The Hulk wanders in the forest, not knowing that the military is once again trying to capture him. They attack with gas missiles, and he jumps in a river to avoid it. Then he leaps away. However, while he is in mid-leap, high in the air, his heart suddenly stops, and he dies (really!).
The army can't find his body, as it falls in an inacessible ravine. One wonders why they are actually trying to capture him anyway; the other replies that they have to, it's in the budget!
Harokin, leader of the einherjar, leads his now-scattered army away after the destruction of the earthquake last issue. They see the giant moving mountain that Valkyrie entered last issue, and can't believe their eyes.
Inside, Ollerus the Unmerciful goes to visit his captive, Valkyrie (whose spirit inhabits the body of the human Barbara Norriss; Norriss' spirit now inhabits Val's original Asgardian body). Val attacks Ollerus, but he and his magician servant defeat her and lock her back up.
Hellcat and Nighthawk drive along a winging mountain pass in her car. They are distracted, and drive off the road. They die in the crash, but don't realize it right away, as they turn into ghosts.
Norriss, in Val's body, shows up and brings them to Valhalla.
Ollerus has been collecting dead humans' spirits to fight for him in his army; he can strike them down from afar using a death ray from his sceptre. Val's vision from the Norns begins to come true.
Val tricks her guards, and grabs one of their pole-arms. She punches a hole in the side of the mountain. As she leaves, she is attacked by dragon-like creatures. Harokin shows up and helps defeat them.
Outside, Ollerus gathers his army, which consists of many formidable humans he has killed with his magic, as well as the spirits of the Hulk, Hellcat, and Nighthawk. He tells them that he, and Valkyrie (really Norriss), are fighting to help the Earth and Valhalla.
Note: This issue contains the Hostess Superhero Ad, Captain Marvel Meets The Dreadnought.