Masterkova was not able to repeat her feat at the World Championships the next year, as an achilles tendon injury caused her to drop out in the heats of the 1500 metres. Her 1998 season was great again, crowned by a win in the 1500 m at the European Championships. At the 1999 World championships, Masterkova again contested both middle distance events. She won bronze in the 800 m won by Ludmila Formanová but comprehensively won the 1500 metres title. This would be her last major success. Although Masterkova participated in the Sydney Olympics, she abandoned her 1500 metres heat. She announced her retirement at Znamensky Indoor stadium on 7 January 2003.