Release Date: July 1987
 
"Beginnings... and Endings"
Stalker, Quick Kick, Outback, and Snow Job are given the mission to rescue reporter Devlin Winchell from Borovia. They are given cover identities as trade emissaries from separate countries and have weapons to attempt a jailbreak. They reunite with their underground contact, Spigou, who has blueprints of the building, security tips, and weapons for the mission. However, they find out that Winchell has already been sent to the U.S.A. in exchange for a Borovian spy, leaving the Joes with injured members and no successful mission.
Meanwhile, in Denver, Billy confronts his father, Cobra Commander, and leaves despite Fred VII and Raptor's attempts to stop him. He seeks the Blind Master but only finds his assistant Jinx. Cobra Commander realizes he has messed up his son's life and quits, leaving his battle armor behind. However, Fred claims that he gave up his past for Cobra and shoots Cobra Commander in the back. The other Joes watch the news about "western mercenaries" and the State Department denying any connection with them, and Hawk announces that there will be no rescue attempt.
In Borovia, the Joes enter the building and interrogate a guard to find out that Winchell has already been sent to the U.S.A. in exchange for a Borovian spy. They escape in a truck driven by Spigou, but Quick Kick and Snow Job are injured, and Spigou is blown up by a Borovian tank. Meanwhile, in Denver, Billy confronts his father, Cobra Commander, and leaves, seeking the Blind Master. The other Joes watch the news about "western mercenaries" and the State Department denying any connection with them, and Hawk announces that there will be no rescue attempt.