Argentina managed to emulate their northern neighbors with the 1995 edition being an all-Argentinian affair. Independiente, led by Jorge Burruchaga, managed to consecrate themselves winners after defeating Carlos Bianchi's legendary Vélez Sársfield 1–0 in Tokyo. Independiente participated in a second, consecutive final only to lose the title to Grêmio after being defeated 4–1. The 1997 edition was won by a Vélez Sársfield team that bowed out from the international limelight with their last title. Having failed to win the trophy in 1992 and 1993, Cruzeiro comfortably won the 1998 edition that was played as part of the Copa Mercosur. This final series was played two years after the participating teams won their corresponding qualifying tournaments.