EXHIBIT 10.1 (g)

SEVENTH AMENDMENT

SEVENTH AMENDMENT (this "Amendment"), dated as of February 7, 2003, among ACG HOLDINGS, INC., a
Delaware corporation ("Holdings"), AMERICAN COLOR GRAPHICS, INC., a New York corporation (the
"Borrower"), the lenders party to the Credit Agreement referred to below (the "Lenders") and DEUTSCHE
BANK TRUST COMPANY AMERICAS (f/k/a Bankers Trust Company), as Administrative Agent (in such capacity, the "Administrative Agent"). All capitalized terms
used herein and not otherwise defined herein shall have the respective meanings provided such terms in the Credit Agreement referred to below.

W I T N E S S E T H:

WHEREAS,
Holdings, the Borrower, the Lenders, General Electric Capital Corporation, as Documentation Agent, Morgan Stanley Senior Funding, Inc., as Syndication Agent, and the
Administrative Agent are parties to a Credit Agreement, dated as of August 15, 1995 and amended and restated as of May 8, 1998 (as so amended and restated and as the same has been
further amended, modified and/or supplemented to, but not including, the date hereof, the "Credit Agreement"); and

WHEREAS,
the parties hereto wish to amend the Credit Agreement as herein provided;

NOW,
THEREFORE, it is agreed:

1.    Section 1.1
of the Credit Agreement is hereby amended by (i) deleting the definitions of "Applicable Margin" and "Specified Financial Covenants Compliance
Date" appearing in said Section and (ii) inserting the following new definitions in appropriate alphabetical order:

"Applicable
Margin" shall mean a percentage equal to (i) in the case of Loans maintained as (x) Base Rate Loans, 2.00% and (y) Eurodollar Rate Loans, 3.25%,
(ii) in the case of the Unused Line Fee, 0.50% and (iii) in the case of Letter of Credit Fees, 3.00%. It is understood and agreed that (x) the increased "Applicable Margins"
applicable as a result of the modification of this definition pursuant to the Seventh Amendment shall be effective for all purposes of this Agreement on and after the Seventh Amendment Effective Date
and shall not be effective for periods prior to the Seventh Amendment Effective Date and (y) the "Applicable Margins" (as determined pursuant to the Credit Agreement as in effect immediately
prior to the Seventh Amendment Effective Date) shall apply for periods prior to the Seventh Amendment Effective Date".

"Seventh
Amendment" shall mean the Seventh Amendment to this Agreement, dated as of February 7, 2003.

"Seventh
Amendment Effective Date" shall have the meaning specified in the Seventh Amendment.

2.    Section 2.6(i) of
the Credit Agreement is hereby amended by deleting the text "Sections 8.1(e), (f) and (k)" appearing in said Section and inserting
the text "Sections 8.1(e), (f) and (j)" in lieu thereof.

3.    Section 5
of the Credit Agreement is hereby amended by inserting the following new Section 5.3 immediately after Section 5.2 appearing in said
Section:



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4.    Section 8.1
of the Credit Agreement is hereby amended by (i) inserting the text "and" at the end of clause (i) of said Section, (ii) deleting
clause (j) of said Section in its entirety, (iii) redesignating clause (k) of said Section as clause (j) and (iv) deleting the text "this clause (k)"
appearing in clause (j) of said Section (as redesignated pursuant to preceding clause (iii)) and inserting the text "this clause (j)" in lieu thereof.

5.    Section 8.9
of the Credit Agreement is hereby amended by deleting the table appearing in said Section in its entirety and inserting the following new table in lieu
thereof:

"Test Period Ended

Minimum
EBITDAMarch 31, 2003

$
51,000,000June 30, 2003

$
51,000,000September 30, 2003

$
51,000,000December 31, 2003

$
51,000,000March 31, 2004

$
56,000,000June 30, 2004

$
57,000,000September 30, 2004

$
59,000,000December 31, 2004

$
61,000,000March 31, 2005

$
62,000,000
".


6.    Section 8.10
of the Credit Agreement is hereby amended by deleting the table appearing in said Section in its entirety and inserting the following new table in
lieu thereof:

"Test Period Ended

RatioMarch 31, 2003

1.85:1.0June 30, 2003

1.85:1.0September 30, 2003

1.85:1.0December 31, 2003

1.85:1.0March 31, 2004

2.0:1.0June 30, 2004

2.0:1.0September 30, 2004

2.0:1.0December 31, 2004

2.0:1.0March 31, 2005

2.0:1.0
".


