Intergalactic bounty hunter Lobo is employed to capture the Man of Steel for the rare-species-collecting Preserver, who is obsessed with keeping endangered species in captivity to protect them and prevent their extinction. Superman, the last Kryptonian, is the latest catch for his collection. Upon realizing that Lobo is the last Czarnian (having killed all the others himself), he betrays the bounty hunter and adds him to the collection as well.

Clark's high school sweetheart Lana Lang, who is now a famous fashion designer, comes to Metropolis where she and Lex Luthor become a celebrity couple. Lana still has strong feelings for Clark; even worse, she had long ago connected Clark to Superman. Hoping to become his sidekick (and lover), she puts her own life in danger by spying on Luthor's arms sales to gain incriminating information.