<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

(Mark One)
 X    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
---
      EXCHANGE ACT OF 1934
For the fiscal year ended December 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 0-22554

                          OPINION RESEARCH CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                               22-3118960
-------------------------------                           ----------------------
(State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization)                            Identification Number)

23 Orchard Road, Skillman, New Jersey                               08558
----------------------------------------                         ----------
(Address of principal executive offices)                         (Zip Code)

Registrant's telephone number, including area code: (908) 281-5100
                                                    --------------

Securities registered pursuant to Section 12(b) of the Act:
                                      None

Securities registered pursuant to Section 12(g) of the Act:

                          Common Stock, $.01 par value
                          ----------------------------

                         Preferred Stock Purchase Rights
                         -------------------------------
                               (Titles of Classes)

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 ___
                                              ---

<PAGE>

     Indicate by check mark if disclosure of delinquent filers pursuant 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. [X]

     Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes ___ No  X
                                                ---

     The aggregate market value of the common stock held by non-affiliates of
the Registrant, based on the closing sale price of its common stock on June 28,
2002, the last business day of the Company's second fiscal quarter, as quoted on
the Nasdaq National Market, was approximately $16,066,000.*

     As of February 26, 2003, 6,042,802 shares of common stock, par value $.01
per share, were outstanding.


                       DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant's definitive Proxy Statement, which will be filed
with the Securities and Exchange Commission in connection with the Registrant's
2003 Annual Meeting of Stockholders, are incorporated by reference into Part III
of this report.

_______________________
*Calculated by excluding all shares that may be deemed to be beneficially owned
by executive officers and directors of the Registrant, without conceding that
all such persons are "affiliates" of the Registrant for purposes of the federal
securities laws.

<PAGE>

                          OPINION RESEARCH CORPORATION

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                       Page
                                                                                       ----
<S>                                                                                    <C>
                                     PART I

Item 1.   Business ..................................................................     1

Item 2.   Properties ................................................................     9

Item 3.   Legal Proceedings .........................................................    11

Item 4.   Submission of Matters to a Vote of Security Holders .......................    11

          Executive Officers of the Registrant ......................................    11

                                     PART II

Item 5.   Market for Registrant's Common Equity and Related Stockholder Matters .....    13

Item 6.   Selected Financial Data ...................................................    14

Item 7.   Management's Discussion and Analysis of Financial Condition and Results
          of Operations .............................................................    15

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk ................    26

Item 8.   Financial Statements and Supplementary Data ...............................    26

Item 9.   Changes in and Disagreements with Accountants on Accounting
          and Financial Disclosure ..................................................    26

                                    PART III

Item 10.  Directors and Executive Officers of the Registrant ........................    27

Item 11.  Executive Compensation ....................................................    27

Item 12.  Security Ownership of Certain Beneficial Owners and Management ............    27

Item 13.  Certain Relationships and Related Transactions ............................    28

Item 14.  Controls and Procedures ...................................................    28

                                     PART IV

Item 15.  Exhibits, Financial Statements Schedules, and Reports on Form 8-K .........    29

Signatures ..........................................................................    36

Certification .......................................................................    37

Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 .............    41
</TABLE>

<PAGE>

Except where the context indicates otherwise, the term "Company" refers to
Opinion Research Corporation and its subsidiaries. All dollar amounts presented
in this Annual Report on Form 10-K are in thousands unless indicated otherwise.
Readers of this report should review carefully the information contained under
the headings "Risk Factors" and "Forward-looking Statements" in Part II.

                                     PART I

Item 1.   Business

General

          Opinion Research Corporation (the "Company") was established in 1938
to apply the principles of general public opinion polling to marketing issues
facing America's largest companies. The Company has evolved to provide social
research, market research, information services, marketing services, and
telemarketing. The Company performs public sector primary research and provides
information technology, communications, and other consulting services, primarily
to agencies of the United States federal government and state and local
governments. The Company also assists its commercial clients in the evaluation,
monitoring and optimization of their marketing and sales efforts, addressing
issues such as customer loyalty and retention, market demand and forecasting,
and corporate image and competitive positioning. The majority of the Company's
governmental projects are in the areas of health, education, and international
aid. The Company's telemarketing services consist principally of outbound
customer acquisition services.

          The Company completed its initial public offering in October 1993.
Between 1993 and 1997, as part of its globalization strategy, the Company
established its presence in the United Kingdom, Asia and Mexico through various
acquisitions. In January 1998, the Company acquired ProTel Marketing, Inc. ("ORC
ProTel" or "ProTel"), a high quality telemarketing company based in Lansing,
Illinois. In May 1999, the Company acquired Macro International Inc. ("ORC
Macro" or "Macro"), a predominately public sector research, consulting and
technology company based in the Washington, D.C. area. The Macro acquisition
substantially increased the Company's presence in the public sector. In
September 2000, the Company acquired C/J Research, Inc. ("C/J"), and in November
2000, acquired Social & Health Services, Ltd. ("SHS"). The two acquisitions in
2000 provided expansion opportunities for the Company in the areas of consumer
research, social research and information management.

          The Company collects customer, market, and demographic information
through computer-assisted telephone interviews, internet based data collection
techniques, personal interviews, mail questionnaires and specialized techniques
such as business panels. Management believes that the Company's extensive
expertise with regard to certain business and social issues enables it to
provide reliable customer, market, and demographic information and advisory
services to clients. The Company also believes that its recognized name and
long-standing reputation enable it to obtain information from senior executives
who are difficult to access.

          The Company's strategy for market research focuses on client projects
that require periodic updating and tracking of information, thereby creating the
potential for higher-margin

                                      -1-

<PAGE>

recurring revenues. The portion of the Company's market research revenues from
such projects was approximately 61% in 2002.

