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| U | Newell's Old Boys | - | San Lorenzo | 1:0 (0:0) | ||
| R | San Lorenzo | - | Newell's Old Boys | 1:2 (0:1) | ||
| U: 05.10.1988 | R: 12.10.1988 | Winnaars: Newell's Old Boys | ||||
| U | Nacional | - | América de Cali | 1:0 (1:0) | ||
| R | América de Cali | - | Nacional | 1:1 (0:0) | ||
| U: 05.10.1988 | R: 12.10.1988 | Winnaars: Nacional | ||||
