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Exhibit 10.1

FIRST AMENDMENT

        FIRST AMENDMENT (this "Amendment"), dated as of June 13, 2003, among
PRIMEDIA INC., a Delaware corporation (the "Borrower"), the lending institutions
listed from time to time party to the Credit Agreement referred to below (each a
"Bank" and, collectively, the "Banks"), BANK OF AMERICA, N.A. as Syndication
Agent (the "Syndication Agent"), THE BANK OF NEW YORK and THE BANK OF NOVA
SCOTIA, as Co-Documentation Agents, (in such capacity, the "Co-Documentation
Agents") and JPMORGAN CHASE BANK (f/k/a The Chase Manhattan Bank), as
Administrative Agent (the "Administrative Agent"). Unless otherwise defined
herein, all capitalized terms used herein and defined in the Credit Agreement
referred to below are used herein as therein defined.

W I T N E S S E T H:

        WHEREAS, the Borrower, the Banks, the Syndication Agent, the
Co-Documentation Agents and the Administrative Agent have entered into a Credit
Agreement, dated as of June 20, 2001 (the "Credit Agreement"); and

        WHEREAS, subject to the terms and conditions set forth below, the
parties hereto wish to amend certain provisions of the Credit Agreement as
provided herein;

        NOW THEREFORE, it is agreed;

        A.    Amendment to the Credit Agreement    

        1.     Section 8.11 of the Credit Agreement is hereby amended by
deleting the table appearing therein in its entirety and inserting the following
new table in lieu thereof:

Period

--------------------------------------------------------------------------------

  Ratio

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Effective Date to and including June 30, 2004   6.00 to 1.00
July 1, 2004 to and including December 31, 2004
 
5.75 to 1.00
January 1, 2005 to and including December 31, 2005
 
5.50 to 1.00
January 1, 2006 to and including December 31, 2006
 
5.00 to 1.00
January 1, 2007 and thereafter
 
4.50 to 1.00

        B.    Miscellaneous Provisions    

        1.     In order to induce the Banks to enter into this Amendment, the
Borrower hereby represents and warrants to each of the Banks that (i) all of the
representations and warranties contained in the Credit Agreement and in the
other Credit Documents are true and correct in all material respects on and as
of the Amendment Effective Date (as defined below), both before and after giving
effect to this Amendment (unless such representations and warranties relate to a
specific earlier date, in which case such representations and warranties shall
be true and correct as of such earlier date), and (ii) there exists no Default
or Event of Default on the Amendment Effective Date, both before and after
giving effect to this Amendment.

        2.     This Amendment is limited as specified and shall not constitute a
modification, acceptance or waiver of any other provision of the Credit
Agreement or any other Credit Document.

        3.     This Amendment may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts executed by all the parties hereto shall be lodged with the
Borrower and the Administrative Agent.

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        4.     THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK.

        5.     This Amendment shall become effective on the date (the "Amendment
Effective Date") (i) when the Borrower and the Required Banks shall have signed
a counterpart hereof (whether the same or different counterparts) and shall have
delivered (including by way of telecopier) the same to the Administrative Agent
at the Notice Office and (ii) when the Borrower has caused proceeds from the
sale of Seventeen (or such other funds as the Borrower may determine to use in
its discretion) in the amount of $26,000,000 to be wired to the Administrative
Agent for application as a voluntary prepayment of the Term Loans A in the
amount of $5,000,000 and a voluntary prepayment of the Term Loans B in the
amount of $21,000,000 and has effected a voluntary permanent reduction of the
Total Unutilized Revolving Loan Commitment in the amount of $24,000,000.

        6.     From and after the Amendment Effective Date, all references in
the Credit Agreement and in the other Credit Documents to the Credit Agreement
shall be deemed to be references to the Credit Agreement as modified hereby.

*    *    *

2

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        IN WITNESS WHEREOF, the undersigned have caused this Amendment to be
duly executed and delivered as of the date first above written.

    PRIMEDIA INC.
 