The Company's Services and Products

          The Company offers a variety of services and products to assist
clients with their strategic and tactical decisions as well as their plans for
marketing products and services.

Services

          Advanced Analytics & Data Modeling. The Company's diagnostic and
statistical models are among the most sophisticated in market research. By
focusing on its clients' business issues and the application of the right
analytic tools, the Company can effectively transform data and analyses into
intelligence and insight.

          Communications and Marketing Services. The Company provides full
service communications and marketing services to private, not-for-profit, and
government organizations. These services include strategic planning;
communication and marketing campaign development; brochure design and
production; print, radio and television advertising; web site development and
management; brand development; public relations; video development and
broadcasting; clearinghouse, warehousing and fulfillment services, and inbound,
web-enabled call center services.

          These services are mainly concentrated in public health and education
arenas where the Company has won awards for their success in areas such as the
reduction of drug, tobacco and alcohol use among teens, and the prevention of
school violence.

          Corporate Reputation & Branding. The Company works with clients
worldwide to manage their corporate and brand images; identify and achieve
optimal positioning in the marketplace; and strengthen equity with customers,
employees and the financial community. The strength of a client's image or
reputation is identified through interviews with constituency groups with whom
the client interacts and whose decisions influence the client's success. These
groups may include customers, potential customers, distributors, suppliers, the
media and the investment community.

          Customer Loyalty & Retention. The Company assists its clients in
quantifying customer loyalty and increasing customer retention. By capturing and
analyzing the perceptions and experiences of its clients' prospects, clients,
and employees, the Company provides analysis and feedback on customer loyalty
which drives superior customer retention and business performance. The Company
provides its clients with information on the elements of products or services
which are most important to their customers; on how well these products and
services compare to the competition; and on which customers will continue to
purchase and recommend such products and services.

                                      -2-

<PAGE>

          Data Collection & Processing. The Company's telephone interviewing
call centers in North America, Europe and Asia combine research expertise and
advanced telecommunications technology. These facilities, staffed with
multilingual interviewers, use the Computer Assisted Telephone Interviewing
(CATI) system, which provides clients with highly efficient and cost effective
data and information collection. The Company also utilizes internet based data
collection techniques.

          Demographic and Health Research. The Company manages international
research programs in developing nations for organizations such as The United
States Agency for International Development ("USAID"), the World Health
Organization ("WHO"), and UNICEF. By providing information for informed
decisions in population, health and nutrition, it supports a range of data
collection options that can be tailored to fit specific monitoring and
evaluation needs of government organizations. These include a variety of
population and facility-based surveys, secondary data analyses and other
specialized research such as qualitative, education and gender-based studies.

          Employee Survey Programs. The Company provides comprehensive
employee-related research services to measure satisfaction, increase staff
retention, reduce hiring and training costs, and improve customer service. Using
proprietary computer software, exclusive multi-industry benchmarking databases
and a combination of quantitative and qualitative methodologies, the Company
works with clients to identify strengths and weaknesses. The Company implements
all stages of program management, from questionnaire design and processing
through reporting, final analysis and recommendations for action.

          Information Technologies. The Company offers a variety of
technology-based services and products. These include computer security
products, such as Internet firewalls; software testing and quality assurance,
instructional product development for interactive multimedia, computer-based
instruction, decision-support systems, computer-based textbooks, and products
for individuals with special learning needs; and advanced Web services,
including a number of proprietary Web applications, database development and
management, and dynamic information retrieval.

          Management Consulting. The Company offers a full spectrum of services
to address opportunities and problem areas, and to ensure that client
organizations can meet future challenges effectively. The Company's methods and
expertise produce strategies, plans and interventions that fit the values,
cultures and needs of the client organization and its managers. The Company's
focus is on sound analysis, with effective support in implementing recommended
strategies and solutions and ensuring capacity within the client organization so
that continuing outside assistance is not required.

          Market Assessment. The Company works with clients worldwide to analyze
and forecast market demand for new products and services. The Company combines
sophisticated analytic techniques with global reach to provide clients with
insight regarding optimal

                                      -3-

<PAGE>

product/services configuration and pricing, as well as market size information.
This work supports clients' business planning and capital generation for new
ventures.

          Public Sector Research. The Company provides research and evaluation
services to local and national governments and to international organizations.
Among the services provided are communication studies; cost, cost benefit & cost
effectiveness analysis; customer satisfaction & loyalty studies; ethnography;
experimental & quasi-experimental research; needs assessments; outcome & impact
studies; performance measurement; policy research; process & implementation
studies; secondary data analysis & data mining; and survey research.

          Training & Educational Technologies. The Company offers a full
spectrum of training services to help organizations adapt to and capitalize on
changing circumstances. All courses and training services are supported by the
Company's research and management consulting services in the subject areas
offered. The Company uses adult learning methodologies, instructional system
design, electronic performance support systems and highly skilled facilitators
who provide interactive, experiential-based training. The Company is also a
leader in applying technology to educational and learning needs and in
developing and producing distance learning programs, multimedia materials and
expert systems.

Industries

          Automotive. Utilizing research methodologies developed for its
automotive industry clients, the Company has extensive experience working with a
wide range of companies around the world, including vehicle manufacturers,
original-equipment-manufacturers suppliers, dealers, distributors, trucking
companies and heavy equipment manufacturers.

          The Company provides sophisticated segmentation research and long-term
studies on retail sales and service; brand image and equity; product
development, design and performance; and dealer/manufacturer relations. The
Company's exclusive consumer market analysis evaluates and tracks customer needs
as they relate to new vehicle purchases, financing and leasing, buying behavior,
and brand loyalty.

