Not content with the Libertadores win itself, Olimpia went on to win the 1990 Supercopa Sudamericana, a tournament reserved only for the best teams in South America. They did this by defeating Nacional de Montevideo in the finals with a 6–3 aggregate score. In that same year, Olimpia played the Intercontinental Cup final in Japan against the European champion AC Milan, losing 3–0. Because Olimpia won both the Libertadores and Supercopa in the same year, they automatically won the Recopa Sudamericana of 1990. The achievement of all the mentioned international titles in 1979 and 1990 established Olimpia as one of the most respected and traditional teams in South American football. In 1991 Olimpia reached the Copa Libertadores final for the third time in a row but lost the finals against Colo-Colo. Amongst other trophies won by Olimpia at the time, the club were crowned undefeated champions of the 1992 Torneo República, with Roberto Perfumo as team manager.