After the Presence’s nuclear bomb destroyed the Defenders underwater Atlantean ship, Namor and Hulk try to help Hellcat and Nighthawk. Hellcat actually gets to Nighthawk first with a air helmet, but is then dragged down by something.

The bomb transmogrified the Presence and his mind-controlled consort, the Red Guardian, into higher beings.

Dollar Bill shows Valkyrie a film he made about himself, telling the tale of his privileged upbringing. She falls asleep while watching it.

Namor fights off the beast that had grabbed Hellcat, and brings her to the surface, while Hulk similarly grabs Nighthawk.

Jack Norriss, the ex-husband of Barbara Norriss, whose body the Valkyrie’s mind inhabits, wants to join SHIELD, but doesn’t know where to find them.

The Defenders manage to make their way to shore, in the Soviet Union. The Presence and the Red Guardian (who was once a member of the Defenders, and is still mind-controlled by the Presence) show up in front of the Defenders.

In the back-up story, Nick Fury is ambushed by some LMDs of himself while in SHIELD headquarters. A figure in a red cloak controls the LMDs. Fury beats some of them, then pretends to be one of the LMDs and tricks the red figure into turning the others off. Fury knocks out the red figure. Taking off its hood, he discovers it is another Fury LMD. He doesn’t know why the LMDs did it, but is concerned about them becoming sentient.