          Financial Services. The Company provides market and customer
intelligence to banks, securities brokerage firms, insurance companies and other
financial institutions across a number of business issues: customer loyalty and
retention, image management, market segmentation and positioning, new product
development, pricing strategy, corporate branding, and customer database
management.

          By focusing its research efforts on key customer segments - such as
high net worth individuals, corporate treasurers, active investors,
policyholders, etc. - the Company can determine the specific factors that
influence the target groups' decisions, and design strategies to attract, retain
and motivate them effectively.

          Health Care. The Company's services include surveys and evaluations to
determine patient satisfaction, market segmentation, customer acquisition,
competitive analysis,

                                      -4-

<PAGE>

community needs assessment, and corporate positioning. For pharmaceutical
companies, HMOs, hospitals, and health care providers, the Company also conducts
loyalty and retention modeling research as part of its clients' patient and
employee satisfaction programs.

          Through its innovative methodologies, such as proprietary panels, the
Company establishes ongoing dialogues with difficult-to-reach decision-makers
such as physicians, plan and hospital administrators and benefits managers.

          Retail and Trade. To shape marketing strategy, the Company's areas of
specialization include understanding the determinants of store choice; customer
loyalty and satisfaction; mystery shopping; segmentation and positioning; store
location, layout, design and product positioning; merchandise performance;
development and appraisal of individual outlets and sites; and diversification
into new markets, both domestic and international.

          The Company also works in partnership with manufacturers and suppliers
of consumer goods to understand the needs, behavior and attitudes of customers
at all stages in the distribution channel. The Company's aim is to enhance the
manufacturer/trade/consumer relationship.

          Telecommunications and Information Technology. The Company provides
market knowledge for a range of telecommunications and information technology
companies, from wireless communications companies and telephone carriers to
Internet service providers and computer hardware and software firms. Its
services include market definition, segmentation, new product development,
customer retention, corporate branding, usage analysis, and competitive
profiling.

          Among its services, the Company helps clients determine pricing and
distribution systems, track service performance, gauge the success of products
and services, design and configure new products, predict customer needs and
define competitive positions in new markets.

Products

          The following products are used by the Company to deliver some of the
services listed above and are also marketed as stand-alone products:

          Shared-Cost Programs. For over 30 years, the Company has conducted
shared-cost telephone survey programs, marketed under the name "CARAVAN," in
which questions from a number of clients are combined in a series of interview
questionnaires. The CARAVAN programs provide multiple clients with high-quality,
timely information at a relatively low cost.

                                      -5-

<PAGE>

          The general public CARAVAN is a twice-weekly shared-cost national
survey combining questions of clients such as advertising agencies, public
affairs departments of large corporations and product managers. Typically, the
information collected from the CARAVAN survey provides measurement and
evaluation of advertising and products.

          Customer Loyalty Plus (CL+) is the Company's system for measuring and
building customer loyalty. The three-phase approach includes Assessment, which
is designed to provide clients with a customized CL+ score that can be used over
time to evaluate change; Planning, which consists of an action plan aimed at
closing the identified gaps; and Improvement, during which the Company's
professionals design and implement a specialized program tailored to the
client's specific needs. The plan includes training, organization development
and total quality management programs.

Marketing

          Marketing and Sales-Support Program. In 2002, the Company continued to
support strong business development initiatives worldwide, as well as build upon
already comprehensive internal and external communications programs. The
Company's business development efforts continued with the production of
newsletters, position papers, direct marketing, seminars, advertising, media
placements, web development, telemarketing and speaking platforms. These efforts
have assisted in allowing the Company to access a large number of prospective
clients worldwide and share its products, services, and capabilities.

Clients and Client Relationships

          Some of the Company's largest clients in terms of revenues generated
include America Online, Department of Health and Human Services, Department for
Work and Pensions (U.K.), General Motors, IBM, National Institutes of Health,
National Science Foundation, Sears Roebuck & Co., USAID, and U.S. Department of
Education. In 2002, the Company served over 2,000 clients. For many clients, the
Company performed multiple projects, sometimes for different subsidiaries or
business units of the same client. In general, the Company's engagements are
terminable by the Company's clients at any time, with the expectation of cost
recovery for work completed by the Company.

          The Company's largest single client, USAID, accounted for 11%, 11%,
and 13% of the Company's revenues in 2002, 2001, and 2000, respectively. All
revenues generated by the USAID relationship were for social research studies.

Competition

          Many other firms provide some of the services and products provided by
the Company, typically focusing on consumer markets. However, the Company
believes that no single competitor offers a comparable combination of services
and products.

                                      -6-

<PAGE>

          For business to business market research, the Company believes that it
competes for clients based on a variety of factors, including name recognition,
reputation, expertise in a variety of industries, ability to access executives
and other key constituencies, ability to collect accurate and representative
data, ability to enhance the value of the data collected through analysis and
consulting, technological competence, reliability, promptness and efficiency. In
the Company's experience, its typical clients are interested in the quality and
utility of the service received as well as price.

          For consumer market research services, the Company regularly
experiences significant competition from a large number of competitors,
including marketing and research departments of various companies, advertising
agencies and business consulting firms. Price, reputation, and quality of
service are the dominant considerations.

          For social research services, the Company competes with a large number
of firms that vary in size as well as with not-for-profit organizations. The
competition varies depending upon the agency for whom the work is being
conducted and the services to be provided. Technical competence is the key
differentiator.

          For outbound telemarketing services, the Company competes with a large
number of telemarketing companies. Quality and reliability of service are the
key differentiators.

Segment Information

          Information regarding financial data by operating and geographic
segments is set forth in the Notes to Consolidated Financial Statements at Note
15, "Segments."

