Published: September 1990
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Story Featuring Hulk , Story Featuring Wolverine
Although the front and back covers have different background colors, we consider this a wraparound cover due to the Werewolf's leg wrapping from the back cover to the front cover.
"That's right, Hulk! I'm not Wolverine!"
Mimic tells the Hulk his origin story, how he cheated death and why he now looks like Wolverine.
Story Featuring Werewolf by Night
"Third night, continued: This is how the story ends."
Jack watches his werewolf "children" and the Sword of the Lord kill each other, and has a final encounter with Silver Dagger.
Story Featuring Namor the Sub-Mariner
"The trip back from Neptune's Eye has been long and silent for Namor and Sandra."
Namor and Sandra return to the base to find it destroyed by the sea-monsters. The expedition crew are trapped in a sub that is being attacked by the monsters, until Namor uses the amulet given to him by the old man, which drives the sea monsters away.
Story Featuring Punisher
"He's been up there for hours, waiting. Patient man. He must be getting antsy by now."
A villain sets up a boy with a toy gun hoping that the Punisher will kill him, leaving him open to an ambush.
Letter Column Featuring Marvel Readers Present
"Marvel Comics Presents #49 was better than usual!"
Inside back cover. Letters from Joseph Lawhorn, Len Biehl, and Jeffrey Wilson. Includes a small illustration of Wolverine taken from the cover of the next issue.
Inside front cover. Title page, index, credits, summaries, recaps & indicia.
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