| Northern | ||||||||||||||
| Rk | Team | Affiliate | W | L | Pct | Gbl | RF | RA | Manager | Stadium | Attendance | Top Batter | Top Pitcher | Playoffs |
| 1 | Wilmington Blue Rocks ** | KC | 77 | 61 | .558 | -- | 653 | 619 | Jeff Garber | Daniel S. Frawley Stadium | 321,143 | Brandon Berger (8) | Chris George (7) | Co-League Champions |
| 2 | Frederick Keys | BAL | 67 | 71 | .486 | 10.0 | 699 | 714 | Andy Etchebarren | Harry Grove Stadium | 313,603 | Eddy Garabito (11) | Rick Bauer (4) | |
| 3 | Lynchburg Hillcats | PIT | 64 | 73 | .467 | 12.5 | 680 | 733 | Scott Little | Lynchburg City Stadium | 110,937 | Eddy Furniss (5) | Andy Bausher (11) | |
| 4 | Potomac Cannons | STL | 54 | 85 | .388 | 23.5 | 619 | 718 | Joseph Cunningham | G. Richard Pfitzner Stadi | 209,168 | Andy Bevins (4) | Jason Marr (15) | |
| Southern | ||||||||||||||
| Rk | Team | Affiliate | W | L | Pct | Gbl | RF | RA | Manager | Stadium | Attendance | Top Batter | Top Pitcher | Playoffs |
| 1 | Kinston Indians | CLE | 79 | 58 | .577 | -- | 644 | 569 | Eric Wedge | Grainger Stadium | 124,010 | Mike Edwards (1) | Tim Drew (3) | Lost in Semi-Finals |
| 2 | Myrtle Beach Pelicans ** | ATL | 79 | 60 | .568 | 1.0 | 637 | 552 | Brian Snitker | BB&T Coastal Field | 232,619 | Marcus Giles (2) | Scott Sobkowiak (6) | Co-League Champions |
| 3 | Salem Avalanche | COL | 69 | 69 | .500 | 10.5 | 574 | 600 | Ronnie Gideon | Salem Municipal Stadium | 20,612 | Jody Gerut (3) | Mark DiFelice (1) | |
| 4 | Winston-Salem Warthogs | CHW | 63 | 75 | .457 | 16.5 | 635 | 675 | Jerry Terrell | Ernie Shore Field | 134,764 | Aaron Rowand (7) | Brian Scott (8) | |