<PAGE>   1
                                                                  Exhibit 10.L-2
                                                                  --------------



                               COURIER CORPORATION
                             COURIER-CITIZEN COMPANY
                             COURIER COMPANIES, INC.
                      COURIER DELAWARE HOLDING CORPORATION
                     COURIER FOREIGN SALES CORPORATION LIMITED
                         COURIER INVESTMENT CORPORATION
                           COURIER KENDALLVILLE, INC.
                            COURIER PROPERTIES, INC.
                             COURIER STOUGHTON, INC.
                             COURIER WESTFORD, INC.
                           NATIONAL PUBLISHING COMPANY
                             COURIER NEW MEDIA, INC.



                                   Dated as of:  July 22, 1997


State Street Bank and Trust Company,
  Individually and as Agent
225 Franklin Street
Boston, Massachusetts 02110

BankBoston, N.A.
100 Federal Street
Boston, Massachusetts  02110

      Re:   Amendment No. 1 to Revolving Credit Agreement
            ---------------------------------------------

Gentlemen:

      We refer to the Revolving Credit Agreement, dated as of March 18, 1997
(the "Agreement"), among COURIER CORPORATION, COURIER-CITIZEN COMPANY, COURIER
COMPANIES, INC., COURIER DELAWARE HOLDING CORPORATION, COURIER FOREIGN SALES
CORPORATION LIMITED, COURIER INVESTMENT CORPORATION, COURIER KENDALLVILLE, INC.,
COURIER PROPERTIES, INC., COURIER STOUGHTON, INC., COURIER WESTFORD, INC.,
NATIONAL PUBLISHING COMPANY, and COURIER NEW MEDIA, INC. (each a "Borrower" and
collectively the "Borrowers"), STATE STREET BANK AND TRUST COMPANY, in its
capacity as a Bank ("SSB"), BANKBOSTON, N.A. (f/k/a The First National Bank of
Boston), in its capacity as a Bank ("BKB"; and together with SSB, the "Banks"),
and STATE STREET BANK AND TRUST COMPANY, in its capacity as agent for the Banks
(the "Agent").


<PAGE>   2

      Terms used in this letter of agreement (this "Amendment") which are not
defined herein, but which are defined in the Agreement, shall have the same
respective meanings herein as therein.

      We have requested you to make certain amendments to the Agreement. You
have advised us that you are prepared and would be pleased to make the
amendments so requested by us on the condition that we join with you in this
Amendment.

      Accordingly, in consideration of these premises, the promises, mutual
covenants and agreements contained in this Amendment, and fully intending to be
legally bound by this Amendment, we hereby agree with you as follows:

                                    ARTICLE I

                             AMENDMENTS TO AGREEMENT

      Effective July 22, 1997, the Agreement is amended as follows:

      (a)   The term "Borrowers" shall, wherever used in the Agreement or any of
the other Loan Documents, be deemed to also mean and include Book-mart Press,
Inc., a Delaware corporation ("Bookmart"). It is the express understanding and
intention of the parties hereto that Bookmart shall hereafter be entitled to
make borrowings in accordance with the terms and conditions of the Agreement,
and shall hereafter be bound, on a joint and several basis, by all of the terms
and conditions of the Agreement, and all of the Obligations of the Borrowers
under (and as defined in) the Agreement, as if it was an original signatory
thereto, including, without limitation, the representations, warranties and
covenants contained therein and the obligation to repay all amounts owing under
the Agreement and the Notes in accordance with the respective terms thereof.

      (b)   Section 1.1.57 of the Agreement is amended to read in its entirety 
as follows:

            "1.1.57  "Revolving Loan Maximum Amount" means $30,000,000."

      (c)   The term "Loan Documents" shall, wherever used in the Agreement or
any of the other Loan Documents, be deemed to also mean and include Amendment
No. 1 to Revolving Credit Agreement, dated as of July 22, 1997, among the
Borrowers, the Banks, and the Agent.