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7.    Section 8.12
of the Credit Agreement is hereby amended by (i) deleting the text "(x)" immediately following the text "except that, so long as no Default or
Event of Default then exists or would exist after giving effect thereto," appearing in clause (i) of said Section, (ii) deleting the text "this subclause (x) of" appearing in the
first proviso appearing in clause (i) of said Section and (iii) deleting subclause (y) of clause (i) of said Section and the proviso immediately following said subclause
(y) in their entirety.

8.    In
order to induce the Lenders to enter into this Amendment, each of Holdings and the Borrower hereby represents and warrants that:



9.    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.

10.  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 shall be lodged with the Borrower and the Administrative Agent.

11.  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.

12.  This
Amendment shall become effective on the date (the "Seventh Amendment Effective Date") when each of Holdings, the
Borrower, the Administrative Agent and the Lenders constituting the Required Lenders shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered
(including by way of facsimile transmission) the same to the Administrative Agent at its Notice Office.

13.  The
Borrower hereby covenants and agrees, so long as the Seventh Amendment Effective Date occurs, to pay to each Lender which has executed and delivered to the
Administrative Agent (or its designee) a counterpart hereof by the later to occur of (x) 5:00 P.M. (New York time) on February 7, 2003 or (y) the close of business on the
Seventh Amendment Effective Date (such later date, the "Outside Date"), a non-refundable cash amendment fee equal to 1/4 of
1% of the sum of (x) its Revolving Loan Commitment as in effect on the Seventh Amendment Effective Date and (y) the aggregate principal amount of its A Term Loans and B Term Loans
outstanding on the Seventh Amendment Effective Date, which fee shall not be subject to counterclaim or set-off, or be otherwise affected by, any claim or dispute relating to any other
matter and shall be paid by the Borrower to the Administrative Agent for distribution to the Lenders on the second Business Day following the Outside Date.

14.  From
and after the Seventh Amendment Effective Date, all references in the Credit Agreement and each of the Credit Documents to the Credit Agreement shall be deemed to
be references to the Credit Agreement as amended hereby.

*  *  *

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IN
WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written.

| |  | ACG HOLDINGS, INC.                                                                                                     
| |  | -----------------------------------------------------------------------------------------------------------------------
| |  | By:                                                                                                                    
| |  | AMERICAN COLOR GRAPHICS, INC.                                                                                          
| |  | By:                                                                                                                    
| |  | DEUTSCHE BANK TRUST COMPANY
    AMERICAS(f/k/a Bankers Trust
    Company), Individually and as
    Administrative Agent
| |  | By:                                                                                                                    
| |  | GENERAL ELECTRIC CAPITAL
    CORPORATION,Individually and as Documentation Agent                                       
| |  | By:                                                                                                                    
| |  | MORGAN STANLEY SENIOR FUNDING, INC.,Individually and as Syndication Agent                                              
| |  | By:                                                                                                                    
| |  | DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH                                                                                
| |  | By:                                                                                                                    

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| |  | By:                                                                                                        | /s/SCOTTYE LINDSEYTitle: Vice President             
| |  | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------
| |  | TRANSAMERICA BUSINESS CAPITAL
    CORPORATION,as successor to
    Transamerica Business Credit Corporation
| |  | By:                                                                                                        | /s/STEPHEN K. GOETSCHIUSTitle: Senior Vice President
| |  | UPS CAPITAL CORPORATION                                                                                   
| |  | By:                                                                                                        | /s/CHARLES JOHNSONTitle: Senior Vice President      
| |  | KZH CYPRESSTREE-1 LLC                                                                                     
| |  | By:                                                                                                        | /s/ANTHONY IARROBINOTitle: Authorized Agent         
| |  | ORIX FINANCIAL SERVICES, INC.                                                                             
| |  | By:                                                                                                        | /s/ANDREW KOSOWSKYTitle: Vice President             
| |  | SUNAMERICA SENIOR FLOATING RATE
    FUND INC.                                                             
| |  | By:                                                                                                        | STANFIELD CAPITAL PARTNERS LLCAs its subadvisor     
| |  | By:                                                                                                        | /s/CHRISTOPHER A. BONDYTitle: Partner               

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