In the middle of a late-night sparring session at the cemetery, Buffy and Giles discover a ring with a mysterious engraving in it. The scene shifts to the Master Vampire's lair, where the Master explains that the Anointed One -- the Master's greatest warrior and the Slayer's greatest foe is due to rise from the ashes of five dead. The next day, Buffy is asked out by a handsome, poetry-loving classmate named Owen who she is smitten with. Buffy's good mood is spoiled by Giles, who's connected the engraving in the ring to a violent prophecy which is about to be fulfilled... that night. Buffy very reluctantly joins Giles at the cemetery, but nothing happens there. Meanwhile, an airport van crashes and although the five passengers -- including a burly, tattooed man who's been ranting incoherently -- survive the wreck, they die when the van is overtaken by vampires.

The next day, Owen and Buffy decide to try again, much to Giles' (and a very jealous Xander's) chagrin.

As Buffy prepares for her date, Giles comes over with the news: five people were killed the night before, just as the prophecy described, and one of them -- the tattooed man -- was wanted for murder. This leads Giles to believe that he is the Anointed one. Buffy insists on going on to the Bronze with Owen, but Willow and Xander agree to go along with Giles to the Sunnydale Funeral Home so he can check the bodies for clues. Giles is greeted by vampires, and though Willow and Xander try to help him, they realize this is Buffy's domain. They run off to the Bronze to fetch her, but she's already hooked up with Owen. Unable to blurt out their news, they merrily suggest to Buffy a jaunt to the funeral home.

Once they get there, they're shocked to find Owen has followed them. As Buffy looks around for clues, the tattooed man -- now a vampire -- arises from a gurney and tears the place apart. Buffy kicks him, knocking him on a gurney, which hits the cremation oven and slides him right in. The next day, Owen is pumped up about the previous night's adventures and canít wait for the next date. Realizing she almost got him killed, Buffy reluctantly gives him the "let's be friends" speech. Giles commends her on her maturity, and reminds her that she did prevent a disaster. But all is not resolved. We see the Master in his lair, welcoming the Anointed one: it is an eight-year-old boy from the van accident, who smiles to reveal a mouth full of fangs.