Backlog

          As of December 31, 2002, backlog in the market research business of
the Company was $13,825 as compared to $17,529 as of December 31, 2001. All of
the 2002 backlog in the market research business is expected to be recognized as
revenues by December 31, 2003. Social research backlog at December 31, 2002 was
$215,632, as compared to $199,204 at December 31, 2001. Revenue from this
backlog is expected to be recognized over the next five years. The Company's
engagements generally are terminable by the Company's clients at any time, with
the expectation of cost recovery for work completed by the Company.

Employees

          As of December 31, 2002, the Company employed a total of approximately
1,500 full-time employees and 1,400 part-time hourly employees. The part-time
employees work as telephone interviewers and data processors. Of the full-time
employees, 960 are professionals engaged in direct client service, 370 are
telemarketing representatives, and 170 are engaged in support, administration
and executive oversight.

                                      -7-

<PAGE>

          None of the Company's employees are subject to a collective bargaining
agreement, nor has the Company experienced any work stoppages. The Company
believes that its relationship with its employees is satisfactory.

Available Information

          The Company files reports and other information with the Securities
and Exchange Commission ("SEC") pursuant to the information requirements of the
Securities Exchange Act of 1934. Readers may read and copy any document the
Company files at the SEC's public reference room in Washington, D.C. Please call
the SEC at 1-800-SEC-0330 for further information on the public reference room.
The Company's filings are also available to the public from commercial document
retrieval services and at the SEC's web site at http://www.sec.gov.

          The Company maintains a website, free of charge, at
www.opinionresearch.com, which contains information about the Company, including
links to the Company's annual report on Form 10-K, quarterly report on Form
10-Q, current reports on Form 8-K, and related amendments, which are available
as soon as reasonably practicable after such reports are filed or furnished
electronically with the SEC. The Company's website and the information contained
in it shall not be deemed incorporated by reference to this Form 10-K.

                                      -8-

<PAGE>

Item 2.   Properties

          The Company's executive offices are located in approximately 45,000
square feet of leased space in Skillman (Greater Princeton), New Jersey. The
term of the lease expires in August 2003. The Company leases additional
facilities throughout the world. The following table sets forth certain
information relating to these properties:

<TABLE>
<CAPTION>
      Operating Unit                        Location                              Facility Usage
------------------------------  ------------------------------  ----------------------------------------------------
<S>                             <C>                             <C>
U.S. Market Research            Skillman, New Jersey            Worldwide Headquarters, Research Location
                                Maumee, Ohio                    Research Location
                                Arlington Heights, Illinois     Research Location and Telephone Interviewing
                                                                Facility
                                Tucson, Arizona                 Telephone Interviewing Facility
                                Tampa, Florida                  Telephone Interviewing Facility
                                Reno, Nevada                    Telephone Interviewing Facility

U.K. Market Research            London, U.K.                    U.K. Market Research Headquarters, Research
                                                                Location, and Telephone Interviewing Facility
                                Manchester, U.K.                Research Location

Asia Market Research            Hong Kong                       Asia Market Research Headquarters, Research
                                                                Location and Telephone Interviewing Facility
                                Seoul, Korea                    Country Headquarters, Research Location, and
                                                                Telephone Interviewing Facility
                                Taipei, Taiwan                  Country Headquarters, Research Location, and
                                                                Telephone Interviewing Facility

Mexico Market Research          Mexico City, Mexico             Country Headquarters, Research Location

Teleservices                    Lansing, Illinois               ORC ProTel Headquarters, Telemarketing
                                                                Facility
                                Topeka, Kansas                  Telemarketing Facility
                                St. John, Missouri              Telemarketing Facility (currently idle)
                                Dayton, Ohio                    Telemarketing Facility

Social Research                 Calverton, Maryland             Macro Headquarters, Research Location
                                Burlington, Vermont             Telephone Interviewing Facility and Research
                                                                Location
                                St. Albans, Vermont             Telephone Interviewing Facility
                                New York, New York              Research Location
                                Bethesda, Maryland              Research Location
                                Plattsburgh, New York           Telephone Interviewing Facility
                                Atlanta, Georgia                Research Location
                                Rockville, Maryland             Research Location and Multi-media Production
                                                                Facility
                                Columbia, Maryland              Warehouse
</TABLE>

                                      -9-

<PAGE>

          The Company presently has a combined total of 735 computer assisted
telephone interviewing stations worldwide dedicated to market research and an
additional 345 telemarketing stations. All of these facilities are equipped with
state-of-the-art hardware and software. In a typical telephone interview or
sale, the CATI system prompts the interviewer's sequence of questions or
responses depending on the previous answers. All responses are recorded directly
into the computer, avoiding the need for subsequent data entry and enabling
prompt analysis of responses. The interviewees communicate with live
interviewers at all times.

          The Company believes that its properties are sufficient for its
current operational needs. The Company is currently reviewing its options for
the expiring lease in Skillman, New Jersey.

                                      -10-

<PAGE>

Item 3.   Legal Proceedings

          The Company is not a party to any material litigation.

Item 4.   Submission of Matters to a Vote of Security Holders

          No matters were submitted to a vote of security holders during the
fourth quarter of the year ended December 31, 2002.

Item 4A.  Executive Officers of the Registrant

          The following table sets forth certain information concerning the
principal executive officers of the Company as of February 26, 2003.

Name                   Age      Position
----                   ---      --------

John F. Short           58      Chairman, President, and
                                Chief Executive Officer

Douglas L. Cox          57      Executive Vice President and
                                Chief Financial Officer

Kevin P. Croke          44      Executive Vice President and
                                Director of Finance

Michael T. Errecart     53      President, Macro International Inc.

James C. Fink           59      Vice Chairman; Chief Executive Officer
                                of Worldwide Market Research

Nigel P. Maxfield       45      Senior Vice President and
                                Managing Director,
                                O.R.C. International Ltd.

