At a reunion party at the Beverly Hills Beach Club, Clare is stunned after she learns of Steve's past relationship with Kelly, who learns there's more to the story than she knew. Meanwhile, Kenny puts a social spin on his business with Valerie, who once again throws romantic common sense to the wind. David's new friend, Mark Reese, needles Brandon into joining the college TV station. Donna meets an old high school friend whom she once has a crush on. Also, Steve's annoying stepbrothers, Ryan and Austin, return and learn another hard lesson in finding girls.

Steve's so-called "harmless prank" of streaking with his fraternity pledges for Spirit Week lands Brandon in trouble. He refuses to give a video tape of the event to Chancellor Arnold, knowing it will incriminate Steve, while Tracy decides on a crafty plan to get Brandon off the hook. Meanwhile, Donna becomes chairperson of the rush committee for ALPHA sorority and lobbies to get a female jock, named Dani, accepted. Kelly takes a sickly Jimmy on a religious journey to explore his Jewish roots before he dies. David returns to school at California University, but finds all the classes he wants full, and he even has a run-in with Olympic champion gymnast Kerri Strug. Also, Kenny shows Valerie his new apartment for her to live in, but Valerie becomes angry and upset when he breaks a dinner date with her in order to go out with his wife and young son whom he continues to hide his tryst from them.

David's gets a huge windfall when he inherits $250,000 after his grandfather dies. But it causes a rift with his father Mel over how to use it when David lets the thought of wealth go to his head. Kelly extends an olive branch to Valerie after learning from Steve over her condition, but Valerie must keep the fact that she really isn't pregnant under wraps at any cost. Meanwhile, Steve rashly challenges Dick to a crew race, much to Clare's anger. Tracy makes an overture to Brandon to appear with her on a presidential debate. Also, Cliff takes Donna on a camping trip where he tells her of his future plans, not involving her.