England, set 197 to win, collapsed to 33 for five before a stand of 116 between man-of-the-match Geraint Jones (71) and Paul Collingwood (53) took them to within sight of victory after they bowled the world champions out for 196.

But with three needed off the last ball, bowled by Glenn McGrath, England got two after a Brett Lee misfield to finish on 196 for nine.

The result confirmed just how evenly matched the teams had been throughout a series where they'd beaten each other once (England by three wickets at Bristol on June 19 and Australia by 57 runs at Chester-le-Street) four days later and also been involved in a no-result washout.

"With there being no result in this series, it will make us even keener to perform better in the next one," said Ponting ahead of Thursday's one-day international at Headingley.

"It's probably going to be good for the next series that this one has finished the way it has.

"We've got three games against England without Bangladesh and we're looking forward to them."

Australia too struggled early on after they'd lost the toss in overcast conditions and it was only thanks to Mike Hussey's unbeaten 62 that they posted a competitive total.

"I felt it was a game we should have won. It was a very difficult wicket to bat on and close to 200 was a good score," Ponting, who admitted he felt "empty", also told reporters after Saturday's match.

"I don't think too much went wrong. We beat the bat, I don't know how many times early on when Jones and Collingwood were first in there but I thought their partnership was very good."

He added: "To have a tie in the final is a pretty fair reflection of the series. I'm disappointed we didn't win but that's one of the best games of one-day cricket you'll ever see."

England have lost the last eight Ashes series but this result will bolster the belief that this season's five Test campaign, which follows the one-dayers, between cricket's oldest rivals will be the most hard-fought for years.

Michael Vaughan's men have won their last five Test series and Ponting said: "We all knew coming here, England would have extra edge about them.

"When you've won as many games as they have it tends to have an influence on the team. I'm not surprised by it."

Vaughan praised his sixth-wicket duo's technique and resolve. "I think we showed a lot of character.

"Geraint played beautifully and Colly really hung in there. It just gave us a chance of getting close to their target.

That was the pleasing thing, that we showed a lot of character when we looked like we were down and out."