| July 26, 1988 | CL | 1988 | 3 | Millonarios FC | 3 - 0 | Montevideo Wanderers | 1 | |||
| July 26, 1988 | CL | 1988 | 4 | Cerro Porteño | 2 - 2 | Oriente Petrolero | 1 |
| GP | W | T | L | gf | ga | gf/ga | |||
|---|---|---|---|---|---|---|---|---|---|
| Oriente Petrolero | CL | 1988 | 3 | 2 | 1 | 0 | 5 | 3 | 1.67 |
| Millonarios FC | CL | 1988 | 5 | 1 | 0 | 4 | 8 | 11 | 0.73 |
| Montevideo Wanderers | CL | 1988 | 6 | 1 | 1 | 4 | 3 | 8 | 0.38 |
| Cerro Porteño | CL | 1988 | 2 | 0 | 2 | 0 | 2 | 2 | 1.00 |