At the Daily Planet, new editor-in-chief Pauline Kahn meets with Chloe and is less than sympathetic when explaining that she didn't get an internship. Kahn is skeptical of Chloe's qualifications because she had a column and got it because of Lionel's influence. Chloe kicks her on it and Kahn tells her she'll consider it if Chloe brings her a story. Later Chloe narrates the story that she came up with.
At the Tri-Psi Sorority house, a pizza boy delivers pizzas and is greeted by three women in bikinis. They take him to the hot tub out back and are all over him…and then grow fangs and bite him, feeding on his blood.
Clark drops in to visit Lana, who reveals she got in at Metropolis University. However, there aren't any dorm rooms and she decides to try a sorority. Lana arrives at the rush where the president, Buffy, warns them of the life-changing rigors ahead.
Professor Fine is giving a lesson on Rome and how the citizens stood by as an evil emperor destroyed them. Lex stops in and Fine puts Clark on the spot about LuthorCorp and its ownership of Smallville. Clark can't answer and afterward Lex and Fine spar. Fine knows about secret LuthorCorp projects and Lex wonders if Clark is providing him with info. Lex threatens to use his access to cut off Fine before he gets to a second semester.
Lana and three other girls make it to the final initiation but the other three get rejected and Lana is the one to be accepted. Buffy points out there is one final initiation – they turn into vampires and Buffy feeds her some of her blood. When she's done, Lana is now…a vampire!
Professor Fine visits Lex at the manor and wants to know why Lex has been looking into his past. Fine gives Lex his complete record and reveals he has a record of Lex using his funds to finance experiments on the campus. After Fine leaves, Lex has one of his henchmen follow him.
At her dorm room, Chloe has to deal with her roommate griping about her posting of articles on their wall, and how her friend is sleeping in there. Lana is lethargic and Chloe thinks she has a hangover. Clark arrives and she starts nuzzling his neck and starts acting a lot different. When he doesn't respond, she dons a pair of sunglasses and heads out.
Professor Fine breaks in at the spaceship where Lex's man draws a gun on him. Fine extends a bit of his apparently metallic body, killing the guard, and approaches the ship.
Lana is at the sorority drinking with the others when they knock her down a flight of stairs. Lana lands at the bottom, her neck broken and her body shattered, but she revives a minute later, snapping her bones back into place.
The next day Clark and Chloe compare notes and Chloe determines that six years ago Buffy took over and become wildly successful, but only choose one new girl a year. Since Buffy took over, no one has left the sorority. She figures they can sneak in during their Halloween party and snoop around. They manage to get in without invitations and Clark goes to check out the rooms while Chloe spots Lana hitting on a guy and drags her off. Clark finds an article about Buffy surviving a vampire attack in a Smallville cave and Buffy confronts him, but he super speeds out during a momentary distraction. Lana regrets that Chloe came and then attacks her – Clark hears them and breaks them up, then flees into the night, leaving an injured Chloe.
Clark takes Chloe to the hospital where they figure she has some kind of rabies-like disease that is keeping her blood cells from regenerating, and there's nothing they can do. Professor Fine drops in and is skeptical, and after checking the records suggest Clark ask Lex about Project 1138. Buffy and the others aren't happy that Lana messed things up and tell her to fix it.
At the manor, Clark confronts Lex about 1138 and he denies knowing anything. When Clark lays it out Lex tells him that six years ago Buffy was trapped in a cage for several days until LuthorCorp rescued her. There were meteor rocks in the cave that affected the bats. One LuthorCorp technician was infected but they came up with an injectable cure, a cure based on green kryptonite. Clark is weakened and Lana busts in, knocking out Lex and biting Clark. She reacts briefly to the blood and then realizes she has heat vision. Clark manages to grab the syringe but passes out.
Lana brings Clark back to the sorority house and suggests they convert him into a vampire, but Buffy and the others refuse. They fight and Lana vaporized Buffy with her borrowed heat vision. The other girls back down and run out at Lana's command, and she goes to prepare to convert Clark into a vampire, saying they can be together. He manages to inject the cure.
Chloe reveals that the other girls were cured, the sorority house was closed down, and Chloe's roommate moved out and Lana has moved in. Lana doesn't remember much except the overwhelming feeling of strength that she feels was what was in Clark's heart. Clark thanks Lex, who confronts him about Fine and reveals Fine has been stealing secret documents. He warns Clark that Fine isn't the friend he thinks he is. Chloe turns her story over to Kahn who decides to take her on at the Planet.