On the Fazerspares website which lists parts for '97' to '03 there's a passenger grab rail on there, so as that's where it's fitted i can't see why not?
Word of warning though, they're not designed for a lot of weight (recommended maximum 2.5kg), as i found out one day when my topbox overtook me as i slowed down a few years ago near my work!
It wasn't particularly heavy, it was just a few years of going over speed bumps in the surrounding area that took it's toll, it just snapped clean in half.