An Imaginary Story featuring Supergirl(woman) gets the cover of Action 332 (Jan. 66), but not the lead story.
Dorfman and Plastino begin a multi-part Superman saga in this issue.
The story opens on Luthor, in exile on an alien prison planet, along with Brainiac, as well as Cosmic King, Lightning Lord and Saturn Queen of the Legion of Super-Villains. They had been sent there a few months earlier, at the end of a battle with Superman in the pages of Superman’s Pal, Jimmy Olsen.
Luthor escapes, and Superman expects that he will head to Lexor. A scientist has devised a teleportation ray, which Superman uses, getting to Lexor ahead of Lex. He is interrupted by Ardora, and barely gets away before she attacks him with deadly flowers. But Superman has opened a secret vault, containing Lex’s tapes. Ardora listens to them, and discovers that her husband really is the criminal Superman made him out to be.
Lex is furious with Superman for damaging his idyllic life on Lexor, and returns to Earth. Perversely, he then rescues Superman a number of times. Superman has no idea why Lex is doing this.
The story continues in the next issue.
Dorfman and Mooney then begin a 2-part Imaginary Story with Supergirl, switching the origins of her and Superman. Zor-El and Alura come to Earth on a rocket with their baby girl, while Jor-El remains on Argo City. Zor-El and Alura lose their powers after exposure to gold kryptonite, but Supergirl is not with them at the time, and so begins her career as a hero.
She winds up with the plain Jane alternate identity, Carole Zorelles, and is the one to discover her younger cousin, as his rocket lands on Earth after the destruction of Argo City.
The story parallels the Supergirl series, down to having Dick Wilson (at the orphanage, before he gets adopted and becomes Dick Malverne) suspicious of young Cal Ellis and trying to prove he is Superboy.
Superboy proves a handful for Superwoman to deal with. He claims to have lost his powers to gold kryptonite at the end of this issue, but the reader is informed that he is lying.
The story concludes in the next issue.