WBA champion Nikolai Valuev claimed a majority points decision to end Evander Holyfield's hopes of becoming the oldest ever title-holder.
Holyfield put up a brave display and ensured those who had predicted an entirely one-sided contest were proved utterly wrong.
The 46-year-old, who was always the busier of the two fighters, used his greater mobility to cause the 7ft Russian problems and was awarded a draw by one of the three judges at ringside.
However, Valuev was given victory by scores of 116-112 and 115-114 by the other two to ensure he retained his title.
Holyfield, who entered the ring some 44 kilos lighter, as well as 11 years older, than his opponent enjoyed the support of the crowd present in Zurich.
Valuev fought at long-range for the most part with some solid but unspectacular jabs.
The Russian failed to land with any really big shots, troubling Holyfield only a couple of times with glancing blows.
But while no doubting the veteran American's heart, he struggled to truly impose himself on his giant opponent and Valuev dealt with his attacks, seeing out victory despite Holyfield's desperate late efforts.
"I saw it the other way from the judges but I'm not disappointed by my performance," Holyfield said afterwards.
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