Race held at the Phillip Island circuit
| Position | No. | Pilot | Team | Brand | Time | Laps | Points | Start |
|---|---|---|---|---|---|---|---|---|
| 1 | 4 |
Max Biaggi
|
Marlboro Yamaha Team | Yamaha | 42'29.792 | 27 | 25 | 12 |
| 2 | 65 |
Loris Capirossi
|
Emerson Honda Pons | Honda | 42'29.974 | 27 | 20 | 5 |
| 3 | 46 |
Valentino Rossi
|
Nastro Azzurro Team | 42'30.080 | 27 | 16 | 8 | |
| 4 | 10 |
Alex Barros
|
Emerson Honda Pons | Honda | 42'30.218 | 27 | 13 | 2 |
| 5 | 24 |
Garry McCoy
|
Red Bull Yamaha WCM | Yamaha | 42'31.677 | 27 | 11 | 6 |
| 6 | 6 |
Norick Abe
|
Antena 3 Yamaha d\'Antin | Yamaha | 42'33.610 | 27 | 10 | 11 |
| 7 | 2 |
Kenny Jr Roberts
|
Telefonica Movistar Suzuki | Suzuki | 42'33.638 | 27 | 9 | 4 |
| 8 | 99 |
Jeremy McWilliams
|
Aprilia Grand Prix Racing | Aprilia | 42'33.670 | 27 | 8 | 1 |
| 9 | 8 |
Tadayuki Okada
|
Repsol Honda Team | Honda | 42'34.100 | 27 | 7 | 10 |
| 10 | 9 |
Nobuatsu Aoki
|
Telefonica Movistar Suzuki | Suzuki | 42'42.374 | 27 | 6 | 13 |
| 11 | 55 |
Regis Laconi
|
Red Bull Yamaha WCM | Yamaha | 42'45.731 | 27 | 5 | 3 |
| 12 | 17 |
Jurgen van den Goorbergh
|
Rizla Honda | Honda | 43'10.212 | 27 | 4 | 17 |
| 13 | 56 |
Tekkyu Kayo
|
F.C.C. TSR | 43'35.951 | 27 | 3 | 15 | |
| 14 | 31 |
Tetsuya Harada
|
Aprilia Grand Prix Racing | Aprilia | 43'45.059 | 27 | 2 | 19 |
| 15 | 15 |
Yoshiteru Konishi
|
F.C.C. TSR | 42'30.793 | 26 | 1 | 18 | |
| 1 | 1 |
Alex Criville
|
Repsol Honda Team | Honda | 3 | 0 | 9 | |
| 2 | 33 |
David Tomás
|
Queroseno Racing Team | 6 | 0 | 20 | ||
| 3 | 68 |
Mark Willis
|
Proton Team KR | 7 | 0 | 16 | ||
| 4 | 7 |
Carlos Checa
|
Marlboro Yamaha Team | Yamaha | 10 | 0 | 7 | |
| 5 | 5 |
Sete Gibernau
|
Repsol Honda Team | Honda | 20 | 0 | 14 |
Phillip Island motorcycle circuit