PREVIOUSLY: Peter Parker/Spider-Man has had to cope with more than his share of problems over the last few issues. Firstly, he had to search the whole City of New York for Vermin, who escaped from the Ravencroft Institute where he was being treated for mental problems. Then he had to deal with the fact that his best friend, Harry Osborn, followed in the footsteps of his father, Norman Osborn, and took over the mantle of the Green Goblin.

Although Peter Parker/Spider-Man managed to capture Vermin and send him back to Ravencroft, where he currently is doing amazing progress, he was unable to stop Harry from leaving the City to parts unknown.

In the last issue of Spectacular Spider-Man, Spidey was reluctantly forced to team up with the Frog-Men to defeat Walrus and the White Rabbit, who were causing mayhem in Brooklyn (as part of their plan to lure the Frog-Men out of hiding).

Elsewhere, Peter Parker, as Spider-Man, makes his way into an abandoned warehouse, which was one of the Green Goblin's secret hideout. But as he goes through the warehouse, looking for clues on the Goblin's current whereabouts, he finds nothing but an old Goblin mask covered in dust and spider webs. Disappointed, Spidey leaves the warehouse and web-slings into the night, pondering about whether or not he made a mistake when he allowed Harry to leave.

Meanwhile, in an abandoned silo, which the Vulture used as a hideout in Amazing Spider-Man #241, Toomes is beating the crap out of Gregory Bestman, who stole from him years ago. Bestman is begging him to stop and offers to give him all the money he could ever dream of. Toomes smacks him for being insolent and tells Bestman that money cannot make up for what he did to him. He then confesses that he is dying of cancer and that there is not a thing the doctors can do about it (the cancer was caused by the electromagnetic field generated by his power-pack; the same power-pack that allows him to fly and enhances his strength). He goes on saying that he wants to die with a clear conscience and that consequently, the two of them must make their peace. Bestman agrees with Toomes but nonetheless Toomes breaks Bestman's neck.

Meanwhile in Forest Hills, Queens, Mary Jane and Aunt May are having a discussion about family over a cup of tea. The conversation ends with MJ telling May that one day she will have a granddaughter (How ironic!).

The Vulture is perched atop a building next to a gargoyle. He is reiterating the fact that he has unfinished business to take care with an old woman (i.e. Aunt May). Then he sits silently, staring into nothingness. Then, standing up and spreading his wings, he yells out that he does not want to die. At that moment, Spider-Man happens to be swinging nearby; the Vulture decides to attack him. Lost in thoughts, Spidey suddenly feels his spider-sense buzzing like mad, warning him of danger. On cue, the Vulture swoops down in an attempt to hit him. Spidey dodges this initial attack, though impressed by the Vulture's improved speed. He then swirls around a horizontal flagpole, picking up momentum, and throws himself after the Vulture, whom he snags with a web-line. The Vulture takes flight, trying to shake him loose, but Spidey uses the Vulture's thrust to climb up his web-line and grab hold of the Vulture's power pack. Amazingly, the Vulture manages to get rid of Spidey and throw him down towards the ground below. Spidey manages to stop his fall by grabbing the head of a stone gargoyle protruding from a nearby building. Holding on to the gargoyle, his spider-sense continues to buzz; the Vulture is heading towards him. Surprisingly however, the Vulture does not hit Spidey but simply flies by at amazing speed and utters the words "watch your back" to Spidey. Then he appears to fly off into the night. Knowing that trying to catch up to the Vulture, given the weather conditions and how fast he is, is pretty much useless, Peter/Spidey makes his way to his Aunt's house in Forest Hills, Queens, where he is expected for supper. As he disappears into the horizon, the Vulture comes out of hiding (behind a gargoyle) and rejoices in the fact that he can peck at him bit by bit by bit. The Vulture then takes flight, as he has more pressing business to attend to (i.e. the old woman known as Aunt May).

A short time later, at Aunt May’s house, Aunt May walks Peter and Mary Jane out and locks the door behind them. She then walks upstairs to her bedroom and opens the door. Inside, perched on the windowsill is the Vulture.

To be continued.