 
By:
/s/  MATTHEW A. FLYNN      

--------------------------------------------------------------------------------

Title: SVP, Chief Financial Officer & Treasurer

[Signature Page to the Amendment to the Credit Agreement]

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    JPMORGAN CHASE BANK,
Individually and as Administrative Agent
 
 
By:
/s/  JOAN M. FITZGIBBON      

--------------------------------------------------------------------------------

      Title: Joan M. Fitzgibbon
Managing Director

[Signature Page to the Amendment to the Credit Agreement]

    Addison CDO, Limited (#1279)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    AIMCO CDO Series 2000-A
 
 
By:
/s/  JERRY D. ZINKULA      

--------------------------------------------------------------------------------

Title: JERRY D. ZINKULA
 
 
[By:
/s/  DOROTHY E. EVEN      

--------------------------------------------------------------------------------

Title:] DOROTHY E. EVEN

[Signature Page to the Amendment to the Credit Agreement]

    AIMCO CLO Series 2001-A
 
 
By:
/s/  JERRY D. ZINKULA      

--------------------------------------------------------------------------------

Title: JERRY D. ZINKULA
 
 
[By:
/s/  DOROTHY E. EVEN      

--------------------------------------------------------------------------------

Title:] DOROTHY E. EVEN

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ALLSTATE LIFE INSURANCE COMPANY
 
 
By:
/s/  JERRY D. ZINKULA      

--------------------------------------------------------------------------------

Title: JERRY D. ZINKULA
 
 
[By:
/s/  DOROTHY E. EVEN      

--------------------------------------------------------------------------------

Title:] DOROTHY E. EVEN

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    APEX (IDM) CDO I, LTD.     By: David L. Babson & Company Inc. as Collateral
Manager
 
 
By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]
 
 
ELC (CAYMAN) LTD.     By: David L. Babson & Company Inc. as Collateral Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]
 
 
ELC (CAYMAN) LTD. CDO SERIES 1999-I     By: David L. Babson & Company Inc. as
Collateral Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]
 
 
ELC (CAYMAN) LTD. 1999-II     By: David L. Babson & Company Inc. as Collateral
Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]
 
 
ELC (CAYMAN) LTD. 1999-III     By: David L. Babson & Company Inc. as Collateral
Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    APEX (Trimaran) CDO I, LTD.
By Trimaran Advisors, L.L.C.
 
 
By:
/s/  DAVID M. MILLISON      

--------------------------------------------------------------------------------

      Name: David M. Millison       Title: Managing Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ARES III CLO Ltd.
 
 
By:
ARES CLO Management LLC
 
 
By:
/s/  DAVID A. SACHS      

--------------------------------------------------------------------------------

      Name: DAVID A. SACHS       Title: VICE PRESIDENT
 
 
Ares IV CLO Ltd.
 
 
By:
Ares CLO Management IV, L.P.,
Investment Manager
 
 
By:
Ares CLO GP IV, LLC,
Its Managing Member
 
 
By:
/s/  DAVID A. SACHS      

--------------------------------------------------------------------------------

      Name: DAVID A. SACHS       Title: VICE PRESIDENT
 
 
ARES V CLO Ltd.
 
 
By:
ARES CLO Management V, L.P.,
Investment Manager
 
 
By:
ARES CLO GP V, LLC,
Its Managing Member
 
 
By:
/s/  DAVID A. SACHS      

--------------------------------------------------------------------------------

      Name: DAVID A. SACHS       Title: VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Athena CDO, Limited (#1277)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Bank of America N.A.
 
 
By:
/s/  JAMES T. GILLAND      

--------------------------------------------------------------------------------

James T. Gilland
Managing Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    CAPTIVA II FINANCE LTD.
 
 
By:
/s/  PAUL COPE      

--------------------------------------------------------------------------------

Title: Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    CAPTIVA III Finance Ltd. (Acct. 275),
as advised by Pacific Investment Management Company LLC
 
 
By:
/s/  DAVID DYER      

--------------------------------------------------------------------------------

      Name: David Dyer       Title: Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    CAPTIVA IV Finance Ltd. (Acct. 1275),
as advised by Pacific Investment Management Company LLC
 
 
By:
/s/  DAVID DYER      

--------------------------------------------------------------------------------

      Name: David Dyer       Title: Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Catalina CDO Ltd. (#1287)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Citadel Hill 2000 LTD
 
 
By:
/s/  STEPHEN LOCKHART      

--------------------------------------------------------------------------------

      Title: STEPHEN LOCKHART
AUTHORIZED SIGNATORY

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Citibank, N.A.
 
