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The Difference is quite large. In Jan. of 1998 the C5 had MANY internal changes. I would buy a 1998 made after Jan of 1998 ONLY. Always try to AVOID buying a first model year Corvette at all costs. The mid to late model year 1998s are like two different cars compaired to 1997s and pre Jan of 1998 built 98s. I would only buy a 1999 or newer C5 if I were you just to be on the safe side. Also AVOID 2001 model year C5s these ate oil like crazy because of a ring problem.
besides all the other links mentioned, the ebcm was moved in front of the engine instead of in the rear behind the mid stowage comp. mid year '98, i don't know what month/day, so if you see a c5(that isn't heavily modded, ie-fuel sys)w/ 2 fuel lines and the ebcm mounted under the hood then it's definetly a '98 as the '99s went to the one fuel line returnless sys--ebcm=electronic brake control module