<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

|X|          Quarterly report pursuant to Section 13 or 15(d) of the
             Securities Exchange Act of 1934

                      For the quarterly period ended March 31, 2002.

                                       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: 333-50117

                          ___________________________

                           AMERICAN LAWYER MEDIA, INC.
             (Exact name of registrant as specified in its charter)

         DELAWARE                                            13-3980414
(State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization)                         Identification Number)


     345 PARK AVENUE SOUTH
       NEW YORK, NEW YORK                                       10010
(Address of principal executive offices)                      (Zip Code)

       Registrant's telephone number, including area code: (212) 779-9200

                           __________________________

      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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.

                                 Yes |X| No |_|







As of May 14, 2002, there were 100 shares of the registrant's common stock, $.01
par value, outstanding.


<PAGE>


                           AMERICAN LAWYER MEDIA, INC.

                                      INDEX

                                                                            PAGE
PART I

FINANCIAL INFORMATION

     ITEM 1. FINANCIAL  STATEMENTS

         Consolidated Balance Sheets at March 31, 2002 (unaudited)
              and December 31, 2001..........................................1
         Consolidated Statements of Operations (unaudited) for the Three
             Months Ended March 31, 2002 and 2001............................2
         Consolidated Statement of Changes in Stockholder's Equity for
             the Three Months Ended March 31, 2002 (unaudited)...............3
         Consolidated Statements of Cash Flows (unaudited) for the Three
             Months Ended March 31, 2002 and 2001............................4
         Notes to Consolidated Financial Statements at
             March 31, 2002 (unaudited).....................................11

     ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS............12

     ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
               ABOUT MARKET RISK............................................15
PART II

OTHER INFORMATION

     ITEM 1. LEGAL PROCEEDINGS..............................................16

     ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS......................16

     ITEM 3. DEFAULTS UPON SENIOR SECURITIES................................16

     ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF
                  SECURITY HOLDERS..........................................16

     ITEM 5. OTHER INFORMATION..............................................16

     ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K...............................16



<PAGE>



                                     PART I

                              FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                           AMERICAN LAWYER MEDIA, INC.
                           CONSOLIDATED BALANCE SHEETS
                        (IN THOUSANDS, EXCEPT SHARE DATA)

<TABLE>
<CAPTION>
                                                                                       MARCH 31,     DECEMBER 31,
                                                                                         2002            2001
                                                                                     -------------   ------------
                                                                                      (UNAUDITED)
<S>                                                                                  <C>               <C>

                                                       ASSETS

Current assets:
Cash and cash equivalents........................................................... $    2,156        $   2,377
Accounts receivable, net of allowance for doubtful accounts and returns of
   $2,118 and $2,270, respectively..................................................     14,430           16,051
Deferred tax assets, net............................................................      3,925            3,925
Inventories, net....................................................................      1,565            1,530
Other current assets................................................................      2,858            3,231
                                                                                      ---------       ----------
      Total current assets..........................................................     24,934           27,114
Property, plant and equipment, net of accumulated depreciation and
   amortization of $15,912 and $14,744, respectively................................     10,806           11,384
Intangible assets, net of accumulated amortization of $50,901 and $47,670,
   respectively.....................................................................    125,891          129,122
Goodwill, net of accumulated amortization of $48,490 and $48,490,
   respectively.....................................................................    141,041          141,041
Deferred financing costs, net of accumulated amortization of $3,615 and
   $3,391, respectively.............................................................      4,301            4,525
Other assets........................................................................      2,794            1,664
                                                                                      ---------       ----------
       Total assets................................................................  $  309,767       $  314,850
                                                                                     ==========       ==========

                                        LIABILITIES AND STOCKHOLDER'S EQUITY

Current liabilities:
Accounts payable.................................................................... $    6,202       $    5,941
Accrued expenses....................................................................      9,024           10,627
Accrued interest payable............................................................      5,149              954
Deferred income (including deferred subscription income of $16,358 and
   $15,065, respectively)...........................................................     18,904           18,515
Other current liabilities...........................................................        150              350
                                                                                      ---------       ----------
       Total current liabilities....................................................     39,429           36,387
Long-term debt:
Revolving credit facility...........................................................     24,000           27,000
Senior notes........................................................................    175,000          175,000
                                                                                      ---------       ----------
       Total long-term debt.........................................................    199,000          202,000
Deferred income taxes...............................................................     24,258           25,366
Other noncurrent liabilities........................................................      6,525            7,271
                                                                                      ---------       ----------
       Total liabilities............................................................    269,212          271,024

Stockholder's equity:
Common stock-$.01 par value; 1,000 shares authorized; 100 issued and
   outstanding at March 31, 2002 and December 31, 2001..............................         --               --
Paid-in-capital.....................................................................    130,253          130,253
Accumulated deficit.................................................................    (89,653)         (86,444)
Accumulated other comprehensive (loss) gain.........................................        (45)              17
                                                                                      ---------       ----------
       Total stockholder's equity...................................................     40,555           43,826
                                                                                      ---------       ----------
       Total liabilities and stockholder's equity................................... $  309,767       $  314,850
                                                                                     ==========       ==========
</TABLE>

       The accompanying notes to the consolidated financial statements are
                     an integral part of these statements.



