yet,” he said. “I really think the Australian team looks great for the relay. It’s going to be a race.”

Rebecca Adlington of Britain won the 800 freestyle, breaking Janet Evans’ 19-year-old world record.

Adlington finished in 8:14.10, breaking the oldest record in swimming of 8:16.22 set by the American in Tokyo on Aug. 20, 1989.

Alessia Filippi of Italy took the silver in 8:20.23. Lotte Friis of Denmark earned the bronze in 8:23.03.

Adlington completed a sweep of the women’s distance events in Beijing, having upset Katie Hoff of the United States to win the 400 freestyle.

Kirsty Coventry of Zimbabwe defended her Olympic title in the 200 backstroke, winning in a world-record time.

She led all the way and finished in 2:05.24 seconds, lowering the mark of 2:06.09 set by Margaret Hoelzer at the U.S. trials last month.

Hoelzer took the silver in 2:06.23. Reiko Nakamura of Japan earned the bronze in 2:07.13.

Cesar Cielo sprinted to a gold medal in the men’s 50 freestyle, defeating a field of heavyweight contenders with an Olympic record time.

The Brazilian finished in 21.30, lowering his own Olympic mark of 21.34 set in the semifinals. Cielo tied with Jason Lezak of the United States for bronze in the 100 free.

Amaury Leveaux of France took the silver in 21.45. Alain Bernard of France, the 100 champion, earned the silver in 21.49.

World champion Ben Wildman-Tobriner of the United States was fifth in 21.64 and Eamon Sullivan, the world record-holder from Australia and silver medalist in the 100, was sixth in 21.65.

Roland Schoeman of South Africa, the bronze medalist four years ago in Athens, was seventh.