This was the first number of POTH to publish Finlay's own concrete poems - the work is Homage to Malevich - where a text block made up of combinations of the words LACK BLOCK and BLACK create a rectangle which is reflected in a drawing below (by Peter Stitt from Finlay's instructions). This work is published in other books by Finlay including Rapel. A significant section of the pages in this number are dedicated to Russian avant garde writers - mostly translated in part by Edwin Morgan and the number is dedicated to the memory of those writers including Malevich.

Lists the works exhibited by Stitt, one of which was lent by Finlay. Stitt was subsequently featured by Finlay in Poor Old Tired Horse issues #8 and #9, after which he moved to London.

The Finlay poem is one of the very first that can be clearly identified as a concrete poem, it is a typescript where each work or small phrase is linked by lines to create relationships between the words and their positioning on the page and relative to each other.

This is an extremely rare and important publication which has a very similar design style to Fish Sheet One but was never widely distributed because of the falling out between McGuffie, Finlay "and the posh lady who owned the gallery" (from a TLS to be found elsewhere in this collection that was sent along with this catalogue). Folded twice for mailing. VG+.