      (d)   Section 2.5.1 of the Agreement is amended by adding the following
new sentence at the end thereof:

            "Notwithstanding the foregoing, if at any time the Leverage Ratio
            (as defined in Section 5.24 hereof) exceeds 2.0 to 1, as tested
            quarterly based 


                                      -2-


<PAGE>   3

            upon the quarterly financial information required to be delivered
            pursuant to Sections 5.1(i) and 5.1(ii), then the Applicable Prime
            Rate Margin and the Applicable Euroloan Margin in effect at such
            time shall be increased by one-quarter of one percent (0.25%) and
            such increase shall remain in effect until the Leverage Ratio is
            less than or equal to 2.0 to 1 (and in any event, at least until the
            next quarterly test). For purposes of determining the interest rate
            for any Rate Period hereunder, any interest rate change shall be
            effective five (5) days after the date on which the financial
            statements required to be delivered pursuant to Sections 5.1(i) and
            5.1(ii) are delivered to the Agent and the Banks, together with a
            notice to the Agent (which shall be verified by the Agent)
            specifying any change in the Applicable Prime Rate Margin and the
            Applicable Euroloan Margin, and if the Borrowers have failed to
            deliver the financial statements required to be delivered by them
            pursuant to Sections 5.1(i) and 5.1(ii), the Applicable Prime Rate
            Margin and the Applicable Euroloan Margin shall automatically be
            increased to 0.75% and 1.50%, respectively, until such financial
            statements are delivered.

                  It is further understood and agreed that if the Leverage Ratio
            is greater than 2.50 to 1 at any time, such occurrence shall
            constitute an Event of Default."

      (e)   Section 5.24 of the Agreement is amended to read in its entirety as
follows:

            "5.24 DEBT TO WORTH RATIO. The Borrowers shall not cause or permit
            the ratio of (i) total Consolidated Indebtedness to (ii) Tangible 
            Net Worth (the "Leverage Ratio") at the end of any fiscal quarter 
            of the Borrowers to be greater than 2.5 to 1."

      (f)   EXHIBIT A to the Agreement is amended: (i) by deleting each 
reference to "$10,000,000" or "Ten Million Dollars ($10,000,000)"; and (ii) by
inserting in place thereof the following: "$15,000,000" or "Fifteen Million
Dollars ($15,000,000)," as the case may be.

                                   ARTICLE II

                       AMENDMENT TO REVOLVING CREDIT NOTES

      Effective July 22, 1997, the Revolving Credit Notes are amended as set
forth in the Allonges attached hereto as ANNEX 1 and ANNEX 2.




                                      -3-

<PAGE>   4

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

      The Borrowers jointly and severally represent and warrant to you as
follows:

      (a) REPRESENTATIONS IN AGREEMENT. Each of the representations and
warranties made by the Borrowers to you in the Agreement was true, correct and
complete when made and is true, correct and complete on and as of the date
hereof with the same full force and effect as if each of such representations
and warranties had been made by the Borrowers on the date hereof and in this
Amendment (except to the extent that such representations and warranties relate
expressly to an earlier date).

      (b) NO DEFAULTS OR EVENTS OF DEFAULT. No Event of Default, or any event
which, with the giving of notice or the passage of time, or both, would
constitute an Event of Default, exists on the date of this Amendment (after
giving effect to all of the arrangements and transactions contemplated by this
Amendment).

      (c) BINDING EFFECT OF DOCUMENTS. This Amendment has been duly executed and
delivered to you by the Borrowers and is in full force and effect as of the date
hereof, and the agreements and obligations of the Borrowers contained herein
constitute the joint and several, and legal, valid and binding obligations of
the Borrowers enforceable against the Borrowers in accordance with their
respective terms.


                                   ARTICLE IV

                                  MISCELLANEOUS

      This Amendment may be executed in any number of counterparts, each of
which when executed and delivered shall be deemed an original, but all of which
together shall constitute one instrument. In making proof of this Amendment, it
shall not be necessary to produce or account for more than one counterpart
thereof signed by each of the parties hereto. Except to the extent specifically
amended and supplemented hereby, all of the terms, conditions and the provisions
of the Agreement, the Notes and each of the Loan Documents shall remain
unmodified, and the Agreement, the Notes and each of the Loan Documents, as
amended and supplemented by this Amendment, are confirmed as being in full force
and effect.

      If you are in agreement with the foregoing, please sign the form of
acceptance on the enclosed counterpart of this Amendment and return such
counterpart to the undersigned, together with the signed Allonges in the form of
ANNEX 1 and ANNEX 2, duly




                                      -4-
<PAGE>   5


executed and certified authorizing resolutions, an officer's certificate to
which are attached the charter documents, bylaws and good standing certificate
of Book-mart Press, Inc., and a favorable legal opinion from your counsel,
whereupon this Amendment, as so accepted by you, shall become a binding
agreement among you and the undersigned.