 
By:
/s/  JOHN P. JUDGE      

--------------------------------------------------------------------------------

      Title: VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Clydesdale CLO 2001-1, LTD
NOMURA CORPORATE RESEARCH AND ASSET
MANAGEMENT INC. AS COLLATERAL MANAGER
 
By:
/s/  RICHARD W. STEWART      

--------------------------------------------------------------------------------

      Title: Richard W. Stewart
Managing Director
 
 
[By:

--------------------------------------------------------------------------------

      Title:]

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    CRESCENT/MACH I PARTNERS, L.P.
 
 
By: TCW Asset Management Company
Its Investment Manager
 
 
By:
/s/  MATTHEW A. MILLER      

--------------------------------------------------------------------------------

      Name: MATTHEW A. MILLER       Title: VICE PRESIDENT
 
 
By:
/s/  JONATHAN R. INSULL      

--------------------------------------------------------------------------------

      Name: JONATHAN R. INSULL       Title: MANAGING DIRECTOR

[Signature Page to the First Amendment to the Primedia Inc. Credit Agreement]

--------------------------------------------------------------------------------

    CSAM Funding I
 
 
By:
/s/  ANDREW H. MARSHAK      

--------------------------------------------------------------------------------

      Title: ANDREW H. MARSHAK
AUTHORIZED SIGNATORY
 
 
[By:

--------------------------------------------------------------------------------

      Title:]

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    DELANO Company (#274)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    EASTMAN HILL FUNDING I, LIMITED
 
 
By: TCW Asset Management Company,
as its Collateral Manager
 
 
By:
/s/  MARK L. GOLD      

--------------------------------------------------------------------------------

      Name: MARK L. GOLD       Title: Managing Director

[Signature Page to the First Amendment to the Primedia Inc. Credit Agreement]

--------------------------------------------------------------------------------

    ELC (CAYMAN) LTD. 2000-I     By: David L. Babson & Company Inc. as
Collateral Manager
 
 
By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

      Title:  
 
 
BILL & MELINDA GATES FOUNDATION     By: David L. Babson & Company Inc. as
Investment Adviser
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

      Title:]  
 
 
MAPLEWOOD (CAYMAN) LIMITED     By: David L. Babson & Company Inc. under
delegated authority from Massachusetts Mutual Life Insurance Company as
Investment Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

      Title:]  
 
 
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY     By: David L. Babson & Company
Inc. as Investment Adviser
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ELT LTD.
 
 
By:
/s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
AUTHORIZED AGENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    EXCEL BANK MINNESOTA
 
 
By:
/s/  NATHALIA ARMITAGE      

--------------------------------------------------------------------------------

      Title: Vice President

--------------------------------------------------------------------------------

    First Dominion Funding I
 
 
By:
/s/  ANDREW H. MARSHAK      

--------------------------------------------------------------------------------

      Title: ANDREW H. MARSHAK
AUTHORIZED SIGNATORY
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    First Dominion Funding II
 
 
By:
/s/  ANDREW H. MARSHAK      

--------------------------------------------------------------------------------

      Title: ANDREW H. MARSHAK
AUTHORIZED SIGNATORY
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    First Dominion Funding III
 
 
By:
/s/  ANDREW H. MARSHAK      

--------------------------------------------------------------------------------

      Title: ANDREW H. MARSHAK
AUTHORIZED SIGNATORY
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Flagship CLO 2001—I     by: Flagship Capital Management, Inc.
 
 
By:
/s/  ERIC S. MEYER      

--------------------------------------------------------------------------------

    Name Eric S. Meyer     Title: Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Flagship CLO II     by: Flagship Capital Management, Inc.
 
