Ying Ke-Feng, head of Peerless Manor, is an expert swordsman whose escort business transports 200,000 taels of silver to the capital each year. This year, however, he is afflicted with an infirmity that renders him unable to use his sword. Rather than give up this important commission and let the martial world know of his precarious health he means to entrust the consignment to two young knights in his manor, Hsiang Ting (Ti Lung) and Yun Piao-Piao (Li Ching). As it happens, these two are also betrothed; clearly they have their swordsmanship in common. At Peerless Manor, everyone is suspicious of malevolent strangers who may be sniffing around the silver transport. So when Le I (David Chaing) appears astride a high-quality charger but otherwise clearly down on his luck, Hsiang Ting thinks Le I may be a spy for the bad guys in the Flying Tiger Manor. It doesn't help that Le I and Yun Piao-Piao hit it off right away. Even or especially when Le I saves Yun Piao-Piao from a Flying Tiger thug, Hsiang is not assuaged. Yun Piao-Piao is torn, though it seems that a certain sisterly compassion finally wins the day when she arranges to reunite Le I with his horse. It's a cute horse, and Le I seems rather attached ... When the silver convoy passes by a pagoda that happens to house the Flying Tiger gang, Chiao Hung, the Flying Tiger chief, tries to steal the shipment. To win the day, Hsiang and Le must fight together, despite their mutual disaffection.