Steve's latest mission has him trying to lure out some people who have managed to infiltrate OSI and make off with some of their new projects. He and another agent are suppose to pose as a married couple and they are transporting a power unit. What they don't know is that they made one of their own look like the agent Steve is working with. And while in transit they grab her and send their ringer in.
While testing a new fuel aboard an experimental space craft, Col. Steve Austin experiences difficulties while preparing to land and is pulled off course to splash down near a remote island in the Pacific. There, he attempts to contact Oscar at OSI to inform him of his whereabouts, but when another government agent shows up and identifies himself as Oscar's replacement, the Colonel is shocked to learn that 6 years have supposedly passed, Oscar is dead and he has been declared a traitor after supposedly defecting to the Soviet Union.
When a new alloy is stolen, Oscar sends Steve to investigate. He eventually learns that the ones who stole the alloy have used it to recreate the Russian space probe, he encountered before. Now they have to find a way to stop it.