Synopsis: Twenty years after, Vic Ungasis is now an excellent History professor at Wanbol University and has also successfully ventured in the field of archeology. Natagpuan niya ang Kali of Humabon na siyang nagbukas ng mystery, at hinahanap naman niya ang Kampilan ni Lapu-Lapu at gusto niyang mai-display na magkasama ang dalawang war relics. Ang Kampilan ay nasa pag-aari ni Shimata, a wealthy Japanese national whose main interest is the Peseta, na kasama ng Kampilan. Sinasabing ang Peseta ay isa na lamang sa natitirang 30 pieces of Judas' silver which will give immortality sa sinumang makakakuha nito. Unfortunately, nawawala ang Peseta nang makuha ni Vic ang Kampilan sa kailaliman ng tubig.

May nakasulat sa Kampilan at sa Kali na nagtuturo kung saan matatagpuan ang Peseta. Ninakaw ni Shimata ang Kali, pero hindi naman niya maintindihan kung ano ang nakasulat sa Kali. Nagpunta si Vic for a speaking engagement in Cambodia, madi-discover niya ang sekreto na kakabit ng mystery, nang makilala niya ang uncle and nephew na sina Samnang at Woog na hina-hunting ng mga tauhan ni Shimata. May kinalaman kaya ang paghahanap sa kanila sa Alibata inscription na nasa puwit ni Woog na kapareho ng inscription sa ninakaw na Kali? At bakit nagtatago rin sina Tito at Joey kay Shimata? At paano mai-involved ang buong barkada sa exciting but dangerous search for the all-powerful Peseta?

The title has been changed to "Escalera and Ungasis: 20 Years After," which will chronicle the events that transpired in the two decades since the TV series, when the Escalera brothers and Ungasis graduated from Wanbol University.

Mely Tagasa agreed to reprise her role as Miss Tapia and so did Anthony Roquel as Tonette Macho.

The role of Mang Temy however may be retired as a tribute to cast member Bing Angeles
who passed away in 2001.

The movie's title was changed again to "Iskul Bukol: 20 Years After" in order to gain strong audience recall, owing its large fanbase of people who grew up in the '70s and '80s watching the TV show.

Main Characters:

Tito Escalera (Tito Sotto) - One half of the Escalera brothers, who plots harebrained schemes in every episode.

Joey Escalera (Joey De Leon) - The other Escalera sibling. Miss Tapia has a crush on him.

Vic Ungasis (Vic Sotto) - the good-looking and smart teacher's pet with a chick-magnet personality. The Escaleras often pick on him during class.

Miss Tapia (Mely Tagasa) - Wanbol University's resident professor who often gets on the Escalera brothers' nerves.

Mang Temi (Bing Angeles) - the dark-complexioned operator of the university's cafeteria. His name is a play on the Filipino word "itim" (black or dark), rearranged the 70's Filipino way, "Tim-i" or "Tem-i," in the same manner as words in the vernacular are rearranged. Example: bath = ligo = go-li.

Tonette Macho (Anthony Roquel) - the gay student who plays as bestfriend of the fairest girl in class. He is also the nemesis of the Escalera Brothers.

Inang (Dely Atay-Atayan) - Vic's mother from the town of Tiaong, Quezon. Famous for her term of endearment "Bunsooyy!" whenever addressing Vic. The root word "bunso" is Tagalog for youngest child.

Joey Anson (Joey Albert) - a student whom Vic likes.

Redford White (Redford) - Mang Temi's houseboy

With special guest appearances of Sharon Cuneta,Ryan Agoncillo,Robert Villar,Carlene Aguilar, Francine Prieto, Gian Sotto, Oyo Boy Sotto, Keempee de Leon, Ciara Sotto, EB Babes, Benjie Paras, Jose Manalo, andJacky Woo

Iskul Bukol: 20 Year After is an official entry to the 2008 Metro Manila Film Festival and is showing on December 25, 2008.