                                 Very truly yours,

                                 THE BORROWERS:


                                 COURIER CORPORATION


                                 By: /s/ R. P. Story, Jr. 
                                     -------------------------------------------
                                     Title: SR. V.P. and C.F.O.


                                 COURIER CITIZEN COMPANY


                                 By: /s/ R. P. Story, Jr.
                                     -------------------------------------------
                                     Title: SR. V.P. and C.F.O.


                                 COURIER COMPANIES, INC.


                                 By: /s/ R. P. Story, Jr.
                                     -------------------------------------------
                                     Title: TREASURER

                                   COURIER DELAWARE HOLDING CORPORATION


                                 By: /s/ George Q. Nichols
                                     -------------------------------------------
                                     Title: PRESIDENT

                            (Signatures on next page)
<PAGE>   6

                                   COURIER FOREIGN SALES CORPORATION LIMITED


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: PRESIDENT

                                   COURIER INVESTMENT CORPORATION


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER


                                   COURIER KENDALLVILLE, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER


                                   COURIER PROPERTIES, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER


                                   COURIER STOUGHTON, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER


                                   COURIER WESTFORD, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER

                            (Signatures on next page)


<PAGE>   7

                                   NATIONAL PUBLISHING COMPANY


                                   By: /s/ George Q. Nichols
                                       -----------------------------------------
                                       Title: PRESIDENT

                                   COURIER NEW MEDIA, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER

                                   BOOK-MART PRESS, INC.


                                   By: /s/ R. P. Story, Jr.
                                       -----------------------------------------
                                       Title: TREASURER

      The foregoing Amendment is hereby accepted by the undersigned as of 
July 22, 1997.

                                   THE BANKS:

                                   STATE STREET BANK AND TRUST COMPANY


                                   By: /s/ F. Andrew Beise
                                       -----------------------------------------
                                       Title: V.P.


                                   BANKBOSTON, N.A. (f/k/a The First National 
                                   Bank of Boston)

                                   By: /s/ Virginia Bennett
                                       -----------------------------------------
                                       Title: V.P.

<PAGE>   8

                                   THE AGENT:

                                   STATE STREET BANK AND TRUST COMPANY


                                   By: /s/ F. Andrew Beise
                                       -----------------------------------------
                                       Title: V.P.


<PAGE>   9




                        ALLONGE TO REVOLVING CREDIT NOTE


$15,000,000.00                                      Dated as of:  July 22, 1997

      This Allonge is made by COURIER CORPORATION, COURIER-CITIZEN COMPANY,
COURIER COMPANIES, INC., COURIER DELAWARE HOLDING CORPORATION, COURIER FOREIGN
SALES CORPORATION LIMITED, COURIER INVESTMENT CORPORATION, COURIER KENDALLVILLE,
INC., COURIER PROPERTIES, INC., COURIER STOUGHTON, INC., COURIER WESTFORD, INC.,
NATIONAL PUBLISHING COMPANY, and COURIER NEW MEDIA, INC., and BOOK-MART PRESS,
INC. (collectively, the "Borrowers"), to that certain Revolving Credit Note
dated March 18, 1997, in the face amount of $10,000,000 (as amended, the
"Note"), executed and delivered by the Borrowers to BankBoston, N.A., f/k/a The
First National Bank of Boston, (the "Bank") pursuant to the terms of a Revolving
Credit Agreement, dated as of March 18, 1997, among the Borrowers, the Bank, and
State Street Bank and Trust Company, Individually and as Agent (the "Loan
Agreement").

      Effective on the day and year first above written, each reference in the
Note to "$10,000,000" or to "TEN MILLION DOLLARS ($10,000,000)" shall be deemed
to be a reference to "$15,000,000" or "FIFTEEN MILLION DOLLARS ($15,000,000),"
as the case may be.

      The Borrowers hereby confirm their joint and several promise to pay as set
forth in the Note, and all other terms and conditions of the Note, as modified
by this Allonge.

      All capitalized terms used herein but not defined herein shall have the
same meaning as set forth in the Note.

      This Allonge shall become part of the Note, and although it is the intent
of the parties that this Allonge be affixed to the Note, this Allonge shall
continue in full force and effect even if it has not been so affixed.

                            (Signatures on next page)



<PAGE>   10



      Executed as a sealed instrument as of the date first above written.

