Two master thieves are finally retiring after one last incredibly successful heist. Moving to the Bahamas to reside in their own tropical paradise, the pair's old nemesis, FBI Agent Stan P. Lloyd shows up to make sure they really are retired. Docked in the port is a ocean liner called the "Diamond Cruise" and Stan is convinced that they're not really retired at all, and that this is just the next set up. While Lola is busy settling into their new...

As a young girl, Princess Dala is given the largest diamond in the world by her father. If you stare into it, you can see a 'Pink Panther.' Now she is a young woman. Rebels in her home country have seized power and are demanding the return of the jewel. Dala relaxes at an exclusive skiing resort. Noted British playboy, Sir Charles Lytton is in town. He is secretly 'The Phantom, ' an infamous jewel thief who has eyes on the Pink Panther. Charles's...