 
By:
/s/  ERIC S. MEYER      

--------------------------------------------------------------------------------

    Name: Eric S. Meyer     Title: Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    FLEET NATIONAL BANK
 
 
By:
/s/  DENIS D. HAMBOYAN      

--------------------------------------------------------------------------------

Title: Managing Director

--------------------------------------------------------------------------------

    FRANKLIN CLO I LIMITED
 
 
By:
/s/  RICHARD HSU      

--------------------------------------------------------------------------------

      Title: Richard Hsu
Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    FRANKLIN CLO II LIMITED
 
 
By:
/s/  RICHARD HSU      

--------------------------------------------------------------------------------

      Title: Richard Hsu
Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    FRANKLIN FLOATING RATE DAILY ACCESS
 
 
By:
/s/  RICHARD HSU      

--------------------------------------------------------------------------------

      Title: Richard Hsu
Asst. Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    FRANKLIN FLOATING RATE TRUST
 
 
By:
/s/  RICHARD HSU      

--------------------------------------------------------------------------------

      Title: Richard Hsu
Asst. Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Galaxy CLO 1999-1 Ltd.
 
 
By:
/s/  W. JEFFREY BAXTER      

--------------------------------------------------------------------------------

      Title: W. Jeffrey Baxter
Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    GENERAL ELECTRIC CAPITAL CORPORATION
 
 
By:
/s/  ROBERT M. KADLICK      

--------------------------------------------------------------------------------

      Name: Robert M. Kadlick       Title: Duly Authorized Signatory

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    GoldenTree High Yield Opportunities I, LP     By: GoldenTree Asset
Management, LP
 
 
/s/  FREDERICK S. HADDAD      

--------------------------------------------------------------------------------

Frederick S. Haddad

--------------------------------------------------------------------------------

    GoldenTree High Yield Opportunities II, LP     By: GoldenTree Asset
Management, LP
 
 
/s/  FREDERICK S. HADDAD      

--------------------------------------------------------------------------------

Frederick S. Haddad

--------------------------------------------------------------------------------

    GoldenTree Loan Opportunities I, Limited     By: GoldenTree Asset
Management, LP
 
 
/s/  FREDERICK S. HADDAD      

--------------------------------------------------------------------------------

Frederick S. Haddad

--------------------------------------------------------------------------------

    Hamilton CDO, Ltd.     By:   Stanfield Capital Partners LLC
As its Collateral Manager
 
 
By:
 
/s/  CHRISTOPHER A. BONDY      

--------------------------------------------------------------------------------

        Title: Christopher A. Bondy
Partner

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    HarbourView CLO IV, Ltd.
 
 
By:
 
/s/  BILL CAMPBELL      

--------------------------------------------------------------------------------

        Title: Bill Campbell
Manager
 
 
[By:
 
 
         

--------------------------------------------------------------------------------

        Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Highland Legacy Limited     By:   Highland Capital Management, L.P.
As Collateral Manager
 
 
By:
 
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

        Title:  
 
 
[By:
 
Todd Travers
Senior Portfolio Manager
Highland Capital Management, LP.

--------------------------------------------------------------------------------

        Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Highland Loan Funding V Ltd.     By:   Highland Capital Management, L.P.
As Collateral Manager
 
 
By:
 
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

        Title:  
 
 
[By:
 
Todd Travers
Senior Portfolio Manager
Highland Capital Management, LP.

--------------------------------------------------------------------------------

        Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    INDOSUEZ CAPITAL FUNDING IIA, LIMITED
By: Indosuez Capital as Portfolio Advisor
 
 
By:
/s/  CHARLES KOBAYASHI      

--------------------------------------------------------------------------------

    Name: Charles Kobayashi     Title: Principal and Portfolio Manager
 
 
INDOSUEZ CAPITAL FUNDING III, LIMITED
By: Indosuez Capital as Portfolio Advisor
 
 
By:
/s/  CHARLES KOBAYASHI      

--------------------------------------------------------------------------------

    Name: Charles Kobayashi     Title: Principal and Portfolio Manager
 
 
INDOSUEZ CAPITAL FUNDING VI, LIMITED
By: Indosuez Capital as Collateral Manager
 
 
By:
/s/  CHARLES KOBAYASHI      

--------------------------------------------------------------------------------

    Name: Charles Kobayashi     Title: Principal and Portfolio Manager

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ING PRIME RATE TRUST     By: ING Investments, LLC
as its Investment manager
 
