North End took the lead three times, only to allow Burnley to equalise three times, before finally managing to to knock away two more without conceding.
For the neutral football fan, it was one of the best games in years. For fans supporting Preston, Jonathan Gould summed things up perfectly: 'It was a rollercoaster!'
Ricardo Fuller opened the scoring on 18 minutes with a brilliant run up-field having collected the ball from Burnley captain David May, who had blocked a shot from the Jamaican moments earlier.
Fuller finished his run - half the length of the pitch - with a blast past Brian 'The Beast' Jensen.
Ian Moore pulled the Clarets back level when he snapped on to the end of Jonathan Goulds block of Richard Chaplows 25-yard effort just six minutes later.
By half-time, with the score at 1-1, there was little to suggest North End had four more goals in them. While they had taken the lead, it was Burnley who had dominated possession in the centre of the park.
But within five minutes of the restart, Preston were looking dangerous. Dickson Etuhu was blocked from scoring after Fuller had jinxed through the Burnley defence to set up the midfielder.
Fuller set up Prestons second on 60 minutes. Tracking the ball back from the line into the path of a seated Eddie Lewis, who pushed the ball over the line while still on his backside.
But while the internationals were weaving the magic upfront, the home defence was being unpicked with ease by Burnley. Four minutes after Lewis goal, Arthur Gnohere rose umarked to head home Robbie Blakes free kick, awarded for a foul by Richard Cresswell.
Brilliant work by Gould kept North End level on 66 minutes, somehow keeping out a thunderbolt from Robbie Blake, while Ian Moore and May also tried their hand on goal.
David Healy, on for Etuhu, broke down the right on 71 minutes before cutting the ball low into the area. Cresswell missed it, but man of moment Fuller was spot on to give North End the lead for the THIRD time.
Marlon Broomes, however, gifted Burnley their third equaliser five minutes later when he clumsily brought down Blake in the area. Blake blasted home past keeper - and former Bradford team-mate - Gould.
Seconds later and Gould pulled off another world-class save, this time denying Glen Little from a seemingly unmissable scoring opportunity.
And it was straight back down the other end where substitute Pawell Abbott found Fuller in plenty of space - he duly hit his third, giving him his first hat-trick in a North End shirt.
The star striker turned provider on 88 minutes when he unleashed Healy on the right. He charged forward, and while everyone expected him to square the ball into the centre of the box, he opted to tuck it right between Jensen and the post.
PRESTON NORTH END 5
FULLER, LEWIS, FULLER, FULLER, HEALY
BURNLEY 3
I MOORE, GNOHERE, BLAKE
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