Frank J. Quirk          62      Chairman and Chief Executive Officer,
                                Macro International Inc.

Ruth R. Wolf            65      Chief Executive Officer,
                                ORC ProTel, Inc.

                                      -11-

<PAGE>

     Mr. Short joined the Company as its Chief Financial Officer in 1989 and was
appointed Vice Chairman in 1992. In 1998, Mr. Short was appointed President of
the Company. In February 1999, Mr. Short assumed the roles of Chief Executive
Officer and Chairman of the Board.

     Mr. Cox joined the Company as Executive Vice President and Chief Financial
Officer in October 1998. Prior to joining the Company, Mr. Cox spent ten years
as Senior Vice President and Chief Financial Officer of Elf Atochem North
America, Inc. Mr. Cox holds an MBA, with honors, from the Wharton School of the
University of Pennsylvania.

     Mr. Croke joined the Company in 1991 as Controller. Throughout the years
Mr. Croke has served in various capacities in the Company's financial arena. In
1995, Mr. Croke was appointed Director of Finance. Mr. Croke holds an MBA from
Case Western Reserve University.

     Dr. Errecart joined the Company in 1999 with the acquisition of Macro,
where he had served as its President since 1998 and Executive Vice President
from 1994 to 1998. Dr. Errecart was appointed President of Macro in 1999. Dr.
Errecart holds a Ph.D. in Mathematical Sciences from the Johns Hopkins
University.

     Dr. Fink joined the Company in 1982. Since 1990, Dr. Fink had held various
managerial positions within the Company and was a member of the Board of
Directors of the Company and Managing Director of the Company's corporate brand
equity practice when he resigned in February 1999. Between 1999 and 2001, Dr.
Fink was President of the worldwide brand research division of Enterprise IG. In
July 2001, Dr. Fink rejoined the Company as Vice Chairman and Chief Executive
Officer of Worldwide Market Research. Dr. Fink holds a Ph.D. in Economics from
the Pennsylvania State University.

     Dr. Maxfield joined the Company in 1996 with the acquisition of a U.K.
division. In 1997, Dr. Maxfield was appointed Managing Director of O.R.C.
International Ltd. Dr. Maxfield holds a Ph.D. in Applied Mathematics and
Computing Science from the University of Sheffield.

     Mr. Quirk joined the Company in 1999 with the acquisition of Macro, where
he served, and continues to serve, as the Chief Executive Officer since 1980. In
2000, Mr. Quirk was elected as a member of the Board of Directors of the
Company. Mr. Quirk holds an MBA degree from Cornell University.

     Ms. Wolf joined the Company in 1998 with the acquisition of ProTel, which
she co-founded in 1988. Ms. Wolf was appointed Chief Executive Officer of ORC
ProTel in 1998. Ms. Wolf has over 30 years of experience in telemarketing.

                                      -12-

<PAGE>

                                     PART II

Item 5.   Market for Registrant's Common Equity and Related Stockholder Matters

Market Information

          The Company's Common Stock is currently quoted on the Nasdaq National
Market under the symbol "ORCI". Prior to August 2001, the Company's Common Stock
was traded on the American Stock Exchange under the symbol "OPI". The table
below sets forth the high and low prices for the Company's Common Stock (the
"Common Stock") for each of the four quarters of 2002 and 2001:

                                                  High            Low
                                               ----------      ----------
              2002
              ----
              Fourth Quarter                      $6.150          $4.660
              Third Quarter                        6.000           4.700
              Second Quarter                       6.550           5.470
              First Quarter                        6.800           5.000

              2001
              ----
              Fourth Quarter                      $6.640          $2.890
              Third Quarter                        6.910           5.250
              Second Quarter                       7.600           6.100
              First Quarter                        7.700           4.875

          The closing price of the Common Stock on February 26, 2003 was $5.04
per share. As of February 26, 2003, the Company had 86 holders of record of the
Common Stock (approximately 694 beneficial stockholders).

Dividends

          The Company has not paid any dividends on the Common Stock. The
Company currently intends to retain its earnings to finance future growth and
therefore does not anticipate paying dividends on the Common Stock in the
foreseeable future.

                                      -13-

<PAGE>

Item 6.   Selected Financial Data

          The following selected financial data should be read in conjunction
with the Company's audited financial statements and notes which are listed
herein under Item 15 and are included on pages F-1 through F-29.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                 (In Thousands, Except Per Share Data)
                                                                                    For the Year Ended December 31,
                                                              --------------------------------------------------------------------
                                                                 2002           2001          2000          1999           1998
                                                              ----------     ----------    ----------    ----------     ----------
<S>                                                          <C>            <C>           <C>           <C>            <C>
Operating Data:
Revenues                                                     $   175,260    $   176,909   $   160,909   $   118,621    $    73,167

Operating income (1)                                         $     4,285    $     8,825   $    11,652   $     8,463    $     2,340

Income (loss) before provision for income taxes,
 cumulative effect of accounting change and
 extraordinary loss                                          $      (499)   $     3,412   $     5,971   $     4,458    $       469

Income (loss) before cumulative effect of accounting
 change and extraordinary loss                               $    (2,621)   $     1,616   $     3,304   $     2,514    $       (20)
Cumulative effect of accounting change,
 net of tax benefit of $0 (2)                                       (292)             -             -             -              -
Extraordinary loss on debt
 refinancings, net of tax of $60 and $133 (3)                          -              -             -           (90)          (150)
                                                              ----------     ----------    ----------    ----------     ----------
Net income (loss)                                            $    (2,913)   $     1,616   $     3,304   $     2,424    $      (170)
                                                              ==========     ==========    ==========    ==========     ==========