 
By:
/s/  JEFFREY A. BAKALAR      

--------------------------------------------------------------------------------

    Name: JEFFREY A. BAKALAR     Title: SENIOR VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Jissekikun Funding, Ltd. (#1288)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    JUPITER FUNDING TRUST
 
 
By:
/s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
AUTHORIZED AGENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    KZH CNC LLC
 
 
By:
/s/  DORIAN HERRERA      

--------------------------------------------------------------------------------

      Title: DORIAN HERRERA
AUTHORIZED AGENT
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    KZH CRESCENT LLC
 
 
By:
/s/  DORIAN HERRERA      

--------------------------------------------------------------------------------

      Title: DORIAN HERRERA
AUTHORIZED AGENT
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    KZH CRESCENT-2 LLC
 
 
By:
/s/  DORIAN HERRERA      

--------------------------------------------------------------------------------

      Title: DORIAN HERRERA
AUTHORIZED AGENT
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    KZH CRESCENT-3 LLC
 
 
By:
/s/  DORIAN HERRERA      

--------------------------------------------------------------------------------

      Title: DORIAN HERRERA
AUTHORIZED AGENT
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Merrill Lynch Capital Corporation
 
 
By:
/s/  CHANTAL D. SIMSON      

--------------------------------------------------------------------------------

      Title: Managing Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

      [OTHER LENDER]
Metropolitan Life Insurance Company
 
 
By:
/s/  JAMES DINGLER      

--------------------------------------------------------------------------------

      Title: Director
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ML CLO XV PILGRIM AMERICA (CAYMAN) LTD,     By: ING Investments, LLC
as its investment manager
 
 
By:
/s/  JEFFREY A. BAKALAR      

--------------------------------------------------------------------------------

    Name: JEFFREY A. BAKALAR     Title: SENIOR VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Morgan Stanley Prime Income Trust
 
 
By:
/s/  SHEILA A. FINNERTY      

--------------------------------------------------------------------------------

      Title: Sheila A. Finnerty
Executive Director

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    MUIRFIELD TRADING LLC     By: /s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
ASST VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    OLYMPIC FUNDING TRUST, SERIES 1999-1
 
 
By:
/s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
AUTHORIZED AGENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Oppenheimer Senior Floating Rate Fund
 
 
By:
/s/  BILL CAMPBELL      

--------------------------------------------------------------------------------

      Title: Bill Campbell
Manager
 
 
[By:

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Pam Capital Funding, Ltd     By: Highland Capital Management, L.P.
As Collateral Manager
 
 
By:
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

      Title:  
 
 
[By:
Todd Travers
Senior Portfolio Manager
Highland Capital Management, L.P.

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Pamco Cayman Ltd     By: Highland Capital Management, L.P.
As Collateral Manager
 
 
By:
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

      Title:  
 
 
[By:
Todd Travers
Senior Portfolio Manager
Highland Capital Management, L.P.

--------------------------------------------------------------------------------

      Title:]  

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    PUTNAM DIVERSIFIED INCOME TRUST
 
 
/s/  BETH MAZOR      

--------------------------------------------------------------------------------

    By: Beth Mazor     Title: Vice President

--------------------------------------------------------------------------------

    PUTNAM MASTER INCOME TRUST
 
 
/s/  BETH MAZOR      

--------------------------------------------------------------------------------

    By: Beth Mazor     Title: V.P.

--------------------------------------------------------------------------------

    PUTNAM MASTER INTERMEDIATE
INCOME TRUST
 
 
/s/  BETH MAZOR      

--------------------------------------------------------------------------------

    By: Beth Mazor     Title: V.P.

--------------------------------------------------------------------------------

    PUTNAM PREMIER INCOME TRUST
 
 
/s/  BETH MAZOR      

--------------------------------------------------------------------------------

    By: Beth Mazor     Title: V.P.

--------------------------------------------------------------------------------

    PUTNAM VARIABLE TRUST—PVT
DIVERSIFIED INCOME FUND
 
 
/s/  BETH MAZOR      

--------------------------------------------------------------------------------

    By: Beth Mazor     Title: V.P.

