We report the recovery of a spectroscopic event in eta Carinae in 1997/1998
after a prediction by Damineli in 1996. A true periodicity with P = 2020 /- 5 days (0.2% uncertainty) is obtained. The line intensities and the radi
al velocity curve display a phase-locked behavior, implying that the energy
and dynamics of the event repeat from cycle to cycle. This rules out S Dor
adus oscillation or multiple shell ejection by an unstable star as the expl
anation of the spectroscopic events. A colliding-wind binary scenario is su
pported by our spectroscopic data and by X-ray observations. Although devia
tions from a simple case exist around periastron, intensive monitoring duri
ng the next event (mid-2003) will be crucial to our understanding of the sy
stem.