UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                             AMEMNDMENT NUMBER 1 TO
                                    FORM 10-K



           [ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
                  For the fiscal year ended: November 30, 2001

                                       or

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                        For the transition period from to

                        Commission file Number: 000-21623

                             OBIE MEDIA CORPORATION

                   4211 West 11th Avenue, Eugene, Oregon 97402

                    (Address of principal executive offices)

                    Issuer's telephone number:  541-686-8400

       Securities registered under Section 12(b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange Act:

                         Common Stock, without par value

                                (Title of class)

     Indicate by check mark whether the issuer (1) filed all reports required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the past 12 months (or for such shorter  period that the registrant was required
to file such reports),  and (2) has been subject to such filing requirements for
the past 90 days.

         X Yes        No

     Indicate by check mark if disclosure  of  delinquent  filers in response to
Item 405 of Regulation S-K is not contained  herein,  and will not be contained,
to the best of  registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part  III of this  Form  10-K or any
amendment to this Form 10-K. [ ]

     State issuer's revenues for its most recent fiscal year:  $66,263,376

     State the aggregate  market value of the voting stock held by nonaffiliates
computed by reference  to the price at which the stock was sold,  or the average
bid and asked prices of such stock,  as of a specified date within 60 days prior
to the date of filing:  $16,248,587  aggregate  market  value as of December 31,
2001, based on the price at which the stock was sold.

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common equity, as of the latest practicable date:  5,908,577 shares of Common
Stock, without par value, on February 15, 2002.

                                PRELIMINARY NOTE

THE SOLE PURPOSE OF THIS AMENDMENT IS TO REVISE PAGE F-2A OF THE ORIGINAL REPORT
ON FORM 10-K THAT WAS SUBMITTED FEBRUARY 27, 2001
<PAGE>
Report of Independent Public Accountants

To the Board of Directors and Shareholders of
Obie Media Corporation:


We have audited the accompanying consolidated balance sheet of Obie Media
Corporation (an Oregon corporation) and subsidiaries as of November 30, 2000,
and the related consolidated statements of income, shareholders' equity and cash
flows for each of the two years in the period ended November 30, 2000. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.


We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Obie Media Corporation and
subsidiaries as of November 30, 2000, and the results of their operations and
their cash flows for each of the two years in the period ended November 30, 2000
in conformity with accounting principles generally accepted in the United
States.


                                                         /s/ Arthur Andersen LLP


Portland, Oregon
February 19, 2001




                                      F-2a
<PAGE>
SIGNATURES

In accordance  with Section 13 or 15(d) of the Securities  Exchange Act of 1934,
the Registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

OBIE MEDIA CORPORATION

Dated:  February 28, 2002          By/s/ BRIAN B. OBIE
                                     --------------------------------
                                   Brian B. Obie, Chairman, President
                                   and Chief Executive Officer