Conte was recovering from a cruciate knee ligament injury and watched on as highly-fancied Juventus were beaten 3-1 in the 1996-97 Champions League final by Lambert's Borussia Dortmund, a side which included three former Juve players.
Now the pair are reunited at Molineux on Saturday, when Lambert's Championship Wolves - who have already beaten Stoke and Liverpool in the FA Cup this season - host the Premier League leaders.
"This is one of the three finals that I lost," Conte said.
"We were favourites
I remember that they were the underdog before the game, but they won very well against us.
"He was a good player
I remember very well.
"Revenge is not a good word
Now we started a new career me and Lambert, as coaches.
"I wish for him the best for his career - after this game
For me it will be a great pleasure to shake his hand."
Source : PA