In the skies above Midtown High, the fledgling Spider-Man battles for his life against his very first super-villain: the grotesque Green Goblin! And in the awful aftermath, Harry Osborn will reveal a horrifying secret!
The Green Goblin drops Peter over the city, so that he has to find out if his webshooters really work. They do, of course, and Peter gets back to school where the Goblin is heading too, wondering how he knew his real name. They fight again and Peter takes away the Goblin's cape. The police shoots at the Goblin, which Peter wants to avoid and the Goblin falls down from Brooklyn Bridge into the river. When Peter wants to get him out of there, the police stop him and want to arrest him. He escapes.
Back at the school, he tells the others he was trapped under some debris. Then Harry tells everyone that he thinks the Green Goblin is his father Norman who he saw using his experiments on himself. The police takes him away to take down his story. Peter realizes that Harry is telling the truth and that Norman knows what happened to him. He is unsure what to do but thinks it's over for now anyway, so that he doesn't have to tell Harry about it. But while the police is searching the river for the Green Goblin, a close-up of the water suggests it might not be over yet.