The final of the inaugural edition was played between South Africa and West Indies on 1 November 1998 at Bangabandhu National Stadium, Dhaka.
South Africa won the toss and decided to field first.
Philo Wallace and Clayton Lambert opened the after West Indian innings whereas South Africa started their bowling attack with off-spiner Pat Symcox and Steve Elworthy.
West Indies lost their first wicket in the sixth over at 18 runs when Lambert was caught by Symcox at mid-wicket off the bowling of Elworthy.
The next batsman, Chanderpaul, shared 76 runs – the highest partnership of the match – with Wallace taking the total to 94.
Chanderpaul made 27 runs in 54 balls at a strike rate of 50.00.
He was dismissed leg before wicket (lbw), becoming the maiden wicket of Nicky Boje in the match.
Before the drinks break, Symcox had completed his 10 overs conceding only 29 runs without taking a wicket.
Wallace completed his century off 98 deliveries; he scored 103 runs from 102 balls including five sixes and 11 fours.
His second fifty came up in 26 deliveries, and shared 55 runs with Carl Hooper for the fourth wicket.
Wallace was dropped twice in his innings by Jonty Rhodes.
He was stumped by Mark Boucher off the bowling of Cronje.
South Africa were 180 runs for four wicket at that moment.
Hooper continued his innings and shared 13 and 20 runs for the fifth and sixth wicket with Keith Arthurton and Phil Simmons respectively; both of the latters scored eight runs each.
Arthurton was dismissed lbw whereas Hooper and Simmons were caught by Rhodes off the bowling of Kallis.
Hooper made 49 runs in 56 balls including four fours.
West Indies scored 245 all out in 49.3 overs with their last seven players adding only 65 runs to the total.
Kallis achieved his career-best bowling figures of five wickets for 30 runs in 7.3 overs whereas Cronje took two wickets.

Mike Rindel and Daryll Cullinan opened the South African innings with a positive approach.
Rindel was edged twice to the second slip by Dillon.
South Africa were 34 at the end of the fifth over.
West Indian captain Brian Lara then introduced Hooper into the bowling attack.
In his second over, Cullinan was run out on 21 by Arthurton; the team total was 54 runs at that moment.
Boucher, promoted in the order, was beaten on the leg-side by Hooper, and stumped by Ridley Jacobs.
The next batsman, Kallis, scored 37 runs from 51 balls hitting four fours and a six.
He was caught and bowled by Simmons.
South African captain then joined Rindel on the crease.
In the 26th over, a direct throw from Arthurton resulted in the end of Rindel's innings who was one short of his fifty.
The next batsman, Rhodes was caught behind on a fuller from Simmons, scoring 3 runs in 9 balls.
After the dismissal of Rhodes, Dale Benkenstein joined Cronje on the crease.
He shared a partnership of 74 runs with Cronje for the sixth wicket.
Benkenstein scored 27 runs before caught by Hooper at short mid-on off the bowling of Dillon.
Cronje and Derek Crookes scored 61 and 24 (both not out) respectively; South Africa achieved the target in 47 overs.
Simmons took two wickets for 45 runs while Dillon and Hooper got one wicket each.
Kallis was given the man of the match award for his all-round performance.
He was the highest wicket-taker of the tournament with 6 wicket, and second highest run-scorer with 164 from 3 innings.
He was also named the man of the tournament.
With this victory, South Africa won the inaugural edition of the ICC Knock-out Trophy.
The final of the inaugural edition was played between South Africa and West Indies on 1 November 1998 at Bangabandhu National Stadium, Dhaka. South Africa won the toss and decided to field first. Philo Wallace and Clayton Lambert opened the after West Indian innings whereas South Africa started their bowling attack with off-spiner Pat Symcox and Steve Elworthy. West Indies lost their first wicket in the sixth over at 18 runs when Lambert was caught by Symcox at mid-wicket off the bowling of Elworthy. The next batsman, Chanderpaul, shared 76 runs – the highest partnership of the match – with Wallace taking the total to 94. Chanderpaul made 27 runs in 54 balls at a strike rate of 50.00. He was dismissed leg before wicket (lbw), becoming the maiden wicket of Nicky Boje in the match. Before the drinks break, Symcox had completed his 10 overs conceding only 29 runs without taking a wicket. Wallace completed his century off 98 deliveries; he scored 103 runs from 102 balls including five sixes and 11 fours. His second fifty came up in 26 deliveries, and shared 55 runs with Carl Hooper for the fourth wicket. Wallace was dropped twice in his innings by Jonty Rhodes. He was stumped by Mark Boucher off the bowling of Cronje. South Africa were 180 runs for four wicket at that moment. Hooper continued his innings and shared 13 and 20 runs for the fifth and sixth wicket with Keith Arthurton and Phil Simmons respectively; both of the latters scored eight runs each. Arthurton was dismissed lbw whereas Hooper and Simmons were caught by Rhodes off the bowling of Kallis. Hooper made 49 runs in 56 balls including four fours. West Indies scored 245 all out in 49.3 overs with their last seven players adding only 65 runs to the total. Kallis achieved his career-best bowling figures of five wickets for 30 runs in 7.3 overs whereas Cronje took two wickets.
Mike Rindel and Daryll Cullinan opened the South African innings with a positive approach. Rindel was edged twice to the second slip by Dillon. South Africa were 34 at the end of the fifth over. West Indian captain Brian Lara then introduced Hooper into the bowling attack. In his second over, Cullinan was run out on 21 by Arthurton; the team total was 54 runs at that moment. Boucher, promoted in the order, was beaten on the leg-side by Hooper, and stumped by Ridley Jacobs. The next batsman, Kallis, scored 37 runs from 51 balls hitting four fours and a six. He was caught and bowled by Simmons. South African captain then joined Rindel on the crease. In the 26th over, a direct throw from Arthurton resulted in the end of Rindel's innings who was one short of his fifty. The next batsman, Rhodes was caught behind on a fuller from Simmons, scoring 3 runs in 9 balls. After the dismissal of Rhodes, Dale Benkenstein joined Cronje on the crease. He shared a partnership of 74 runs with Cronje for the sixth wicket. Benkenstein scored 27 runs before caught by Hooper at short mid-on off the bowling of Dillon. Cronje and Derek Crookes scored 61 and 24 (both not out) respectively; South Africa achieved the target in 47 overs. Simmons took two wickets for 45 runs while Dillon and Hooper got one wicket each. Kallis was given the man of the match award for his all-round performance. He was the highest wicket-taker of the tournament with 6 wicket, and second highest run-scorer with 164 from 3 innings. He was also named the man of the tournament. With this victory, South Africa won the inaugural edition of the ICC Knock-out Trophy.
1998 ICC KnockOut Trophy Final