Weighted average common shares
 outstanding                                                       5,949          5,762         4,692         4,244          4,202
Income (loss) before cumulative effect of accounting
 change and extraordinary loss per common share              $     (0.44)   $      0.28   $      0.70   $      0.59    $      0.00
Cumulative effect of accounting change per share                   (0.05)             -             -             -              -
Extraordinary loss per common share                                    -              -             -         (0.02)         (0.04)
                                                              ----------     ----------    ----------    ----------     ----------
Net income (loss) per common share                           $     (0.49)   $      0.28   $      0.70   $      0.57    $     (0.04)
                                                              ==========     ==========    ==========    ==========     ==========

Adjusted weighted average common shares
 and assumed conversions                                           5,949          5,992         5,053         4,332          4,202
Income (loss) before cumulative effect of accounting
 change and extraordinary loss per diluted share             $     (0.44)   $      0.27   $      0.65   $      0.58    $     (0.00)
Cumulative effect of accounting change per share                   (0.05)             -             -             -              -
Extraordinary loss per diluted share                                   -              -             -         (0.02)         (0.04)
                                                              ----------     ----------    ----------    ----------     ----------
Net income (loss) per diluted share                          $     (0.49)   $      0.27   $      0.65   $      0.56    $     (0.04)
                                                              ==========     ==========    ==========    ==========     ==========

Balance Sheet Data:
Total assets                                                 $   102,436    $   112,916   $   115,957   $    91,966    $    50,610
Total debt (4)                                               $    46,892    $    55,462   $    51,842   $    47,438    $    18,320
Redeemable equity                                            $     8,900    $     8,900   $     8,900   $         -    $         -

----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

(1)  In the fourth quarter of 2002, the Company recorded a non-cash impairment
     charge of $5,938 to reduce the carrying value of goodwill in the U.S.
     market research reporting unit.

(2)  On January 1, 2002, the Company recorded a goodwill impairment loss in its
     Mexican subsidiary of $292 as a cumulative effect of a change in accounting
     principle upon adoption of Statement of Financial Accounting Standards No.
     142, Goodwill and Other Intangible Assets.

(3)  In the second quarter of 1999 and 1998, the Company recorded extraordinary
     losses of $90 and $150, net of tax benefits of $60 and $133, respectively,
     due to the write-off of unamortized loan origination fees associated with
     debt refinancings.

(4)  Amounts presented include capital lease obligations.

                                      -14-

<PAGE>

Item 7. Management's Discussion and Analysis of Financial Condition and Results
of Operations

Overview

          The Company was established in 1938 to apply the principles of general
public opinion polling to marketing issues facing America's largest companies.
The Company has evolved to provide social research, market research, information
services, marketing services, and telemarketing. The Company performs public
sector primary research and provides information technology, communications, and
other consulting services, primarily to agencies of the United States federal
government and state and local governments. The Company also assists its
commercial clients in the evaluation, monitoring and optimization of their
marketing and sales efforts, addressing issues such as customer loyalty and
retention, market demand and forecasting, and corporate image and competitive
positioning. The majority of the Company's governmental projects are in the
areas of health, education, and international aid. The Company's telemarketing
services consist principally of outbound customer acquisition services.

Results of Operations - 2002 compared to 2001

Revenues

          Consolidated revenues for 2002 decreased $1,649, or 1%, to $175,260
from $176,909 in 2001. Revenues increased $10,162, or 11%, in the Company's
social research business. Revenues decreased $2,870, or 16%, in the teleservices
business. Revenues declined $8,263, or 20%, in U.S. market research, and
increased $619, or 3%, in U.K. market research. In all cases, the increase or
decrease in revenues in the various operating segments is primarily due to
higher or lower demand for services, with approximately $4,300 of the decline in
U.S. market research revenues arising from the non-renewal of two client
contracts and $3,700 from the reduced scope of three client contracts.

          The Company expects that social research revenues will continue to
expand as evidenced by increased backlog. Any improvements in U.S. market
research and teleservices revenues over 2002 are dependent upon a better
economic and business climate.

Cost of Revenues

          Consolidated cost of revenues decreased $820, or 1%, to $120,705 in
2002 from $121,525 in 2001. Gross profit as a percentage of revenues was stable
at 31% in both 2002 and 2001. For the social research business, cost of revenues
increased 11% from $69,816 in 2001 to $77,394 in 2002 and the gross profit
percentage was stable at 27% in both 2002 and 2001. Consistent with the decline
in revenues, cost of revenues decreased 20% from $27,832 in 2001 to $22,231 in
2002 in U.S. market research and the gross profit percentage was stable at 33%
in both 2002 and 2001. For U.K. market research, cost of revenues increased 6%
from $11,644 in 2001 to $12,316 in 2002 and the gross profit percentage declined
from 37% in 2001 to 35% in 2002, primarily as the result of higher
subcontracting costs. In the teleservices business, cost of revenues decreased
17% from $9,379 in 2001 to $7,761 in 2002, reflecting the lower volume of client
services. The gross profit percentage improved slightly from 49% in 2001 to 50%
in 2002.

                                      -15-

<PAGE>

          The Company does not expect a significant improvement in the gross
profit percentage unless the economic and business climate results in improved
U.S. market research and teleservices revenues.

Selling, General and Administrative Expenses

          Selling, general and administrative expenses ("SG&A") increased
$1,608, or 4%, to $39,736 in 2002 from $38,128 in 2001. The increase is mainly
attributable to higher compensation and occupancy expenses. As a percent of
revenues, SG&A increased to 23% from 22%.

Depreciation and Amortization Expense

          Depreciation and amortization expense decreased by $3,835 to $4,596,
or 5%, in 2002 from $8,431 in 2001. The adoption of Financial Accounting
Standards No. 142, Goodwill and Other Intangible Assets ("Statement 142") at the
beginning of 2002 which eliminated the amortization of goodwill, accounted for
$3,738 of this decrease.

