All the Spider-Women appear in this story, including the first villain to take that identity.
We start with the recently introduced Mattie Franklin stopping a bank robbery (being committed by the “Y2K Gang”–any of my readers young enough to remember that big event?), and posting for cameras.
We then see Jessica Drew, the original Spider-Woman, attacked in Madripoor by an off-screen attacker who saps her powers. (Note that she’s had this happen before, in a perfect comic book: Avengers Annual #10.). The same thing then happens to Julia Carpenter.
And then, finally, Mattie. But when it happens to her, Spider-Man is with her fighting monsters.
But Spider-Woman 4 is not the real big bad.
That would be…
Doctor Octopus. In a new costume, that I can’t say I love.
Spider-Man fights off the baddies, but they escape.
On the last page, Flash Thompson is seen in his apartment getting a visit from an unseen person–we’ll learn about that in the next story.
A notable subplot: Peter Parker is lying to MJ, telling her he is still retired as Spider-Man.