The trademark of The Phantom, a renowned jewel thief, is a glove left at the scene of the crime. Inspector Clouseau, an expert on The Phantom's exploits, feels sure that he knows where The Phantom will strike next and leaves Paris for the Tyrolean Alps, where the famous Lugashi jewel 'The Pink Panther' is going to be. However, he does not know who The Phantom really is, or for that matter who anyone else really is...

Sir James Bond is called back out of retirement to stop SMERSH. In order to trick SMERSH, James thinks up the ultimate plan - that every agent will be named 'James Bond'. One of the Bonds, whose real name is Evelyn Tremble is sent to take on Le Chiffre in a game of baccarat, but all the Bonds get more than they can handle.