Kylie Minogue was feted Monday night with the prestigious annual Music Industry Trusts' Award at a gala dinner at the Grosvenor House Hotel.

The Australian entertainer became the first woman to receive the honor in the U.K. music business event's 16-year- history. And, at 39, she is also the youngest recipient to date. Organizers said that the event was the most heavily subscribed MITs dinner to date.

Minogue was bestowed the award in "recognition of her universally acclaimed status as an icon of pop and style achieved over a 20-year career which has seen her reinvent, experiment and inspire."

Minogue described receiving the award as "absolutely surreal" and told the packed house she was "immensely proud" to be the first female beneficiary.

"I'm trying to take in the moment," she said. "It's like my birthday and Christmas both at once," Minogue said. "I'm thrilled that it is the most popular MITS. I feel so popular," she quipped.

Minogue's younger sister, Dannii, herself a pop artist with a string of U.K. hit singles to her credit, was on hand to present the award to her sibling, who regaled the audience with tales of her childhood pop ambitions, which were kindled from the age of four. The Minogues' parents encouraged Kylie to learn a string of instruments, including the glockenspiel, piano, recorder and flute, none of which stuck. She also "threatened" to perform an impromptu flute solo.

Later, Jamie Cullum took to the piano to join Minogue in a stripped-down, torch song-style rendition of her 1988 U.K. No. 1 hit "I Should Be So Lucky." She followed with a performance of her new track "2 Hearts," accompanied with Scissor Sister Jake Shears and her own backing band.

Prior to receiving her gong, Minogue was feted by her family and peers in a collection of video tributes, which included comments from Australian film director Baz Lurhman; artists Bono and Sting; comedian Barry Humphries; her former production team Mike Stock, Matt Aitken and Pete Waterman; and fashion designers Domenico Dolce and Stefano Gabbana; and Karl Lagerfeld.

The artist is a household name in Britain, where she first rose to fame in the 1980s as an actor in the Australian soap opera "Neighbours." She turned to the music industry in the late '80s, and started her career landing 13 successive top 10 entries in Britain. According to PPL, joint sponsor of the evening with PRS, Minogue is the most-played female artist on U.K. radio over the last 20 years.

Minogue recently hit the comeback trail after taking time out to recuperate from breast cancer, and will issue her 10th studio album "X" (EMI) on Nov. 26. She joins a celebrated line-up of previous MITS recipients, including Beatles producer Sir George Martin, composer John Barry, artist Peter Gabriel and the late Atlantic Records founder Ahmet Ertegun. Promoter Harvey Goldsmith was the winner in 2006.

To date, the event has raised more than £3 million ($6 million) for its nominated charities Nordoff Robbins Music Therapy and the BRIT Trust. Guests at the gala on Monday night generated an extra sum of nearly £500,000 ($1 million) throgh ticket sales, a raffle and a blind auction.