Island of Blood
Ulthuan, the continent where the Elf race originates from and is populated almost exclusively by High Elves, is actually a giant floating continent on the ocean that is not connected to the sea floor. As a result, Ulthuan is one of the few places in the world safe from Skaven invasion. This doesn't stop particularly driven Skaven however as Skreet Verminkin, a Skaven of unusual size that managed to backstab his way into a Warlord position, decided to invade the impossible in pursuit of a particular Obsidian Amulet called the Phoenix Stone. He has no idea what it does, just that he wants it because it must do something good.
The stone is housed on one of the small islands around Ulthuan that is used as an observation post against invading enemies (AKA Dark Elves. He spent everything he had on a tunnel leading directly from Skavenblight to the island (which, not being a part of Ulthuan itself, is actually a natural landmass) and also managed to buy the favor not only of Clan Skryre but of Clan Moulder as well. He lead his force, as well as his subordinates Ratchitt The Warlock Engineer and Greel The Master Moulder, to pillage.
The High Elves who repelled his forces sent a call to the mainland, which was answered by Althran Stormrider and his gryphon Sharpclaw with the former being among the most prestigious of Elf heroes in the world with a pedigree going back to Aenarion, as well as the young Mage prodigy and Althran's companion Caladris.
Althran and Caladris managed to repel Skreet, Ratchitt, and Greel. The High Elf force was bolstered by a much larger army lead by Tyrion while the Skaven gathered a mob lead by Deathmaster Snikch. How this second battle went is unknown as the lore was only given to sell players on buying bigger armies, but Tyrion and Snikch survived.
The set came with unique sculpts for all miniatures within, and was known for being an amazing value for years (with the usual tabletop starter set tactic of buying a box, selling the faction you don't want and buying a second or third likewise for a full army being in effect). Many of these can still be found on eBay at decent prices (usually the High Elves).
Island Of Blood is technically the last Warhammer Fantasy starter set (unless you count Total War: WARHAMMER), and is the only one to include no scenery or objective pieces (since starter sets started including miniatures at all, the earliest Warhammer starter sets were just books).
Contained within were:
- Prince Althran on Sharpclaw, Prince on Gryphon
- Caladris, High Elf Mage
- 5 Ellyrian Reavers
- 10 Swordmasters Of Hoeth
- 10 Lothern Seaguard
- Skreet Verminkin, Skaven Warlord
- Ratchitt The Warlock Engineer, Warlock Engineer
- Greel The Master Moulder, Packmaster
- 40 Clanrats
- 2 Rat Ogres
- 1 Poisoned Wind Mortar Team
- 1 Warpfire Thrower Mortar Team