Running for Penn State University at an invitational indoor meeting in Pennsylvania in the US early this morning, Foster ran three minutes, 58.49 seconds to place third in the race, behind Cory Leslie and Jeff See.

Foster bettered the 37-year-old mark previously held by Tasmanian Randal Markey of 4:00.9.

"I've always been one of those people who held onto that magic four-minute mile barrier.

"I know all the stories of Roger Bannister and John Landy and it has always been one of the dreams that has kept me going," Foster said immediately after his race.

Both Sandy Bay Harrier Club athletes were coached by the late Max Cherry.

"My coach (Max Cherry), rest in peace, I think he wanted that one more than anything, I think he will be pretty pleased," said Foster, who sports a tattoo in memory of Max Cherry.

Running on a 200-metre indoor track, of which there are none in Australia, Foster got a dream run.

"When the gun went, I tried to get in that pole position, then we ran a nice steady pace and I tried to hold on and hold on, which I did," he said.

Since Foster moved to the US on scholarship in 2009, he has enjoyed a flurry of successes.

Last January he broke the Australian indoor 800 metres and 1000 metres records, along with eclipsing the World Championships B qualifier for 800 metres in 2009.

"I'm pretty happy. People back home and particularly my family might not understand some of the things in the US, like being an All American or competing at big 10 titles, but a four-minute mile to all my family will make them pretty excited," Foster said.

Foster will return to Australia in April to attend the national championships, where he will attempt to qualify for the world titles in athletics this year in Korea.