                                       1
<PAGE>



                           AMERICAN LAWYER MEDIA, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (IN THOUSANDS)
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                FOR THE THREE MONTHS ENDED
                                                                                          MARCH 31,
                                                                              ------------------------------
                                                                                   2002               2001
                                                                              -----------        -----------
<S>                                                                           <C>                <C>
Periodicals:
   Advertising......................................................          $    18,034        $    21,976
   Subscription.....................................................                5,548              5,748
Ancillary products and services.....................................                8,775             11,290
                                                                              -----------        -----------
   Total revenues...................................................               32,357             39,014
                                                                              -----------        -----------
OPERATING EXPENSES:
Editorial...........................................................                5,385              5,979
Production and distribution.........................................                6,535              8,748
Selling.............................................................                6,795              7,673
General and administrative..........................................                8,957              8,460
Depreciation and amortization.......................................                4,399              7,471
                                                                              -----------        -----------
   Total operating expenses.........................................               32,071             38,331
                                                                              -----------        -----------
   Operating income.................................................                  286                683
Interest expense....................................................               (4,262)            (5,045)
Other income........................................................                    5                 20
                                                                              -----------        -----------

   Loss before income taxes.........................................               (3,971)            (4,342)
Benefit for income taxes............................................                  762                574
                                                                              -----------        -----------
   Net loss.........................................................          $    (3,209)       $    (3,768)
                                                                              ===========        ===========
</TABLE>


       The accompanying notes to the consolidated financial statements are
                     an integral part of these statements.



                                       2
<PAGE>



                          AMERICAN LAWYER MEDIA, INC.
           CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY
                        (IN THOUSANDS, EXCEPT SHARE DATA)
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                           ACCUMULATED
                                                                          ADDITIONAL                         OTHER
                                                                            PAID-IN       ACCUMULATED     COMPREHENSIVE
                                               SHARES   PAR VALUE           CAPITAL         DEFICIT           LOSS         TOTAL
                                               ------   ---------         ----------      -----------     -------------   --------
                                                  COMMON STOCK
                                               ------------------
<S>                                                 <C>       <C>          <C>              <C>               <C>         <C>

Balance at December 31, 2001...............         100      $ --          $ 130,253        $ (86,444)        $   17      $ 43,826
Net loss...................................          --        --                 --           (3,209)            --        (3,209)
Unrealized loss on equity securities
  available for sale, net of taxes.........          --        --                 --               --            (62)          (62)
                                                   ----      ----          ---------       ----------         ------      --------

    Total comprehensive loss                         --        --                 --               --             --        (3,271)
                                                   ----      ----          ---------       ----------         ------      --------
Balance at March 31, 2002..................         100      $ --          $ 130,253        $ (89,653)         $ (45)     $ 40,555
                                                   ====      ====          =========        =========          ======     ========

</TABLE>

         The accompanying notes to the consolidated financial statements
                    are an integral part of this statement.



                                       3
<PAGE>


                           AMERICAN LAWYER MEDIA, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (IN THOUSANDS)
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                              FOR THE THREE MONTHS ENDED
                                                                                       MARCH 31,
                                                                              --------------------------
                                                                                  2002           2001
                                                                              -------------   ----------
<S>                                                                             <C>            <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss......................................................................  $ (3,209)      $ (3,768)
Adjustments to reconcile net loss to net cash provided by operating
   activities:
Depreciation and amortization.................................................     4,399          7,471
Non-cash interest.............................................................       224            208
   Decrease (increase) in:
Accounts receivable, net......................................................     1,622            564
Inventories...................................................................       (35)           (65)
Other current assets..........................................................        53            (23)
Other assets..................................................................      (873)           623
   Increase (decrease) in:
Accounts payable..............................................................       262         (2,683)
Accrued expenses..............................................................    (1,602)        (4,109)
Other current liabilities.....................................................      (200)            --
Accrued interest payable......................................................     4,195          4,361
Deferred income...............................................................       388           (344)
Other noncurrent liabilities..................................................    (1,854)          (334)
                                                                                --------       --------
   Total adjustments..........................................................     6,579          5,669
                                                                                --------       --------
   Net cash provided by operating activities..................................     3,370          1,901
                                                                                --------       --------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures..........................................................      (591)          (890)
Purchase of business..........................................................        --         (6,026)
                                                                                --------       --------
   Net cash used in investing activities......................................      (591)        (6,916)
                                                                                ---------      --------

