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| H | Dinamo Tbilisi | - | Athletic Bilbao | 2:1 (2:0) | ||
| R | Athletic Bilbao | - | Dinamo Tbilisi | 1:0 (0:0) | ||
| H: 12.08.1998 17:00 | R: 26.08.1998 20:30 | Sieger: Athletic Bilbao | ||||
| H | Galatasaray | - | Grasshopper Club Zürich | 2:1 (0:0) | ||
| R | Grasshopper Club Zürich | - | Galatasaray | 2:3 (1:2) | ||
| H: 12.08.1998 18:00 | R: 26.08.1998 20:00 | Sieger: Galatasaray | ||||
| H | HJK Helsinki | - | FC Metz | 1:0 (0:0) | ||
| R | FC Metz | - | HJK Helsinki | 1:1 (0:0) | ||
| H: 12.08.1998 18:00 | R: 26.08.1998 20:00 | Sieger: HJK Helsinki | ||||
| H | Dinamo Kiev | - | AC Sparta Praha | 0:1 (0:1) | ||
| R | AC Sparta Praha | - | Dinamo Kiev | 1:3 (0:0, 0:1, 0:1) i.E. | ||
| H: 12.08.1998 19:00 | R: 26.08.1998 20:15 | Sieger: Dinamo Kiev | ||||
| H | 1. FC Košice | - | Brøndby IF | 0:2 (0:0) | ||
| R | Brøndby IF | - | 1. FC Košice | 0:1 (0:1) | ||
| H: 12.08.1998 19:00 | R: 26.08.1998 20:10 | Sieger: Brøndby IF | ||||
| H | AFC Steaua București | - | Panathinaikos | 2:2 (1:1) | ||
| R | Panathinaikos | - | AFC Steaua București | 6:3 (3:2) | ||
| H: 12.08.1998 19:45 | R: 26.08.1998 20:00 | Sieger: Panathinaikos | ||||
| H | Rosenborg BK | - | Club Brugge KV | 2:0 (0:0) | ||
| R | Club Brugge KV | - | Rosenborg BK | 4:2 (1:1) | ||
| H: 12.08.1998 20:15 | R: 26.08.1998 20:15 | Sieger: Rosenborg BK | ||||
| H | PFC Litex Lovech | - | Spartak Moskva | 0:5 (0:0) | ||
| R | Spartak Moskva | - | PFC Litex Lovech | 6:2 (3:1) | ||
| H: 12.08.1998 20:15 | R: 26.08.1998 17:00 | Sieger: Spartak Moskva | ||||
| H | Maribor Teatanic | - | PSV Eindhoven | 2:1 (1:0) | ||
| R | PSV Eindhoven | - | Maribor Teatanic | 4:1 (1:1, 2:1, 4:1) n.V. | ||
| H: 12.08.1998 20:15 | R: 26.08.1998 20:00 | Sieger: PSV Eindhoven | ||||
| H | Olympiakos Piraeus | - | Anorthosis Famagusta | 2:1 (2:0) | ||
| R | Anorthosis Famagusta | - | Olympiakos Piraeus | 2:4 (1:0) | ||
| H: 12.08.1998 20:30 | R: 26.08.1998 20:00 | Sieger: Olympiakos Piraeus | ||||
| H | Bayern München | - | FK Obilić | 4:0 (0:0) | ||
| R | FK Obilić | - | Bayern München | 1:1 (0:0) | ||
| H: 12.08.1998 20:30 | R: 26.08.1998 20:30 | Sieger: Bayern München | ||||
| H | Sturm Graz | - | Újpest FC | 4:0 (1:0) | ||
| R | Újpest FC | - | Sturm Graz | 2:3 (1:1) | ||
| H: 12.08.1998 20:30 | R: 26.08.1998 20:30 | Sieger: Sturm Graz | ||||
| H | Manchester United | - | ŁKS Łódź | 2:0 (1:0) | ||
| R | ŁKS Łódź | - | Manchester United | 0:0 (0:0) | ||
| H: 12.08.1998 20:45 | R: 26.08.1998 21:05 | Sieger: Manchester United | ||||
| H | Celtic FC | - | Croatia Zagreb | 1:0 (0:0) | ||
| R | Croatia Zagreb | - | Celtic FC | 3:0 (2:0) | ||
| H: 12.08.1998 20:45 | R: 26.08.1998 20:30 | Sieger: Croatia Zagreb | ||||
| H | Inter | - | Skonto FC | 4:0 (3:0) | ||
| R | Skonto FC | - | Inter | 1:3 (1:1) | ||
| H: 12.08.1998 20:45 | R: 26.08.1998 20:00 | Sieger: Inter | ||||
| H | SL Benfica | - | Beitar Jerusalem | 6:0 (2:0) | ||
| R | Beitar Jerusalem | - | SL Benfica | 4:2 (2:1) | ||
| H: 12.08.1998 22:00 | R: 26.08.1998 17:00 | Sieger: SL Benfica | ||||
