Course disputée sur le circuit de Estoril
| Position | Numéro | Pilote | Team | Temps | Tours | Points | Départ |
|---|---|---|---|---|---|---|---|
| 1 | 46 | Valentino Rossi | Nastro Azzurro Team | 47'25.357 | 28 | 25 | 3 |
| 2 | 65 | Loris Capirossi | West Honda Pons | 47'27.113 | 28 | 20 | 2 |
| 3 | 5 | Garry McCoy | Red Bull Yamaha WCM | 47'39.387 | 28 | 16 | 9 |
| 4 | 7 | Carlos Checa | Marlboro Yamaha Team | 47'49.694 | 28 | 13 | 8 |
| 5 | 3 | Max Biaggi | Marlboro Yamaha Team | 47'56.705 | 28 | 11 | 1 |
| 6 | 1 | Kenny Jr Roberts | Telefonica Movistar Suzuki | 47'57.282 | 28 | 10 | 11 |
| 7 | 17 | Jurgen vd Goorbergh | Proton Team KR | 48'02.497 | 28 | 9 | 5 |
| 8 | 19 | Olivier Jacque | Gauloises Yamaha Tech3 | 48'06.400 | 28 | 8 | 15 |
| 9 | 56 | Shinya Nakano | Gauloises Yamaha Tech3 | 48'15.630 | 28 | 7 | 14 |
| 10 | 10 | Jose Luis Cardoso | Antena 3 Yamaha d\'Antin | 48'23.584 | 28 | 6 | 16 |
| 11 | 12 | Nobuatsu Aoki | Arie Molenaar Racing | 48'52.496 | 28 | 5 | 17 |
| 12 | 14 | Anthony West | Dee Cee Jeans Racing Team | 48'52.816 | 28 | 4 | 18 |
| 13 | 16 | Johan Stigefelt | Sabre Sport | 47'52.105 | 27 | 3 | 20 |
| 14 | 18 | Brendan Clarke | Shell Advance Honda | 48'14.314 | 27 | 2 | 22 |
| 15 | 21 | Barry Veneman | Dee Cee Jeans Racing Team | 48'24.088 | 27 | 1 | 21 |
| 16 | 41 | Noriyuki Haga | Red Bull Yamaha WCM | 42'47.195 | 3 | 0 | 13 |
| 17 | 9 | Leon Haslam | Shell Advance Honda | 31'34.948 | 10 | 0 | 19 |
| 18 | 28 | Alex Criville | Repsol Ypf Honda Team | 20'59.470 | 16 | 0 | 12 |
| 19 | 15 | Sete Gibernau | Telefonica Movistar Suzuki | 4'50.118 | 26 | 0 | 7 |