杀手匿名会——定期举行的杀手匿名互助小组，参与者坐成一圈，凭着对彼此的信任相互分享各自过犯。这些陷入挣扎的匿名杀手，有的深爱杀戮，有的不想继续，无论如何，他们都需要倾诉与聆听。

此片拍於八十年代，由剛讀完訓練班的劉德華、嚴秋華分飾兩兄弟，而年方十六歲的劉美君，則扮演由越南偷渡來港的少女，且有大膽暴露演出。故事圍繞兩兄弟和一個難民營內的越南少女的反叛愛情關係，題材敏惑，充滿戾氣。岳華飾劉、嚴父親，任職監獄署，與妻離婚後打算再娶女友錢慧儀，令原巳反叛的兒子更反叛，以致兩個兒子走向毀滅之路……

見事決勝に進出したのは、からし蓮根、ミルクボーイ、ぺこぱ、オズワルド、すゑひろがりず、ニューヨーク、インディアンス、見取り図、かまいたちの9組。この9組に加え、決勝前に東京・六本木ヒルズアリーナにて行われる敗者復活戦にて最多の票を集めた1組も参戦し、計10組で優勝賞金1000万円と漫才師No.1の称号を競う。本番のネタ順は「笑神籤（えみくじ）」方式を今年も採用。毎回クジを引き、呼ばれたコンビがそのままネタを披露。１組ずつネタ順が決定していくことになる。今年新たに「Ｍ-1グランプリ」チャンピオンとして名を残すのはどのコンビなのか!?ぜひお見逃しなく。

Eun-gi's eventful life in a boarding house has begun with the three ladies: a sexy owner of a boarding house, her daughter who is even sexier, and his innocent first love. Eun-gi, a freshman, has found his new place in a boarding house operated by mother and daughter when he came to Seoul to study. His only pleasure is to play along in the unspoken push-and-pull relationship with the mother or the daughter. One day, his first love, Soon-yi, who is innocent and docile, suddenly comes to visit him at the boarding house. With the sexy daughter of the boarding house behind the door, and the curvaceous lady owner of the boarding house in the bathroom next to his room, the 20-year-old virgin Eun-gi's sleepless night begins.