This event featured five teams competing in a round-robin format, where each team played against every other team in the tournament. At the end of the round-robin format, the team with the highest number of points won the championship. The winners (Brazil) and runners-up (Venezuela) qualified for the 2003 FIVB Volleyball Men's World Cup in Japan.
Match won 3–0 or 3–1: 3 match points for the winner, 0 match points for the loser
Match won 3–2: 2 match points for the winner, 1 match point for the loser
Argentina
Chile
Paraguay
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