Goodwill Impairment Charge

          In October 2002, as part of its annual impairment test based on
Statement 142, the Company engaged an independent valuation firm to determine if
there had been an impairment of the goodwill associated with the Company's U.S.
market research business. The analysis performed by the independent valuation
firm indicated that the recorded book value of the U.S. market research
reporting unit exceeded its fair value, as determined by a weighting of
comparable company analyses and discounted cash flow models. Upon completion of
such assessment, the Company recorded a non-cash impairment charge of $5,938 to
reduce the carrying value of goodwill in the U.S. market research reporting
unit. See Note 3 to Consolidated Financial Statements "Goodwill and other
intangibles" for additional information.

Interest and Other Non-Operating Expenses

          Interest and other non-operating expenses decreased $629, or 12%, to
$4,784 in 2002 from $5,413 in 2001. The decrease is due to a decrease in
interest expense of $797, resulting from lower interest rates and reduced
borrowings, partially offset by an increase of $168 in other non-operating
expenses resulting from unfavorable foreign currency fluctuations.

Provision for Income Taxes

          The provision for income taxes for 2002 and 2001 was $2,122 and
$1,796, respectively. The provisions for these years are higher than the amounts
that result from applying the federal statutory rate to income before income
taxes, reflecting the absence of any tax benefits associated with the goodwill
impairment charge in 2002, the non-deductibility of goodwill amortization in
2001, and for both years, the impact of state taxes.

Cumulative Effect of Accounting Change

          With the adoption of Statement 142 on January 1, 2002, the Company
recorded as a cumulative effect of a change in accounting principle, goodwill
impairment related to the Company's Mexican subsidiary of $292, or $(0.05) per
share.

                                      -16-

<PAGE>

Net Income (Loss)

          Net income (loss) for 2002 and 2001 was $(2,913) and $1,616,
respectively.

Results of Operations - 2001 compared to 2000

Revenues

          Revenues for 2001 increased $16,000, or 10%, to $176,909 in 2001 from
$160,909 in 2000. The acquisitions of C/J and SHS (the "Acquisitions") accounted
for $21,408, of this increase. Excluding the impact of the acquisitions,
revenues declined $4,130, or 3%, in the research business, of which $1,176 was
due to the appreciation of the U.S. dollar, and $1,278, or 6%, in the
teleservices businesses, with both segments experiencing lower demand for
services.

Cost of Revenues

          Cost of revenues increased $15,550, or 15%, to $121,525 in 2001 from
$105,975 in 2000. The Acquisitions accounted for $16,855 of this increase.
Excluding the impact of the Acquisitions, cost of revenues in the research
business declined $461. Before the impact of the appreciation of the U.S. dollar
against other currencies, which reduced cost of revenues by $817, cost of
revenues in the research business increased $356 reflecting inefficiencies at
the lower level of service provided. In the teleservices business, cost of
revenues decreased $844, or 8%, reflecting the lower level of services provided.

          Gross profit as a percentage of revenues for the Company decreased to
31% in 2001 from 34% in 2000 due to the impact of the Acquisitions, for which
the gross profit percentage for 2001 was 23%. Excluding the impact of the
Acquisitions, the gross profit percentage for the research business decreased to
31% in 2001 from 32% in 2000 and the gross profit percentage for the
teleservices business increased to 49% in 2001 from 48% in 2000.

Selling, General and Administrative Expenses

          Selling, general and administrative expenses ("SG&A") increased
$2,124, or 6%, to $38,128 in 2001 from $36,004 in 2000. The Acquisitions
resulted in an increase in SG&A of $2,635. As a percent of revenues,
consolidated SG&A decreased to 21.6% in 2001 from 22.4% in 2000.

Depreciation and Amortization Expense

          Depreciation and amortization expense increased by $1,153, or 16%, to
$8,431 in 2001 from $7,278 in 2000. The Acquisitions accounted for $679 of the
increase. Earnout payments made in connection with prior acquisitions resulted
in a $473 increase in goodwill amortization. Depreciation and amortization on a
consolidated basis increased to 4.8% of revenues in 2001 from 4.5% in 2000.

                                      -17-

<PAGE>

Interest and Other Non-Operating Expenses

          Interest and other non-operating expenses decreased $268, or 5%, to
$5,413 in 2001 from $5,681 in 2000. The decrease is due to a decrease in
interest expense of $114, resulting from lower interest rates offset in part by
additional borrowings to fund one of the Acquisitions and acquisition related
payments, and a decrease of $154 in other non-operating expenses.

Provision for Income Taxes

          The provision for income taxes for 2001 and 2000 was $1,796 and
$2,667, respectively. The provisions for these years are higher than the amount
that results from applying the federal statutory rate to income primarily
because of amortization of non-deductible goodwill generated from acquisitions
throughout the years and the impact of state taxes.

Net Income

          Net income for 2001 and 2000 was $1,616 and $3,304, respectively.

Liquidity and Capital Resources

          As of December 31, 2002, working capital was $14,733. Net cash
generated by operations for 2002 was $10,495 as compared to $9,350 in 2001. For
2002, the net cash provided by operating activities was primarily generated by a
net loss, after adjusting for depreciation and amortization, goodwill impairment
charge and other non-cash items, totaling $8,493, a net decrease in receivables
of $3,125, and an increase of $2,551 in payables and accrued expenses, offset by
an increase in other assets of $319 and decreases in deferred revenues of $2,397
and other liabilities of $958. For 2001, the net cash provided by operating
activities was primarily generated by net income, after adjusting for
depreciation and amortization and other non-cash items, totaling $9,888, and a
decrease in receivables of $3,260, offset by decreases in payables and accrued
expenses of $2,061.