                                 THE BORROWERS:

WITNESS:                        COURIER CORPORATION


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: TREASURER                    Title: SR. V.P. and C.F.O

WITNESS:                        COURIER CITIZEN COMPANY


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: SR. V.P. and C.F.O

WITNESS:                        COURIER COMPANIES, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER DELAWARE HOLDING CORPORATION


/s/ Lee E. Cochrane             By: /s/ George Q. Nichols
----------------------------        ----------------------------
Title:                              Title: PRESIDENT

WITNESS:                        COURIER FOREIGN SALES CORPORATION LIMITED


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: TREASURER                    Title: PRESIDENT

WITNESS:                        COURIER INVESTMENT CORPORATION


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

                            (Signatures on next page)
<PAGE>   11

WITNESS:                        COURIER KENDALLVILLE, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER PROPERTIES, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER STOUGHTON, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER WESTFORD, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        NATIONAL PUBLISHING COMPANY


/s/ Lee E. Cochrane             By: /s/ George Q. Nichols
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: PRESIDENT

WITNESS:                        COURIER NEW MEDIA, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        BOOK-MART PRESS, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER





<PAGE>   12


                        ALLONGE TO REVOLVING CREDIT NOTE


$15,000,000.00                                      Dated as of:  July 22, 1997

      This Allonge is made by COURIER CORPORATION, COURIER-CITIZEN COMPANY,
COURIER COMPANIES, INC., COURIER DELAWARE HOLDING CORPORATION, COURIER FOREIGN
SALES CORPORATION LIMITED, COURIER INVESTMENT CORPORATION, COURIER KENDALLVILLE,
INC., COURIER PROPERTIES, INC., COURIER STOUGHTON, INC., COURIER WESTFORD, INC.,
NATIONAL PUBLISHING COMPANY, and COURIER NEW MEDIA, INC., and BOOK-MART PRESS,
INC. (collectively, the "Borrowers"), to that certain Revolving Credit Note
dated March 18, 1997, in the face amount of $10,000,000 (as amended, the
"Note"), executed and delivered by the Borrowers to State Street Bank and Trust
Company (the "Bank"), pursuant to the terms of a Revolving Credit Agreement,
dated as of March 18, 1997, among the Borrowers, BankBoston, N.A., f/k/a The
First National Bank of Boston, and State Street Bank and Trust Company,
Individually and as Agent (the "Loan Agreement").

      Effective on the day and year first above written, each reference in the
Note to "$10,000,000" or to "TEN MILLION DOLLARS ($10,000,000)" shall be deemed
to be a reference to "$15,000,000" or "FIFTEEN MILLION DOLLARS ($15,000,000),"
as the case may be.

      The Borrowers hereby confirm their joint and several promise to pay as set
forth in the Note, and all other terms and conditions of the Note, as modified
by this Allonge.

      All capitalized terms used herein but not defined herein shall have the
same meaning as set forth in the Note.

      This Allonge shall become part of the Note, and although it is the intent
of the parties that this Allonge be affixed to the Note, this Allonge shall
continue in full force and effect even if it has not been so affixed.

                            (Signatures on next page)



<PAGE>   13

      Executed as a sealed instrument as of the date first above written.

                                 THE BORROWERS:

WITNESS:                        COURIER CORPORATION


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: TREASURER                    Title: SR. V.P. and C.F.O

WITNESS:                        COURIER CITIZEN COMPANY

/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: TREASURER                    Title: SR. V.P. and C.F.O

WITNESS:                        COURIER COMPANIES, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER DELAWARE HOLDING CORPORATION

/s/ Lee E. Cochrane             By: /s/ George Q. Nichols
----------------------------        ----------------------------
Title:                              Title: PRESIDENT

WITNESS:                        COURIER FOREIGN SALES CORPORATION LIMITED

/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: TREASURER                    Title: PRESIDENT

WITNESS:                        COURIER INVESTMENT CORPORATION

/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

                            (Signatures on next page)
<PAGE>   14

WITNESS:                        COURIER KENDALLVILLE, INC.

/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER PROPERTIES, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER STOUGHTON, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        COURIER WESTFORD, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        NATIONAL PUBLISHING COMPANY


/s/ Lee E. Cochrane             By: /s/ George Q. Nichols
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: PRESIDENT

WITNESS:                        COURIER NEW MEDIA, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER

WITNESS:                        BOOK-MART PRESS, INC.


/s/ Lee E. Cochrane             By: /s/ R. P. Story, Jr.
----------------------------        ----------------------------
Title: ASST. TREASURER              Title: TREASURER