--------------------------------------------------------------------------------

    Restoration Funding CLO, Ltd
By: Highland Capital Management, L.P.
As Collateral Manager
 
 
By:
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

Title:
 
 
[By:
/s/  TODD TRAVERS      

--------------------------------------------------------------------------------

      Title:] Senior Portfolio Manager
Highland Capital Management, L.P.

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    RIVIERA FUNDING LLC
 
 
By:
/s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
ASST VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ROSEMONT CLO, LTD.
 
 
By:
Deerfield Capital Management LLC
as its Collateral Manager
 
 
 
By:
/s/  MARK E. WITTNEBEL      

--------------------------------------------------------------------------------

Title: Senior Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    ROYALTON COMPANY (#280)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

--------------------------------------------------------------------------------

Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Sankaty Advisors, LLC, as Collateral
Manager for Brant Point II CBO
2000-1 LTD., as Term Lender
 
 
By:
/s/  DIANE J. EXTER      

--------------------------------------------------------------------------------

      Title: DIANE J. EXTER
MANAGING DIRECTOR
PORTFOLIO MANAGER
 
 
[By:

--------------------------------------------------------------------------------

Title:]

[Signature Page to the Amendment to the Credit Agreement]

--------------------------------------------------------------------------------

    Sankaty Advisors, LLC as Collateral
Manager for Great Point CLO 1999-1
LTD., as Term Lender
 
 
By:
/s/  DIANE J. EXTER      

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      Title: DIANE J. EXTER
MANAGING DIRECTOR
PORTFOLIO MANAGER
 
 
[By:

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Title:]

[Signature Page to the Amendment to the Credit Agreement]

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    Sankaty Advisors, LLC as Collateral
Manager for Race Point II CLO,
Limited, as Term Lender
 
 
By:
/s/  DIANE J. EXTER      

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      Title: DIANE J. EXTER
MANAGING DIRECTOR
PORTFOLIO MANAGER
 
 
[By:

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Title:]

[Signature Page to the Amendment to the Credit Agreement]

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    SAWGRASS TRADING LLC
 
 
By:
/s/  ANN E. MORRIS      

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      Title: ANN E. MORRIS
ASST VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

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    SEQUILS I, LTD.
 
 
By:
TCW Advisors, Inc. as its
Collateral Manager
 
 
By:
/s/  MATTHEW A. MILLER      

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Name:
MATTHEW A. MILLER
 
 
Title:
VICE PRESIDENT
 
 
By:
/s/  JONATHAN R. INSULL      

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Name:
JONATHAN R. INSULL
 
 
Title:
MANAGING DIRECTOR

[Signature Page to the First Amendment to the Primedia Inc. Credit Agreement]

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    SEQUILS IV, LTD.
 
 
By:
TCW Advisors, Inc. as its
Collateral Manager
 
 
By:
/s/  MATTHEW A. MILLER      

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Name:
MATTHEW A. MILLER
 
 
Title:
VICE PRESIDENT
 
 
By:
/s/  JONATHAN R. INSULL      

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Name:
JONATHAN R. INSULL
 
 
Title:
MANAGING DIRECTOR

[Signature Page to the First Amendment to the Primedia Inc. Credit Agreement]

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    SEQUILS-Cumberland I, Ltd.     By: Deerfield Capital Management LLC
as its Collateral Manager
 
 
By:
/s/  MARK E. WITTNEBEL      

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      Title: Senior Vice President

[Signature Page to the Amendment to the Credit Agreement]

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    SEQUILS-MAGNUM, LTD. (#1280)     By:   Pacific Investment Management Company
LLC,
as its Investment Advisor
 
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

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Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

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  SEQUILS—PILGRIM I, LTD   By: ING Investments, LLC
as its Investment manager
 
By:
/s/  JEFFREY A. BAKALAR      

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  Name: JEFFREY A. BAKALAR   Title: SENIOR VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

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    SIMSBURY CLO, LIMITED
By: David L. Babson & Company Inc. under
delegated authority from Massachusetts Mutual Life
Insurance Company as Collateral Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

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Title:]
 
 
SUFFIELD CLO, LIMITED
By: David L. Babson & Company Inc. as Collateral
Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

--------------------------------------------------------------------------------

Title:]
 
