The All-Star week festivities saw the Canadian Hockey League Top Prospects Game played on February 2, and an exhibition game between the Canadian and American women's national teams on February 3. The Heroes of Hockey game and the Skills Competition were held on February 5. It is to note that the opening face-off for the Heroes of Hockey game were Ted Lindsay and Fleming Mackell, two players who played in the 1st National Hockey League All-Star Game.
The week also was a good sendoff for Wayne Gretzky, who had retired the previous season. His #99 was raised to the rafters, despite him never playing for the hometown Toronto Maple Leafs, as a show of his number's league-wide retirement. Gretzky also made it clear that he would not partake in any oldtimer or Heroes of Hockey game unless it was held in Edmonton, a statement that was realized with the 2003 Heritage Classic three years later.
The Florida Panthers' Pavel Bure and his brother, the Calgary Flames' Valeri Bure, combined for six points (Pavel 3–1–4, Valeri 0–2–2) to lead the World All-Stars to their first All-Star Game victory over the North American All-Stars. Valeri would assist on two of Pavel's three goals to become the first brother combination to set up a goal, since the 1956 All-Star Game when Maurice and Henri Richard hooked up for an All-Star goal. Pavel Bure would become the first Russian-born player to win All-Star MVP honors.