The curtain rose on the Michael Phelps show Wednesday, the US swim star turning in a relaxed performance before a throng of media touting his tilt at Olympic history at the Beijing Games.

Phelps, flanked by 41-year-old teammate Dara Torres and coach Bob Bowman, started off by downplaying his assault on Mark Spitz's record seven Olympic gold medals at one Games.

"You guys are the ones who are talking all about it - I'm not saying anything," said Phelps, whose five individual events and three relay swims give him a chance not only to match but to better Spitz's haul from the 1972 Munich Games.

Michael Phelps of the US laughs during a press conference at the MPC yesterday. [Agencise]

"I'm just going through doing what I have to do to prepare myself the best that I can to be as fast as I can," Phelps said. "That's my goal and that's what I'm going to stick with.

"I haven't said anything about breaking any record, going after any record. My goals haven't been published."

But Speedo's million-dollar offer for a record-equaling seven golds still stands, and Phelps reached the magic number of seven triumphs at last year's World Championships.

Phelps is certainly on record as a fierce competitor who hates to lose, and the fact that he is the world record holder in four of his five individual events underlines his status as a man capable of improving on his six-gold haul at Athens.

"I think Michael is a fantastic swimmer, and I think if anyone in the world can possibly do it, it is Michael," Australian swim coach Alan Thompson said.

"I think it will be a great story over the nine days of competition. There will be a lot of people watching, hoping to see history."

On Wednesday, Phelps traded jokes with Torres about his droopy moustache as a phalanx of cameras rattled like machine guns.

A flash of the famous Phelps resolve emerged when he singled out the 400m individual medley, his first event, as perhaps his toughest.

Phelps lowered his own world record in that event at the US trials last month, but had to fight off teammate Ryan Lochte, who was also under the previous world record time.

"It's the one I'm most excited to swim," Phelps said. "I've been working over the last few weeks to fine-tune a few things and hopefully improve the 400 IM."

Bowman said the 23-year-old Phelps has things going for him now that he didn't have in Athens.

"Physically, he's much stronger and more mature, so he's got a lot more power and still has the fitness," Bowman said. "Emotionally, he's much the same guy, handles challenges very well.

"The biggest advantage he has now is he's been through the process before. So he knew what to expect and he's handled all of the other things that come with the Olympic Games better."

Of necessity, Phelps is taking a business-like approach to the Games. Like many swimmers, whose events begin the day after Friday's Opening Ceremony, he won't take part in the festivities.

Instead, he said, he'll try to catch some of it on TV before turning in for the night.

But Phelps said he was enjoying the Olympic experience - rooming with teammates in the Olympic Village and goofing off during occassional waits for the bus on the way to and from training sessions.