CASH FLOWS FROM FINANCING ACTIVITIES:
(Payments) advances under revolving credit facility...........................    (3,000)         4,700
                                                                                ---------      --------
   Net cash (used in) provided by financing activities........................    (3,000)         4,700
                                                                                ----------     --------
   Net decrease in cash.......................................................      (221)          (315)
                                                                                ---------      --------

CASH, beginning of period.....................................................     2,377          2,263
                                                                                --------       --------

CASH, end of period...........................................................  $  2,156       $  1,948
                                                                                ========       ========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period:
   Income taxes...............................................................  $     --       $    473
                                                                                ========       ========
   Interest...................................................................  $    399       $    492
                                                                                ========       ========
</TABLE>

       The accompanying notes to the consolidated financial statements are
                     an integral part of these statements.



                                       4
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


1. ORGANIZATION & OPERATIONS

         American Lawyer Media, Inc. ("we," "us," "our" or the "Company") is a
wholly-owned subsidiary of American Lawyer Media Holdings, Inc. ("Holdings"). We
publish legal publications, including The American Lawyer, New York Law Journal,
The National Law Journal and Corporate Counsel. Our operations are based in New
York with regional offices in ten states, the District of Columbia and London,
England.

         On January 31, 2001, we consummated the acquisition of substantially
all of the assets and certain of the liabilities of Haslam Publications, the
leading publisher of jury verdict and settlement research data in California.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information. Accordingly, they do not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, the interim financial
statements include all adjustments, which are of a normal recurring nature, that
management considers necessary to fairly present the financial position and the
results of operations for such periods. Results of operations of interim periods
are not necessarily indicative of results for a full year. These financial
statements should be read in conjunction with the audited consolidated financial
statements in our Annual Report on Form 10-K for December 31, 2001.

Principles of Consolidation

         The consolidated financial statements include the accounts of American
Lawyer Media, Inc. and our wholly-owned subsidiaries which, unless the context
otherwise requires, are collectively referred to herein as "we," "us," "our," or
the "Company". Intercompany transactions and balances have been eliminated in
consolidation.

Use of Estimates

         The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclose contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.

Concentrations of Credit Risk

Our financial instruments that are exposed to concentration of credit risk
consist primarily of cash and cash equivalents and trade accounts receivable. We
believe that we are not exposed to any significant credit risk related to cash
and cash equivalents. Concentrations of credit risk with respect to trade
accounts receivable are, except for amounts due from legal advertising agents,


                                       5
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

generally limited due to the large number of customers comprising our customer
base. Legal advertising agents do not have significant liquid net worth and, as
a result, we are exposed to a certain level of credit concentration risk in this
area, for which we believe we have adequately provided.

Revenue Recognition

         Periodical advertising revenues are generated from the placement of
display and classified advertisements, as well as legal notices, in our
publications. Advertising revenue is recognized upon release of the related
publications.

         Periodical subscription revenues are recognized on a pro rata basis as
issues of a subscription are served.

         Ancillary products and services revenues consist principally of
newsletter subscriptions, sales of professional books, seminar and trade show
income and income from a daily fax service of court decisions. In addition,
ancillary products and services revenues include third party printing revenue
until July 2001 at which point the assets from the Florida printing operations
were sold and such third party printing ceased. Book revenues are recognized
upon shipment and are reflected net of estimated returns. Newsletter revenues
are recognized on the same basis as periodical subscription revenues. Seminar
and trade show revenues are recognized when the seminar or trade show is held.
Daily fax service revenues are recognized upon fulfillment of orders.

Deferred Subscription Income

         Deferred subscription income results from advance payments or orders
for subscriptions received from subscribers and is amortized on a straight-line
basis over the life of the subscription as issues are served. Subscription
receivables of approximately $2,460,000 and $1,997,000 are included in accounts
receivable in the accompanying consolidated March 31, 2002 and December 31, 2001
balance sheets, respectively.

Advertising and Promotion Expenditures

         Advertising and promotion expenditures totaled approximately $1,891,000
and $1,869,000 for the three months ended March 31, 2002 and 2001, respectively.
These costs are expensed as the related advertisement or campaign is released.

