| Issue | #48 |
| Published | March 1992 |
| Cover Price | 1.75 |
| Pages | 36 |
| Editing | Terry Kavanagh; Mark Powers (Assistant) |
| Notes | Statement of Ownership average # of copies in preceding 12 months: 219,988. |
| Characters | Captain Britain; Meggan; Phoenix II [Rachel Summers]; Kitty Pryde [Shadowcat]; Nightcrawler |
| Genre | superhero |
| Pencils | Alan Davis |
| Inks | Mark Farmer |
| Letters | Typeset |
| Notes | Statement of Ownership average # of copies in preceding 12 months: 219,988. |
| Characters | FEATURE: Excalibur--Captain Britain; Meggan; Phoenix II [Rachel Summers]; Kitty Pryde [Shadowcat]; Nightcrawler; Kylun; Cerise; GUESTS: Feron (1st); Alistaire Stewart; Widget; Lockheed; VILLAIN: Necrom; CAMEOS: Franklin Richards; Storm; Colossus; Sentinels; Selene; Wolverine |
| Synopsis | Excalibur arrives at an archaeological dig in Ireland at Kitty's request and investigate a box buried deep in the earth with a figure moving around inside; Rachel and Kitty phase into the box and are confronted by the Anti-Phoenix force who uses illusions to try and get Rachel to activate her powers so he can steal them; This fails, but when the rest of the team digs down to the box, the Anti-Phoenix escapes and merges with the evil Necrom; Kylun explains his mutant power; Returning to the lighthouse, the team discovers that Widget has transformed himself with a new body. |
| Genre | superhero |
| Script | Alan Davis |
| Pencils | Alan Davis |
| Inks | Mark Farmer |
| Colors | Glynis Oliver |
| Letters | Michael Heisler |