This is a reprint of Marvel Team-Up 3 featuring Spidey and the Human Torch taking on Morbius, set to appear in the next two new issues of this title.
Please see the review for the original issue, Marvel Team-Up 3.
Interesting ads include the booklet for Marvel-Con '76, the Art of Neal Adams (who is that little mouse guy separating Captain America and Green Arrow?) and The Battle of the Century, Superman VS. the Amazing Spider-Man (please see the review in the Spider-Man Non-Marvel Crossovers One-Shots section.
Stan Lee talks about his trip to England to rally support for Marvel's new character, Captain Britain.