Jim picks up his tape briefing at a welding shop on the pier. The infamous Stefan Prohosh, head of internal security for a Communist country, has been demoted to minister of culture. Prohosh plans to regain power by arranging for the theft of a new alloy sample from a Western laboratory. He had hidden the sample in a metal sculpture, titled The Phoenix, and plans to trade it to a major Communist nation in return for their backing his bid for power. The IMF must acquire the sample and discredit Prohosh.
Jim meets with the usual team for their final briefing. Cinnamon tests a lipstick that triggers a shot in a piece of glass. Barney has properly scratched up the butt of a rifle, and Jim tells Rollin that he and Cinnamon will have to keep Prohosh busy for three hours. Barney has a small motion sensor ready and Jim assures everyone that the shaped charge is harmless. They have two detonators: one for Jim and one for Prohosh.
At the museum of art, Rollin sets up across the street in an empty apartment and places a rifle on a mount. Willy poses as a window cleaner and scrubs the window between Rollin’s rifle and the interior. Cinnamon, posing as a sketch artist, is in the museum and watches as Prohosh supervises and tells his aide Janos that no one can stop him, even the chairman that demoted him. Cinnamon uses a concealed electronic drill to make a hole in the wall and insert a fired bullet. A guard orders Cinnamon out of the way and she puts her sketch of the chairman into a phone booth. Meanwhile, Willy drills a small hole in the window and attaches the trigger device, signals Rollin, and gets into the van with Jim and Barney.
Cinnamon enters the phone booth and calls Rollin, and tells him 10 seconds. She then uses her compact to spot Prohosh, takes out her lipstick, and triggers the bullet charge. Everyone hits the ground and then Prohosh tells his men to find the assassin. Cinnamon takes the stairs, stopping to break the heel off of her shoe and then leave it behind. Meanwhile, Janos finds a guard who saw the puff of smoke from the apartment and goes to investigate. Prohosh calls the security bureau and Barney intercepts the call. Jim says that he’ll dispatch a team to investigate the incident and tells him to stay in his office until they arrive.
Janos and the guard burst in and catch Rollin in the act, and they inform him that Prohosh is still alive.
Prohosh’s men finish delivering the crate. Meanwhile, Prohosh himself remain in his office and has a drink to steady his nerves. Janos and the guard bring Rollin in and Prohosh slaps him.
Cinnamon leaves her other shoe in the museum basement and continues her escape.
Prohosh interrogates Rollin, demanding to know who paid him. Rollin insists that he was working alone as a patriot, and Prohosh boasts that he still lives. He then leaves to check on the sculpture.
Cinnamon hides in the basement and waits.
Prohosh confirms that the sculpture is in place and tells the captain to have the guards check the room on each tour of the wing until the chairman arrives in an hour. Meanwhile, Jim, Barney, and Willy arrive posing as the internal security team. They go to Prohosh’s office and the paranoid minister has his guard relieve them of their weapons before checking their identity cards. Prohosh explains that nine months ago three men came to kill him, posing as internal security men. Once he’s satisfied, Prohosh points out that they already have the assassin and there’s nothing to investigate. Janos shows them Rollin’s rifle and Jim demands to see the foyer where the shooting took place. When Prohosh objects, Jim insists, saying that he want to be sure everything is safe for the Chairman’s arrival. Barney points out the scratch marks on the rifle, which indicate it was held in a clamp, and Jim insists that Prohosh accompany them.
In the foyer, Willy finds the planted bullet and Jim notes that the assassin couldn’t have seen Prohosh through the stained glass window. Rollin measured the shot in advance and clamped the rifle into position, which means that he had an accomplice in the museum to signal him when to shoot. Jim finds Cinnamon’s sketch kit and orders a search of the building. Willy and Barney order the guard out of the sculpture room, and then put the motion sensor in the ashtray by the door. Once inside with the sculpture, they place lights on the base, pointing up at the sculpture. Next, they remove their suits, revealing plain black overalls beneath.
