In the battle of Werewolves, who will emerge triumphant and free of the curse?
Jack Russell transforms into the Werewolf while caged in a specially modified room in the home of his friend Buck Cowan. The barred window, however, is not enough to contain him, and the beast breaks free.
Elsewhere, Lt. Lou Hackett confronts lawyer Geraldo Kabal regarding a pair of wolf's eye rings, one of which was bequeathed by the hunter Joshua Kane to his friend Hackett. Claiming to know nothing of the origins of the rings once owned by his client Kane, Kabal suffers a beating at Hackett's hands. Kabal does tell the detective that Kane's trunkful of arcane objects was once owned by Aelfric the Mad Monk, and that Jack Russell currently has possession of the other ring. The interrogation at an end, Hackett uses the ring to become a werewolf, and viciously slashes the lawyer.
At the Colden House apartments, Raymond Coker, unable to reconstruct his anti-lycanthropic ritual, transforms, and soon finds the Werewolf. Together, they seek the forest, but before they can leave the city, Hackett boxes them in a dead end alley with his car. Again becoming a wolf-man himself, he attacks the pair.
The fight moves to the rooftops, where the Werewolf and Hackett crash through the skylight of a foundary. Hackett nearly sends his opponent into a vat of molten steel, but the lupine Coker leaps down from the roof, knocking Hackett to his death in vat instead.
As the Werewolf climbs to safety, Coker, having killed a fellow werewolf and thereby lifting the curse, becomes human again. The Werewolf, in his own way, bids farewell to his former "wolf-brother".