World number one Ronnie O'Sullivan won the tournament defeating Ian McCulloch by nine frames to five (9–5) in the final.

Mark Williams, who won the same event under the name LG Cup the year before, lost in the first round.

[2] Sponsored by totesport for the first time after signing a one-year contract announced the day before the event started,[5] it had a prize fund of £400,000 and was broadcast on the BBC and Eurosport.

[2] The qualifying rounds were played between players on the main tour ranked 33 and lower for one of 32 places in the final stage at Pontin's Snooker Centre in Prestatyn, Wales.

[6] The other successful qualifiers included the likes of Mark Selby, Barry Hawkins, Shaun Murphy and Neil Robertson.

World number 51 Andy Hicks won against the UK champion Matthew Stevens 5–1, compiling two century breaks and three half-centuries in the 72-minute match.

David Gray whitewashed Lee Walker 5–0, while Joe Perry beat Pakistan's Shokat Ali 5–1.

"[10] Seven-time world champion Stephen Hendry prevailed 5–4 over Jamie Burnett in a narrowly fought contest.

Burnett, the world number 49, was 4–3 ahead and had potted the final red, but he missed the black, however, and Hendry forced a deciding frame which he won.

[10] Breaks of 75, 61 and 56 enabled 2002 world champion Peter Ebdon to claim a 5–2 victory over Simon Bedford.

Nigel Bond defeated Gerard Greene 5–2, while Anthony Hamilton overcame Jimmy Michie by the same scoreline.

[11] Williams, the world number two, was the highest ranked player to lose in the round when he lost 2–5 against Michael Judge.

In the fifth frame, at 2–2, Williams was 64–0 ahead but a black ball clearance of 70 gave Judge the lead, who went on to win the match.

[12] World number four and Masters champion Paul Hunter made breaks of 108 and 127 in defeating Darren Morgan 5–3.

[18] In a match in which the deciding frame lasted 64 minutes and ended past midnight, Alan McManus overcame Fergal O'Brien 5–4.

Graeme Dott, the surprise runner-up at the World Championship, emerged a 5–4 winner over Ryan Day.

[19] O'Sullivan overcame a chest infection to beat Joe Swail 5–1, but missed his post-match press conference.

Maguire, the Snooker Writers' Association Young Player of the Year, saw off Walden 5–3 and said of the chalk incident "I made sure I had it this time.

"[25] Another whitewash occurred when Wattana was defeated 0–5 by Hunter, a match eight minutes longer than O'Sullivan's, whom he would face in the semi-finals.

"[25] Judge beat Perry 5–1 to face McCulloch in his first ranking event semi-final, and became the fourth Irish player to achieve this feat after Eugene Hughes, Doherty and Fergal O'Brien.

McCulloch achieved runs of 132 and 89 after Judge hit a kick shot on a red ball that went away from its projected path on his way to victory.

[31] After the match O'Sullivan said he could still improve: "I have set myself high standards and I don't think I was firing on any cylinders.

The sixth frame lasted 36 minutes, when O’Sullivan struck in the pink to a distant pocket before clipping in a tricky black for a 5–1 lead.