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Date: 16 February 1998
| Rank | Name | Nation | Time |
| 1 | Katja Seizinger | GER | 1:28.89 |
| 2 | Pernilla Wiberg | SWE | 1:29.18 |
| 3 | Florence Masnada | FRA | 1:29.37 |
| 4 | Mélanie Suchet | FRA | 1:29.48 |
| 5 | Svetlana Gladysheva | RUS | 1:29.50 |
| 6 | Picabo Street | USA | 1:29.54 |
| 7 | Régine Cavagnoud | FRA | 1:29.72 |
| 8 | Alexandra Meissnitzer | AUT | 1:29.84 |
| 9 | Katrin Gutensohn | GER | 1:29.96 |
| 9 | Hilde Gerg | GER | 1:29.96 |
| 11 | Ingeborg Helen Marken | NOR | 1:30.19 |
| 12 | Heidi Zurbriggen | SUI | 1:30.25 |
| 13 | Varvara Zelenskaya | RUS | 1:30.38 |
| 14 | Carole Montillet | FRA | 1:30.65 |
| 15 | Stefanie Schuster | AUT | 1:30.73 |
| 16 | Trude Gimle | NOR | 1:30.87 |
| 17 | Jonna Mendes | USA | 1:30.89 |
| 18 | Michaela Dorfmeister | AUT | 1:31.17 |
| 19 | Kate Pace Lindsay | CAN | 1:31.30 |
| 20 | Bibiana Perez | ITA | 1:31.43 |
| 21 | Alessandra Merlin | ITA | 1:31.44 |
| 22 | Catherine Borghi | SUI | 1:31.45 |
| 22 | Melanie Turgeon | CAN | 1:31.45 |
| 24 | Špela Bracun | SLO | 1:31.54 |
| 25 | Janica Kostelić | CRO | 1:31.97 |
| 26 | Morena Gallizio | ITA | 1:32.22 |
| 26 | Katie Monahan | USA | 1:32.22 |
| 28 | Kirsten Clark | USA | 1:32.25 |
| 29 | Yekaterina Nesterenko | RUS | 1:32.54 |
| 30 | Corinne Rey-Bellet | SUI | 1:32.92 |
| 31 | Lucie Hrstková | CZE | 1:33.00 |
| 32 | Anna Larionova | RUS | 1:34.36 |
| 33 | Yuliya Kharkivska | UKR | 1:35.60 |
| 34 | Carola Calello | ARG | 1:36.71 |
| Did not finish | |||
| Renate Götschl | AUT | ||
| Isolde Kostner | ITA | ||
| Regina Häusl | GER | ||
| Kristine Kristiansen | NOR | ||
| Disqualified | |||
| Mónika Kovács | HUN | ||