A private jet heads toward Los Angeles. Inside, a mysterious figure run a data search on the man known as Stingray... and finds nothing.
Ray gets a call from a woman who asks to meet with him at a bar, and says that a lot of people in high places could be concerned. Ray meets with the woman, Debbie Sylvera, who reports that as a clerical assistant she's heard about a conspiracy but isn't sure what it is. Debbie agrees to return the favor... then pulls out a gun and tires to kill Ray. He ducks for cover as the woman tries repeatedly to hit him. He gets outside and Debbie chases him outside. She keeps firing until she runs out of bullets. Ray comes after her... and Debbie deliberately jumps in front of a bus.
Ray calls Captain Riskin to call in his favor to identify the woman. He reports that the woman is a psych student at the university with a spotless background. Riskin notes that there have been a half-dozen cases of students who have killed themselves Ray asks him to keep it out of the papers and Riskin reluctantly agrees.
Ray arrives at the dormitory where Debbie stayed, and annoucnes that he's been assigned to the room. Debbie's roommate, Lanie, is not thrilled at the news. Ray claims that Debbie took a leave of absence and Admissions assigned him to the room. As he puts his stuff in the bathroom, he notices that Debbie was taking medicine for ear aches. Lanie ends up giving in, at least temporarily, until they resolve the housing situation. The next day, Ray breaks into the college computers and runs a data search on all of the suicides. The one common factor is that they all took the same class: Abnormal Psych 2, under Professor Brainard. Ray gets into the class where Brainard lectures about psychopaths, and notices Lanie is taking the course. As he dismisses the class he notes that there's still plenty of space for volunteers in lab sessions. Lanie talks to Ray afterward and explains that there's a ten-hour minimum requirement for lab space, and Debbie was part of Brainard's group of dedicated volunteers. Ray convinces Lanie to get him into a lab session.
As the mystery man's plane arrives at Los Angeles, Ray gets into Brainard's lab sessions and and undergoes what is supposedly a simply eye-brain stress test, administering eye drops. However, he's subjected to increasingly violent imagery as well as subsonic impulses. The mystery man arrives and notes that Brainard is coming up with unusual readings from Ray, and says that he knows Ray: he helped create him.
At the local American Historical Archives building, Brainard demands answers but the mystery man notes that Brainard is in no position to question him, as he's providing his boss with programmed killers. He demands answers from Brainard, who says he has five killers ready and the suicides were unavoidable. The mystery man notes that Brainard wouldn't have gone along with it if he'd known everything up front. Brainard assures him there will be no more suicides, and the mystery man admits that he sent Sylvera after Ray. The mystery man calls in an underling, Jensen, to deal with Ray if necessary. Brainard warns against it but has no choice but to give in.
Ray is going over Debbie's paintings, which show a disturbing downward trend into depression. Lanie notes that Debbie started to change, becoming more distant particularly in the last two months. Ray and Lanie walk around the campus and discuss how their considered an item, and Lanie wonders if Ray is a cop. he denies it but as they approach their room, Ray is suddenly overwhelmed with ear aches, the same as Debbie. Ray quickly recovers but as Lanie opens the dorm room door he hears a bolt ratchet back on a gun. An assassin, Jensen, opens fire but Ray gets Lanie out of the line of fire. Ray and Jensen struggle and Jensen heads for the room. Finally he goes after Ray with a flying kick, misses, and goes off the roof, falling to his death. Ray finds prescription ear drops on his corpse and quickly gets himself and Lanie out of there and to a local manor. Ray has it as a favor and he finally explains what happened with Debbie and that it's connected to her ear aches. Brainard's programmed killers make the perfect assassins, able to get into and out of any organization.
Ray has Lanie stay at the manor and goes to talk to Riskin, noting he wants Riskin to put together a unit when he needs it and promsies to call. Ray then barges into Brainard's office to get him nervous while secretly attaching a bug to the professor's phone. Outside, Ray traces the call when Brainard calls his superior and goes to the American Historical Archives building. Meanwhile, Lanie is going through the mail at the manor and finds it all addressed to a Phillip Meeker. She's interrupted when two men chloroform and kidnap her.
Ray arrives at the Archives building and bluffs his way in as a computer repairman, but the mystery villain recognizes him and invites him into his den. It's clear they know each other and the bad guy has his men tape Ray to a chair with one hand free. As they spar over the fact that Ray exposed the villain's illicit operations ten years ago, he's offered a drink. Ray takes the glass but refuses to drink it, and the villain shows him Lanie's necklace then reveals the glass was treated with a contact drug. The villain orders his men to dump Ray out of a helicopter, but they're interrupted when Riskin barges in with a team. The villain says he's with CIA and tells Riskin to get out. Meanwhile, a policeman finds Ray, who asks him for a favor. Riskin orders his men out but when the villain and his men go to find Ray, they discover the policeman has taken his place. Ray has slipped out in the policeman's uniform with the rest of Riskin's men, and reveals he took the precaution of wearing adhesive fake skin on his hands to negate the drug. Riskin demands an explanation and Ray admits that the bad guy may still be connected with the CIA. Ray fails to get hold of Lanie and they see the villain depart in a limo.
Ray and Riskin head for the university and Riskin has his men try to arrest Brainard. Two of his brainwashed students open fire as Riskin and Ray arrive. The policemen are shot down and Riskin tries to cover their rear escape. Ray goes in and is forced to shoot and wound one student. The other one gets the drop on Ray, who calls him out and manages to disrupt his programming, then stop him before he shoots himself. Meanwhile, Brainard has slipped out the back and shoots Riskin when he shows up. Riskin manages to shot Brainard's car and cause it to crash, and Ray makes sure Riskin is okay. Then he demands to know where Brainard's employer is heading.
At a small airstrip, the villain is waiting with a helicopter ready. Ray arrives and the bad guy reveals that he has Lanie in the car and holds a gun to her head. It's a standoff until the villain puts a small explosive charge on Lanie's lap and pops the brake. Ray is forced to run after the limo and get rid of the bomb just in time, as his nemesis flies away.
Later, Lanie and Ray share a few moments back at campus. She figures "Phillip Meeker" is a fake name. It's clear that Ray will be leaving soon, and Lanie notes that he should take the time to enjoy life rather than being constantly on the move. Ray notes that his choices in life don't give him much choice in the matter, and Lanie gives him one of Debbie's paintings as a reminder.
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