Cash and Cash Equivalents

         We consider time deposits and certificates of deposit with original
maturities of three months or less to be cash equivalents.



                                       6
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Inventories

         Inventories consist principally of paper and related binding materials
utilized by us and our outside printers as well as professional books published
and sold by us. Inventories are stated at the lower of cost, as determined by
the weighted average cost method, or market.

Accounting for Long-Lived Assets

         On January 1, 2002, we adopted Statement of Financial Accounting
Standards ("SFAS") No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets." SFAS No. 144 replaces No. 121, "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of."
The Statement is intended to develop one accounting model, based on the
framework established in SFAS No. 121, for long-lived assets to be disposed of
by sale and to address significant implementation issues. In accordance with
this Statement, we periodically review long-lived assets and certain
identifiable intangibles for impairment whenever events or changes in
circumstances indicate that the carrying amount of an asset may not be fully
recoverable. Impairment of long-lived assets exists if, at a minimum, the future
expected cash flows (undiscounted and without interest charges) from an entity's
operations are less than the carrying value of these assets. Under the
guidelines of this statement, we do not believe that any such impairment has
occurred related to goodwill or intangibles.

Property, Plant and Equipment

         Property, plant and equipment is stated at cost. Significant
improvements are capitalized, while expenditures for maintenance and repairs are
charged to expense as incurred. Depreciation is calculated using the
straight-line method over the following estimated useful lives:

<Table>
<S>                                            <C>
Buildings...................................    25 years
Furniture, machinery and equipment..........   5-9 years
Computer equipment and software.............   3-6 years
</Table>

         Leasehold improvements are amortized over the shorter of the remaining
lease term or the estimated useful life.

Goodwill and Intangible Assets

         We adopted SFAS No. 142, "Goodwill and Other Tangible Assets",
effective January 1, 2002. SFAS No. 142 requires that an intangible asset that
is acquired shall be initially recognized and measures based on its fair value.
This statement also provides that goodwill and certain intangibles should not be
amortized, but shall be tested for impairment annually, or more frequently if
circumstances indicate potential impairment, through a comparison of fair value
to its carrying amount. In the first quarter of 2002, we ceased amortization of
goodwill and we are currently performing the first step of the required two-step
impairment testing. The first step of the impairment test requires us to compare
the fair value of each reporting unit to its carrying value to determine whether
there is an indication that an impairment may exist. If there is an



                                       7
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

indication of impairment, we would allocate the fair value of the reporting unit
to its assets and liabilities as if the reporting unit had been acquired in a
business combination. The amount of impairment for goodwill is measured as the
excess of its carrying value over its fair value. Based on the results of our
impairment test, which will be completed during the second quarter of 2002, we
will determine whether or not an impairment charge in accordance with the
adoption of this statement is necessary.

         Intangible assets with determinate lives represent trademarks,
advertiser commitments, uniform resource locators, copyrights, customer and
subscriber lists and non-compete agreements. They are stated at cost less
accumulated amortization and are amortized on a straight-line basis over a
weighted average useful life of fifteen years. These intangibles will be
reassessed continuously, and shall be assessed for impairment under the
provisions of SFAS No. 121.

Income Taxes

         Income taxes are recognized during the year in which transactions enter
into the determination of financial statement income. Deferred taxes are
provided for temporary differences between amounts of assets and liabilities for
financial reporting purposes and such amounts as measured pursuant to the tax
laws. The federal income tax benefit is recorded in the accompanying
consolidated statements of operations, reflecting the fact that we file a
consolidated tax return with our parent, Holdings.

3. DEBT

         On December 22, 1997, we issued $175,000,000 aggregate principal amount
of 9.75% Senior Notes (the "Notes") due December 15, 2007. The Notes are
unsecured general senior obligations and are fully and unconditionally
guaranteed, on a joint and several and senior unsecured basis, by us, and each
of our existing and future subsidiaries. The subsidiary guarantors comprise all
of our direct and indirect subsidiaries. Separate financial statements of, and
other disclosures concerning, the subsidiary guarantors are not included herein
because of the subsidiary guarantors' full and unconditional guarantee of the
Notes and management's determination that separate financial statements and
other disclosures concerning the subsidiary guarantors are not material and
would not provide any additional meaningful disclosure. There are currently no
contractual or regulatory restrictions limiting the ability of the subsidiary
guarantors to make distributions to us. The Notes may be redeemed at any time by
us, in whole or in part, at various redemption prices that include accrued and
unpaid interest. The Notes contain certain covenants that, among other things,
limit the incurrence of additional indebtedness by us and our subsidiaries, the
payment of dividends and other restricted payments by us and our subsidiaries,
asset sales, transactions with affiliates, the incurrence of liens and mergers
and consolidations. Assuming there is no redemption of the Senior Notes prior to
maturity, the entire principal will be payable on December 15, 2007.



