Ullrich was in the elite group with a supposed to be unbeatable Frank Vandenbroucke, who had broken (both?) his wrist(s) earlier in the race and Oscar Camenzind in Verona. All chances of doing the mythical double faded when a very young, very unknown Oscar Freire attacked and was never to be seen again.
There's a funny story to this, Ullrich actually worked for Vandenbroucke in the road race.
Telekom didn't plan to go for GC in the Vuelta beforehand but suddenly Ullrich was in the lead and his support terrible. Pevenage then made a deal with Vandenbroucke that he would work for Ullrich where he could while still going for stage wins - this was the legendary third week Vuelta where Vandenbroucke just was unstoppable - and Ullrich would work for him in the road race. Frank did - riding a steady high tempo on the relevant stages at the front of the group, preventing the Spanish opponents from attacking - and Ullrich returned the favor in the road race, covering every attack. But in the end Vandenbroucke didn't have it because of the crash.
From 1:07:30 on up until the end you can watch how Ullrich marks every attack and pulls everyone along haha, Sherwen and Liggett are super confused on why he's doing so much work. It also shows that despite monstrous legs he never was the smartest tactically, because the one moment Vandenbroucke and Camenzind get a gap he doesn't realize that he should let the wheel go and goes with them, towing everyone along.