Nick Fury lends Captain America, Goliath, Iron Man, Thor and Vision a SHIELD spaceship, despite the Avengers being wanted men because of H Warren Craddock's Alien Activities Commission. They intend to go rescue Captain Marvel, Quicksilver and Scarlet Witch, kidnapped by the Skrulls in #93. (They would presumably also afterwards go after Rick Jones, taken last issue from the Inhumans' city by the Kree. But events next issue will make that moot.)
Thor's hammer Mjolnir powers the ship into hyperspace, and takes them to the Andromeda galaxy, home of the Skrulls, where they pop out just in front of an armada about to set out for Earth. Our heroes somehow make it look like they are part of a large fleet, even though their radar-equivalent image is a lone ship.
The Skrull flagship comes forward to investigate. The Avengers quit their spaceship to attack, Cap and Clint (whose remnant Goliath-power has run out) in 1-man mini-ships, the other 3 under their own power. Goliath stays outside to watch for the rest of the Skrull fleet, while the other 4 break in to the flagship.
The Skrull emperor, on a video-link from the Skrull throneworld, boasts to the Avengers how Captain Marvel is constructing a Kree Omni-Wave Projector for the Skrulls to use as a weapon, to save the lives of the hostage Quicksilver and Scarlet Witch. But the Captain turns out to be a holographic projection from the Omni-Wave, and the real Mar-Vell frees the mutant twins.
The emperor orders the Skrull commander to initiate a contingency plan. Vision beats the commander up, to find out about the plan, and also to elicit the coordinates of the throneworld (because he is desperate to save his love Wanda, which the other Avengers don't know about).
The Skrull tells them that they had originally intended just to capture Earth. But now a ship has been sent to destroy the world. Cap radios Clint to stop that ship, and Barton latches his small craft onto the Skrull vessel as it prepares for hyper-space jump. And he blasts his way in.
Meanwhile Rick Jones is brought before the current Kree ruler Ronan on the Kree homeworld Hala. Ronan recognises Rick from #91 where he helped mess up a Kree plot. Ronan shows Rick a fleet of ships intending to capture earth for the Kree or destroy it. He says that Earth happens to occupy a strategic position between the 2 empires.
Rick is imprisoned with the Kree Supreme Intelligence, whom Ronan deposed as ruler in #89. The Intelligence is composed of the best minds from Kree history. He has been mentally influencing events since his captivity. The top-level Kree and Skrulls are shielded from his influence, so he has concentrated on the Earth.
The Supremor tells Rick he sent the vision in #92 which impelled Rick to get involved in the current situation. In #93 he prevented Captain Marvel from realising that Carol Danvers was the Super-Skrull before the Skrull could capture him and take him to the Skrull throneworld. Last issue he caused a Kree to capture Rick and bring him here. He also says that he indirectly caused H Warren Craddock to hound the Avengers from #92.
Suddenly Rick is pulled into the Negative Zone to face Annihilus. With a vision of Captain Marvel telling Rick he's sorry.