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Conservative politician Konstantinos Stephanopoulos was proposed by Political Spring as successor of Konstantinos Karamanlis, who was finishing his second (non-consecutive) term, and was also supported by the ruling PASOK. New Democracy proposed veteran politician Athanasios Tsaldaris [el] as its candidate. Three ballots were required for the election, which all had almost the same result: 181 votes for Stephanopoulos (the MPs of PASOK and Political Spring) and 109 (108 in the second ballot) for Tsaldaris (all but one of ND's MPs). The Communist Party of Greece and one ND MP voted "present".
Stephanopoulos would go on to be re-elected in 2000 as a joint candidate of ND and PASOK, the first time in the history of the Third Hellenic Republic that the ruling party and the main opposition party both supported the same candidate, as well as the first time that an incumbent President was re-elected.