Beijing - Federica Pellegrini of  Italy set a new world record and won the gold medal of women's 200m freestyle clocking 1:54.82 at the Beijing Olympic Games  on Wednesday.

Italy's Federica Pellegrini reacts after winning the women's 200m freestyle swimming final at the National Aquatics Center during the 2008 Beijing Olympic Games in Beijing on August 13, 2008. Pellegrini set a world record time of 1:54.82. [Agencies]

Sara Isakovic of Slovenia took the silver in 1:54.97.  Pang Jiaying of China earned the bronze in 1:55.05, giving the Chinese women their first swimming medal of these games.

American Katie Hoff finished fourth in 1:55.78, the first time in three events she failed to win a medal.