Prohosh and Jim return to Prohosh’s office and Jim orders Rollin to identify his accomplice. Rollin insists that he operated alone but Jim doesn’t believe him.
Willie and Barney don black hoods and gloves
The guards find Cinnamon’s broken shoe in the stairwell. Meanwhile, Cinnamon goes to the furnace control box and turns up a gauge.
When the guard passes the ashtray and the motion sensor, Barney and Willy move behind the statue and freeze. Once the guard continues on, the two agents begin searching the 300 steel bars in the sculpture to find the one with the alloy sample... and they only have 40 minutes. Using a portable sensor, Barney finds the alloy and they mark it.
Janos offers to torture Rollin, but Jim insists that it is a matter for internal security. Prohosh admits that he misses the old days when they’ start with torture.
The guards continue into the basement and find Cinnamon’s other shoe.
Barney and Willy assemble blowtorches and begin disassembling the sculpture and reassembling it the way they want.
The guards close in on Cinnamon, who leaves a trail of items for them to find. She then makes a noise and lets herself be captured. They take her to Prohosh’s office and Jim slaps her a bit until they confess that they are brother and sister.
Barney is using spray paint to cover up the scorch marks when the guard comes by again. They face the wall and stay absolutely still. Standing against the black curtains, with the lights pointed on the sculpture, the guard is unable to see them. Once he leaves, the two agents go back to work.
The furnace begins to overheat. In his office, a sweaty Prohosh demands to know of Rollin was going to kill the chairman, and Rollin insists that the shooting wasn’t political. Prohosh tells Janos to check on the furnace and removes his jacket. While Prohosh interrogates Cinnamon, Jim slips one of the detonators into the jacket.
The guard passes by the sculpture room and stops to talk to a cleaning woman. As Barney and Willy pose against the wall again, the cleaning woman dumps out the ashtray and Barney realizes that they’ve lost the signal. The guard looks in again and fails to see them, but the agents realize that they’ll have to take their chances if they’re to finish by 5 p.m.
With 20 minute remaining, Jim finally “breaks” Cinnamon. She says that Prohosh and his men butchered the people in their town while she and Rollin were in the fields working. Rollin lunges at Prohosh and Janos and the guard arrive and pry him off.
As Willy removes a key piece, another guard arrives and convinces the guard at the door to let him see the famous sculpture. The agents overhear him talking and Willy has no choice but to support the key piece, which weighs several hundred pounds. He and Barney freeze while the guards approach the sculpture. They fail to see Willy, who is weakening under the strain. The guards finally leave and Barney finishes the last two cuts with five minutes remaining.
Jim fills out his report and insists on staying in case Rollin and Cinnamon have accomplices that are there to kill the chairman.
After taking the pipe with the alloy, Barney and Willy replace several pieces of piping with their own prepared duplicates, rigged to explode.
Jim puts Janos in charge of Rollin and Cinnamon and goes with Prohosh to greet the chairman. Prohosh assembles his men and they greet the Chairman. The ruler mockingly taunts Prohosh on his removal from the seat of power, and then proceeds to the sculpture room. Realizing his teammates need another minute or two, Jim discusses his father’s history with the chairman.
Barney and Willy come out just in time and Prohosh shows off the sculpture to the Chairman. Barney tells Prohosh that Janos asked him to call back. He agrees and Barney accompanies him to the phone. Meanwhile, Jim suggests that the Chairman view the statue from further back. He then secretly triggers his own detonator and the statue explodes. Prohosh runs back in while Barney and Willy slip away. The Chairman is angry that Prohosh was called away, and Prohosh explains that he was called away. Jim finds the remote control detonator in the wreckage of the sculpture, and the Chairman, already suspicious of his former head of internal security, has the guards search Prohosh.
Willy and Barney go to Prohosh’s office and take out the guard while Rollin knocks out Janos.
The guards find the detonator on Prohosh and Jim slips away while the Chairman tells Prohosh that there is only way to deal with a fool and a traitor. He has the guards take him away while Jim and the others drive away.
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