The story:
The wealthy Prince Hali of Halinai is very proud of his stables, especially Tancred, the world's fastest horse, and thus becomes very animated when his aide returns from the jungle having seen an equally magnificent stallion called Hero.

Determined to get Hero for himself, prince Hali cajoles the Phantom to his palace with Diana as bait. In the end the Phantom has no choice but to allow a track race between Tancred and Hero, unaware that the prince has a deadly card up his sleeve...