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| 1st(1st leg) | Club Olimpia | - | Gimnasia de La Plata | 0:0 | ||
| 2nd (2nd leg) | Gimnasia de La Plata | - | Club Olimpia | 0:3 pso | ||
| 1st(1st leg): 02/09/1992 | 2nd (2nd leg): 09/09/1992 | Winner: Club Olimpia | ||||
| 1st(1st leg) | El Nacional | - | Atlético Mineiro | 1:0 | ||
| 2nd (2nd leg) | Atlético Mineiro | - | El Nacional | 2:0 | ||
| 1st(1st leg): 02/09/1992 | 2nd (2nd leg): 09/09/1992 | Winner: Atlético Mineiro | ||||