 
TRYON CLO LTD. 2000-I
By: David L. Babson & Company Inc as Collateral
Manager
 
 
[By:
/s/  ADRIENNE MUSGNUG      

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Title:]

[Signature Page to the Amendment to the Credit Agreement]

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    Smoky River CDO, L.P.,
By RBC Leveraged Capital as Portfolio Advisor
 
 
By:
/s/  MELISSA MARANO      

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    Name: Melissa Marano
Title: Partner

[Signature Page to the Amendment to the Credit Agreement]

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      Stanfield Carrera CLO, Ltd.
By: Stanfield Capital Partners LLC
as its Asset Manager
 
 
By:
/s/  CHRISTOPHER A. BONDY      

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      Title: Christopher A. Bondy
Partner

[Signature Page to the Amendment to the Credit Agreement]

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      Stanfield Quattro CLO, Ltd.
By: Stanfield Capital Partners LLC
As its Collateral Manager
 
 
By:
/s/  CHRISTOPHER A. BONDY      

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      Title: Christopher A. Bondy
Partner

[Signature Page to the Amendment to the Credit Agreement]

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    TCW SELECT LOAN FUND, LIMITED
 
 
By: TCW Advisors, Inc. as its
Collateral Manager
 
 
 
By:
/s/  MATTHEW A. MILLER      

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      Name: MATTHEW A. MILLER       Title: VICE PRESIDENT
 
 
 
By:
/s/  JONATHAN R. INSULL      

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      Name: JONATHAN R. INSULL       Title: MANAGING DIRECTOR

[Signature Page to the Amendment to the Primedia Inc. Credit Agreement]

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  The Bank of New York
 
/s/  ROBERT W. PIERSON    
By: Robert W. Pierson
Title: Vice President

[Signature Page to the Amendment to the Credit Agreement]

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    The Bank of Nova Scotia
 
 
By:
/s/  JOHN W. CAMPBELL      

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Title: Managing Director

[Signature Page to the Amendment to the Credit Agreement]

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  The University of Chicago
By: GoldenTree Asset Management, LP
 
/s/  FREDERICK S. HADDAD      

--------------------------------------------------------------------------------

Frederick S. Haddad

--------------------------------------------------------------------------------

    TORONTO DOMINION (NEW YORK), INC.
 
 
By:
/s/  GWEN ZIRKLE      

--------------------------------------------------------------------------------

      Title: GWEN ZIRKLE
VICE PRESIDENT

[Signature Page to the Amendment to the Credit Agreement]

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    VAN KAMPEN SENIOR FLOATING RATE FUND
By: Van Kampen Investment Advisory Corp.
 
 
By:
/s/  CHRISTINA JAMIESON      

--------------------------------------------------------------------------------

      Title: CHRISTINA JAMIESON
VICE PRESIDENT

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    VAN KAMPEN SENIOR INCOME TRUST
By: Van Kampen Investment Advisory Corp.
 
 
By:
/s/  CHRISTINA JAMIESON      

--------------------------------------------------------------------------------

      Title: CHRISTINA JAMIESON
VICE PRESIDENT

--------------------------------------------------------------------------------

    WINGED FOOT FUNDING TRUST
 
 
By:
/s/  ANN E. MORRIS      

--------------------------------------------------------------------------------

      Title: ANN E. MORRIS
AUTHORIZED AGENT

[Signature Page to the Amendment to the Credit Agreement]

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    WF Foundation
By: Golden Tree Asset Management, LP
 
 
/s/  FREDERICK S. HADDAD      

--------------------------------------------------------------------------------

Frederick S. Haddad

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    Windsor Loan Funding, Limited
By: Stanfield Capital Partners LLC
as its Investment Manager
 
 
By:

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      Title: Christopher A. Bondy
Partner

[Signature Page to the Amendment to the Credit Agreement]

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    Wrigley CDO, Ltd. (#1285)
 
 
By:
Pacific Investment Management Company LLC,
as its Investment Advisor
 
 
 
By:
/s/  MOHAN V. PHANSALKAR      

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Mohan V. Phansalkar
Executive Vice President

[Signature Page to the Amendment to the Credit Agreement]

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QuickLinks

FIRST AMENDMENT