好友如海（刘青云 饰）、阿九（葛民辉 饰）和花仔（黄子华 饰）三人都是同性恋。如海在广告公司上班，而阿九和花仔则一直没有找到合适的工作。如海和新来的女同事媚（吴倩莲 饰）暗生情愫，媚在得知如海是同性恋的时候，并没有歧视他，而是决心帮他回复正常。此时，阿九染上了艾滋病，在接受电视台采访时突然倒地不醒。如海和花仔为了让阿九快快乐乐走完人生最后一段路，为他举办了一个化妆舞会。舞会过后，阿九自杀，而如海因同性恋身份曝光亦辞去了工作……

Young gay men in Hong Kong. Hoi, Fa, and Kau have been friends since Third Form. They're now young gay adults sharing an apartment. Fa, who writes film scripts, has recently been jilted and is heart-broken. Hoi, who works at an ad agency where he's in the closet, is pursued by Fok May, a female colleague. Kau, effeminate and outgoing, is humiliated in public by his father in front of his brother and sister. He goes on TV to make a plea for acceptance. Under the shadow of AIDS and of prejudice, May and the three guys live out their friendships.