                                       8
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


3. DEBT (CONTINUED)

         On March 25, 1998, Holdings and we signed a credit agreement with
various banks that has a combined revolving commitment in the initial principal
amount of $40,000,000 (the "Revolving Credit Facility"). Finance costs
associated with the Revolving Credit Facility have been capitalized and are
being amortized over the term of the agreement. The Revolving Credit Facility is
guaranteed by Holdings and by all of our subsidiaries. In addition, the
Revolving Credit Facility is secured by a first priority security interest in
substantially all of the properties and assets of us and our domestic
subsidiaries, including a pledge of all of the stock of such subsidiaries, and a
pledge by Holdings of all of our stock. The Revolving Credit Facility bears
interest at a fluctuating rate determined by reference to (i) the base rate plus
a margin ranging from .25% to 1.5%, or (ii) the Eurodollar Rate plus a margin
ranging from 1.25% to 2.5%, as the case may be. The applicable margin is based
on our total consolidated leverage ratio. The base rate equals the higher of (a)
the rate of interest publicly announced from time to time by Bank of America as
its reference rate, or (b) the Federal funds rate plus .5%. The Eurodollar Rate
is based on (i) the interest rate per annum at which deposits in U.S. Dollars
are offered by Bank of America's applicable lending office to major banks in the
offshore market account in an aggregate principal amount approximately equal to
the amount of the loan made to us and (iii) the maximum reserve percentage in
effect under regulations issued from time to time by the Federal Reserve Board.
We are also required to pay customary fees with respect to the Revolving Credit
Facility, including an up-front arrangement fee, annual administrative agency
fees and commitment fees on the unused portion of the Revolving Credit Facility.
The Revolving Credit Facility includes both affirmative and negative covenants
that include meeting certain financial ratios. Assuming there is no repayment of
the Revolving Credit Facility prior to term, the entire amount will be payable
on March 31, 2003.

         Effective March 29, 1999, Holdings and we amended the Revolving Credit
Facility to limit the our ability to borrow in excess of $20,000,000 under the
Revolving Credit Facility until certain ratios are achieved. This amendment also
adjusted certain covenants contained in the original Revolving Credit Facility.

         Effective July 20, 1999, the Revolving Credit Facility was further
amended to permit the sale of our Internet business to Law.com, Inc., and to
modify certain debt covenants.

         Effective March 28, 2000, the Revolving Credit Facility was further
amended to modify certain of the debt covenants, to permit the sale of the
business constituting The Daily Deal and Corporate Control Alert (the
"Business") to The Deal, L.L.C. and to increase the revolver limit described
above from $20.0 million to $22.5 million.

         Effective January 10, 2001, the Revolving Credit Facility was further
amended to modify certain of the covenants, to permit the Haslam acquisition and
to increase the borrowing limit described above from $22.5 million to $29.0
million.

         Effective August 10, 2001, the Revolving Credit Facility was amended to
permanently reduce the aggregate revolving commitment to $29.0 million and to
clarify certain sections as well as to waive compliance with certain of the
covenants at June 30, 2001.



                                       9
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


3. DEBT (CONTINUED)

         Effective October 15, 2001, we received a waiver of compliance with
certain of the covenants at September 30, 2001 and at December 31, 2001.

         Effective February 22, 2002, our revolving credit facility was amended
to modify the covenants relating to the total leverage ratio, interest coverage
ratio and fixed charge ratio for the remainder of the term of the line of
credit. In addition, the revolving credit facility was also amended to allow us
to receive equity securities in non-related entities as payment for advertising
services provided by us, within certain limits in any one fiscal year.

         At March 31, 2002, the amount outstanding under the Revolving Credit
Facility was $24.0 million. The available balance under the unused commitment is
reduced by any letters of credit outstanding, which totaled $1,121,000 at March
31, 2002. A 10% increase in the average interest rate of borrowing under the
Revolving Credit Facility during the three months ended March 31, 2002 would
have increased our net loss to approximately $3,242,000.

         Effective May 1, 2002, the outstanding balance under the above
Revolving Credit Facility was repaid and the existing Revolving Credit Facility
was terminated. In addition, on May 1, 2002, a new credit facility was
originated (see Note 5 - Subsequent Events).

