The plot has Dreyfus kidnapping a brilliant scientist, Dr. Fassbender (Richard Vernon), whom he forces to build a laser beam that can make whole buildings disappear (once its built, they do a successful test run on the U.N.). Clouseau, now the highly regarded Chief Inspector, is charged with finding the missing professor and stopping Dreyfus, thus playing into his former superior's hands, since the loon has hired a number of the world's greatest assassins to knock off his hopelessly dim nemesis. Of course, these killers don't stand a chance, and, indeed, they're the ones who wind up getting snuffed out due to Clouseau's cosmic good fortune.
Because the film manages enough laughs, one doesn't mind the thorough ineptitude of the plotting (it's all as meaningless as any of the Austin Powers movies). The best bits find Clouseau laying waste to a living room while questioning the professor's help, as well as the obligatory Cato brawl, which is bizarrely punctuated by a left-field Hunchback of Notre Dame gag. This entry also features the best animated opening credit sequence, in which the Pink Panther pops up in a variety of classic film moments. They should've stopped with this one, but it was the most successful installment yet.