Each team played the other five teams once, for a total of five games played by each team and 15 overall in the preliminary round. Placing in the top four qualified a team to move on to the final round.
The top four teams advanced to the final round, where they played each of the other three once. Only the results from this round were used to determine final placing for the top four.
Argentina line-up: Candido Arrua (Santa Fe), Jose Alberto Beltran (Capital Federal), Carlos Jensen Buhl (Capital Federal), Julio Carrasco (Santa Fe), Gustavo Chazarreta (Stgo del Estero), Mario Jimenez (Stgo del Estero), Rafael Lledo (Stgo del Estero), Italo Malvicini (Santa Fe), Marcelino Ojeda (Corrientes), Hector Romagnolo (Capital Federal), Carlos Sanchez (Stgo del Estero), Oscar Serena (Santa Fe). Coach: Saul Ramirez Manfredi.