4. RESTRUCTURING CHARGE

         During the second and fourth quarters of 2001, upon the decision to
restructure certain of our operations, we accrued approximately $1.7 million and
$0.3 million, respectively, of restructuring charges. These charges primarily
relate to severance arrangements and have been included in operating income. As
of March 31, 2002, approximately $0.4 million, representing the unpaid charges,
is included in accrued expenses.

5. SUBSEQUENT EVENTS

         Effective May 1, 2002, Holdings acquired Law.com, Inc., a Delaware
corporation, ("Law.com"), and a provider of web content and seminars for the
legal industry. Prior to our acquisition of Law.com, Law.com's RealLegal
applications services business was spun off to Law.com shareholders as a new
entity, RealLegal, LLC. Holdings acquired Law.com through the acquisition of all
of the 1,707,790 shares of outstanding common stock of Law.com from its
shareholders in exchange for an aggregate of 120,030 shares of our common stock,
par value $0.01 per share. The acquired businesses include practice centers for
specialty law practice areas, state Web sites and information sites for in-house
counsel, law students and legal technology professionals.

         After completion of our acquisition of Law.com, Holdings contributed
all of the outstanding shares of common stock of Law.com to us as a capital
contribution. Law.com will operate as our subsidiary.


                                       10
<PAGE>

                           AMERICAN LAWYER MEDIA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2002
                                   (UNAUDITED)


5. SUBSEQUENT EVENTS (CONTINUED)

         Also, on May 1, 2002, we, The New York Law Publishing Company ("NYLP")
and Holdings entered into a credit agreement, dated as of May 1, 2002, with
General Electric Capital Corporation ("GECC") and the lenders signatory thereto
in accordance with which GECC will provide our operating subsidiary, NYLP with a
$40 million revolving credit facility (the "GECC Facility"). The GECC Facility
replaces our Revolving Credit Facility and proceeds from the GECC Facility will
be used to refinance existing indebtedness, provide working capital and finance
capital expenditures. The obligations of NYLP under the GECC Facility are
guaranteed by us, and Holdings and all of our domestic subsidiaries and are
secured by all of the personal property assets of us, Holdings and our domestic
subsidiaries (including the stock of all our domestic subsidiaries and 65% of
the stock of our first-tier foreign subsidiaries). The GECC Facility bears
interest at a fluctuating rate determined by reference to (i) the index rate
plus a margin of 2.00%, or (ii) the Eurodollar Rate ("LIBOR") plus a margin of
3.5%. We are also required to pay customary fees with respect to the GECC
Facility, including an up-front arrangement fee, annual administrative agency
fees and commitment fees on the unused portion of the GECC Facility. The GECC
Facility includes both affirmative and negative covenants that include meeting
certain financial ratios. The term of the GECC Facility is 60 months.



                                       11
<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

         The following discussion should be read in conjunction with our
historical consolidated financial statements, including the notes thereto,
included elsewhere in this Form 10-Q.

         Any statements in this quarterly report concerning our business outlook
or future economic performance, anticipated profitability, revenues, expenses or
other financial items, together with other statements that are not historical
facts, are "forward-looking statements" as that term is defined under the
federal securities laws. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from those stated in such statements. Such risks, uncertainties and
factors include, but are not limited to, changes in the levels of advertising
revenues, changes and delays in new product introductions, customer acceptance
of new products and general economic conditions, as well as other risks detailed
in our filings with the Securities and Exchange Commission.

Overview

         The following discussion compares our financial results for three
months ended March 31, 2002 to the three months ended March 31, 2001.

         On January 31, 2001, we consummated the acquisition substantially all
of the assets of and certain of the liabilities of Haslam Publications
("Haslam"), the leading publisher of jury verdict and settlement research data
in California.

         During the second and fourth quarters of 2001, upon the decision to
restructure certain of our operations, we accrued approximately $1.7 million and
$0.3 million, respectively, of restructuring charges. These charges primarily
relate to severance arrangements and have been included in operating income. As
of March 31, 2002, approximately $0.4 million, representing the unpaid charges,
is included in accrued expenses.

         In addition, during the second quarter of 2001, we recorded a permanent
impairment of $4.7 million on our private equity investments.

         In July 2001, we sold certain of our assets associated with our Florida
printing facility. In connection with the sale of the net assets, we recorded a
loss of $0.9 million.

