| Group 3 | 23/02/1999 | Cerro Porteño | - | Club Olimpia | 4:3 |  |
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| Group 3 | 04/03/1999 | Club Olimpia | - | Palmeiras | 4:2 | ||||
| Group 3 | 11/03/1999 | Palmeiras | - | Club Olimpia | 1:1 | ||||
| Group 3 | 16/03/1999 | Club Olimpia | - | Cerro Porteño | 2:2 | ||||
| Group 3 | 25/03/1999 | Club Olimpia | - | Corinthians SP | 1:2 | ||||
| Group 3 | 08/04/1999 | Corinthians SP | - | Club Olimpia | 4:0 |  |
Paraguay