RESULTS OF OPERATIONS

         Three Months Ended March 31, 2002 Compared to Three Months Ended
March 31, 2001

         Overview. Revenues decreased by $6.7 million, or 17.1%, from $39.0
million for the three months ended March 31, 2001 to $32.3 million for the three
months ended March 31, 2002. Total operating expenses decreased $6.2 million, or
16.3%, from $38.3 million for the three months ended March 31, 2001 to $32.1
million for the three months ended March 31, 2002. As a result, the net
operating profit totaled $0.7 million for the three months ended March 31, 2001
as compared to a net operating profit of $0.3 million for the three months ended
March 31, 2002. Earnings before interest, income taxes, depreciation and
amortization and other extraordinary gains and losses ("EBITDA") also declined
$3.5 million, or 42.5%, from $8.2 million for the three months ended March 31,
2001 to $4.7 million for the three months ended March 31, 2002.



                                       12
<PAGE>

Lower operating profit and the decline in EBITDA during the three months ended
March 31, 2002, resulted primarily from revenues declining at a quicker pace
than operating expenses.

         Revenues. Revenue declines for the three months ended March 31, 2002
compared to the three months ended March 31, 2001 reflect the impact of the
continued slowdown within the economy and the advertising industry which
resulted in lower advertising revenues and declines in book, seminar and
tradeshow revenues. In addition, due to the sale of our Florida printing
operations during the third quarter of 2001, no commercial printing revenue was
recorded in 2002 as compared to $0.7 million for the three months ended March
31, 2001.

         Advertising revenues decreased $4.0 million, or 17.9%, from $22.0
million for the three months ended March 31, 2001 to $18.0 million for the three
months ended March 31, 2002. The decline in advertising revenues resulted from a
decrease in classified, display, legal notice and law firm advertising resulting
from the continuation of the economic downturn we experienced throughout 2001.
Classified advertising was the largest contributor to this decline with a
decrease of $2.0 million, or 28.4%, which occurred across virtually all of our
publications. In addition, display advertising decreased $1.2 million, or 20.2%,
during the three months ended March 31, 2002 as compared to the same period of
the prior year. Also contributing to these declines were decreases in legal
notice advertising of $0.7 million and law firm advertising of $0.4 million.
Partially offsetting these declines was growth in directories revenue of $0.3
million, resulting from growth in our expert witness division.

         Subscription revenues decreased $0.2 million, or 3.5%, from $5.7
million for the three months ended March 31, 2001 to $5.5 million for the three
months ended March 31, 2002. The decline in subscription revenue in 2002
resulted primarily from a slight decline in subscriptions in many of our
regional publications.

         Revenues from ancillary products and services decreased $2.5 million,
or 22.3%, from $11.3 million for the three months ended March 31, 2001 to $8.8
million for the three months ended March 31, 2002. The decline in revenues from
ancillary products and services resulted primarily from lower seminar and trade
show revenues due to fewer sponsorships in our international trade shows and
lower overall attendance in tradeshows during 2002, lower printing revenues
resulting from the sale of our Florida printing operations early in the third
quarter of 2001, lower content and licensing and royalty fees from the amendment
of our agreement with Law.com to exclusively develop and supply legal content,
and lower recorded revenue in our book and newsletter division.

         Operating expenses. Total operating expenses decreased $6.2 million, or
16.3%, from $38.3 million for the three months ended March 31, 2001 to $32.1
million for the three months ended March 31, 2002. Lower operating expenses
during the three months ended March 31, 2002 as compared to the three months
ended March 31, 2001 were primarily realized in depreciation and amortization,
production and distribution, selling and editorial expense categories. These
decreases were partially offset by an increase of $0.5 million in general and
administrative expenses.

         Editorial expenses decreased $0.6 million, or 9.9%, from $6.0 million
for the three months ended March 31, 2001 to $5.4 million for the three months
ended March 31, 2002. The decrease in editorial expenses primarily resulted from
our restructuring efforts during the second and fourth quarters of 2001 along
with lower costs related to reduced syndication revenues and from cost
containment efforts implemented during late 2001 and into 2002.


                                       13
<PAGE>

         Production and distribution expenses decreased $2.2 million, or 25.3%,
from $8.7 million for the three months ended March 31, 2001 to $6.5 million for
the three months ended March 31, 2002. Lower production and distribution
expenses resulted primarily from the elimination of commercial printing expenses
due to the sale of our Florida printing operations during the third quarter of
2001, lower production expenses resulting from office automation and expenses
directly related the decline in revenues during the first quarter of 2002.

         Selling expenses decreased $0.9 million, or 11.4%, from $7.7 million
for the three months ended March 31, 2001 to $6.8 million for the three months
ended March 31, 2002. The decrease was primarily attributable to lower selling
expenses directly related to the decline in revenues for the quarter ended March
31, 2002 and our cost containment efforts. This decline was primarily in
classified, display and law firm selling expenses and was partially offset by an
increase in our direct mail efforts.

         General and administrative expenses increased $0.5 million from $8.5
million for the three months ended March 31, 2001 to $9.0 million for the three
months ended March 31, 2002. This increase resulted primarily from increased
external legal and other professional fees, increased provisions for
uncollectible receivables and higher occupancy and general operating costs.

         Depreciation and amortization expenses decreased $3.1 million, or
41.1%, from $7.5 million for the three months ended March 31, 2001 to $4.4
million for the three months ended March 31, 2002. This decline primarily
resulted from the elimination of amortization of goodwill in 2002 resulting from
the implementation of FSAS No. 142, "Goodwill and Other Intangible Assets."

         Operating profit. As a result of the above factors, the operating
profit totaled $0.3 million for the three months ended March 31, 2002 as
compared to an operating profit of $0.7 million for the three months ended March
31, 2001. In addition, EBITDA decreased $3.5 million, or 42.5%, from $8.2
million for the three months ended March 31, 2001 to $4.7 million for the three
months ended March 31, 2002.

Liquidity and Capital Resources

         Capital expenditures. Capital expenditures decreased $0.3 million, or
33.6%, from $0.9 million for the three months ended March 31, 2001 compared to
$0.6 million for the three months ended March 31, 2002. Capital expenditures for
the three months ended March 31, 2002 included costs of $0.4 million attributed
to database and website development along with computer hardware replacement. In
addition, $0.2 million of capital expenditures were incurred for the renovations
of a regional office. Capital expenditures for 2001 primarily resulted from
database development, enhancements to existing computer systems and facilities
and equipment modernization.

         Net cash provided by operating activities. Net cash provided by
operating activities was $3.4 million for the three months ended March 31, 2002,
which primarily reflects depreciation and amortization of $4.4 million, an
increase in accrued interest payable of $4.2 million, a decrease in accounts
receivable of $1.6 million, an increase in deferred income of $0.4 million and
an increase in non-cash interest of $0.2 million, partially offset by a net loss
of $3.2 million, a



                                       14
<PAGE>

decrease in accounts payable and accrued expenses of $1.3 million, a decrease in
other non-current liabilities of $1.8 million and an increase in other assets of
$0.9 million.

         Net cash used in investing activities. Net cash used in investing
activities was $0.6 million for the three months ended March 31, 2002, resulting
from capital expenditures made during the first quarter of 2002.

          Net cash used in financing activities. Net cash used in financing
activities totaled $3.0 million for the three months ended March 31, 2002, which
reflects a net repayment under our Revolving Credit Facility.

         Liquidity. Our principal sources of funds are anticipated to be cash
flows from operating activities, which may be supplemented by borrowings under
our GECC Facility. The Revolving Credit Facility had $24.0 million outstanding
as of March 31, 2002 and accrues interest as described in Note 3 to the
Consolidated Financial Statements. For details relating to the terms of our GECC
Facility entered into on May 1, 2002, see Note 3 to the Consolidated Financial
Statements. We believe that these funds will be sufficient to meet our current
financial obligations, which include the payment of principal and interest on
the $175,000,000 of 9.75% senior notes, the outstanding balance under our GECC
Facility, working capital, capital expenditures and other obligations. No
assurance can be given, however, that this will be the case. Our future
operating performance and ability to service or refinance our debt and to repay,
extend or refinance any credit agreements to which we are a party will be
subject to future economic conditions and to financial, business and other
factors, many of which are beyond our control.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         See footnote 3 to the Consolidated Financial Statements.


                                       15
<PAGE>

                                     PART II
                                OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         We are a party to various litigation matters incidental to the conduct
of our business. We do not believe that the outcome of any of the matters in
which we are currently involved will have a material adverse effect on our
financial condition or on the results of our operations.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None.

ITEM 5.  OTHER INFORMATION

         None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a) Exhibits

             99.1 Receipt of Arthur Andersen LLP letter

         (b) Reports on Form 8-K

             None


                                       16
<PAGE>




                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                     AMERICAN LAWYER MEDIA, INC.

                        May 14, 2002           /s/ WILLIAM L. POLLAK
                                       -----------------------------------------
                                                  William L. Pollak
                                         President and Chief Executive Officer


                        May 14, 2002           /s/ STEPHEN C. JACOBS
                                      ------------------------------------------
                                                  Stephen C. Jacobs
                                      Vice President and Chief Financial Officer