          Investing activities for 2002 included capital expenditures of $2,334
and acquisition related payments of $46. Investing activities for 2001 included
capital expenditures of $3,934, earn-out payments of $8,726 to previous ProTel
and Macro shareholders, and payments of $2,125 to previous shareholders of C/J
and SHS based on their respective purchase agreements.

          In 2002, financing activities included a net reduction in borrowings
totaling $8,674 and proceeds from the sale of the Company's common stock under
the Company's stock purchase plans and the exercises of stock options totaling
$723. This compares to net borrowings of $3,539 and proceeds of $1,035 from the
sale of common stock and the exercises of stock options in 2001.

          On October 4, 2001, the Company amended its senior credit facility
increasing the amount available under the revolving credit to up to $24,000 and
shortening the maturity for both the revolving credit and the term notes to June
1, 2004 from May 31, 2005 (the "October 2001 Amendment"). Additionally, the
October 2001 Amendment provided for an increase in the interest

                                      -18-

<PAGE>

rate to LIBOR plus 325 basis points or the financial institution's designated
base rate plus 200 basis points.

          On September 29, 2002, the Company further amended its credit
facilities which, among other things, reduced the amount available under the
revolving credit from $24,000 to $19,000 and amended certain near-term financial
covenants to less restrictive amounts. As of December 31, 2002, the Company had
approximately $5,985 of additional credit available under the amended
facilities.

          In February 2003, the Company completed another amendment to its
senior credit facility (the "February 2003 Amendment") which further reduced the
amount available under the revolving credit from $19,000 to $16,500 and amended
certain future covenants to be less restrictive. Additionally, the February 2003
Amendment provides for an increase in the interest rate by 50 basis points to
LIBOR plus 375 basis points or the financial institution's designated base rate
plus 250 basis points. Upon signing the February 2003 Amendment, the Company had
approximately $4,100 of additional credit available under the newly amended
facilities.

          In conjunction with the February 2003 Amendment, the Company also
amended its subordinated debenture to increase the coupon rate from 12% to 12.5%
and amended certain future covenants to be less restrictive.

          The Company's senior credit facility will mature on June 1, 2004 and
as is customary, may be accelerated if the Company is unable to meet various
financial covenants. The Company expects to renegotiate its credit facilities
during 2003, extending their maturities, and expects to meet the financial
covenant requirements.

          The Company entered into a joint venture agreement during 2001 for the
purpose of developing new research-based products. In 2002, the Company
contributed $1,085 in services and cash and, since inception, has contributed an
aggregate of $1,155. All amounts funded to date have been expensed except for an
investment of $79 in the joint venture which is included in other current assets
in the Company's consolidated balance sheet.

          There are no material capital expenditure commitments and no
acquisition related commitments. The Company has no off-balance sheet financing
arrangements. The Company believes that its current sources of liquidity and
capital will be sufficient to fund its long-term obligations and working capital
needs for the foreseeable future.

                                      -19-

<PAGE>

          The following table represents the Company's contractual obligations
as of December 31, 2002:

                              Payment Due by Period

<TABLE>
<CAPTION>
                                                  Less than                                     After
Contractual Obligations               Total         1 year      2 -3 years     4-5 years       5 years
--------------------------------   -----------  -------------  ------------  -------------  -------------
<S>                               <C>          <C>            <C>           <C>            <C>
Accounts payable and
 accrued expenses                 $    16,991  $      16,991  $          -  $           -  $           -
Short-term borrowings                   6,000          6,000             -              -              -
Long-term debt                         41,515              -        30,265         11,250              -
Capital leases                             27             27             -              -              -
Operating leases                       31,805          8,707        13,387          6,982          2,729
                                   -----------  -------------  ------------  -------------  -------------
 Total contractual obligations    $    96,338  $      31,725  $     43,652  $      18,232  $       2,729
                                   ===========  =============  ============  =============  =============
</TABLE>

Critical Accounting Policies

          The Company's discussion and analysis of its financial condition and
results of operations are based upon the Company's consolidated financial
statements, which have been prepared in accordance with accounting principles
generally accepted in the United States. The preparation of these financial
statements requires the Company to make estimates and judgments that affect the
reported amounts of assets, liabilities, revenues and expenses. The Company
bases its estimates on historical experience and on assumptions that are
believed to be reasonable under the circumstances.

          The Company believes that the implementation of the following critical
accounting policies, used in the preparation of its consolidated financial
statements, introduce the most significant levels of judgments and estimates.

Revenue Recognition

          The Company recognizes revenues on the percentage of completion method
for its social research and market research segments, which relies on a periodic
determination of the ratio of costs incurred to total estimated contract costs.
The Company follows this method since reasonably dependable estimates of the
revenue and costs applicable to various stages of a project can be made.
Recognized revenue and profit are subject to revisions as the project progresses
to completion. Revisions in profit estimates are reflected in income in the
period in which the facts that give rise to the revision become known. These
revisions could be material to the Company's results of operations. For the
Company's teleservices business, revenues are recognized at the time services
are performed.

                                      -20-

<PAGE>

Goodwill and Other Intangible Assets

          The Company has significant intangible assets related to goodwill and
other identifiable intangible assets, such as non-competition agreements. The
determination of the related estimated useful lives involves significant
judgments. Changes in those useful lives could be material to the Company's
results of operations.

          In assessing the recoverability of the Company's goodwill and other
identifiable intangibles, the Company must make assumptions regarding estimated
future cash flows and other factors to determine the fair value of the
respective assets. If these estimates or their related assumptions change in the
future, the Company may be required to record impairment charges for these
assets. On January 1, 2002, the Company adopted Statement No. 142, Goodwill and
Other Intangible Assets, which requires the Company to analyze its goodwill for
impairment in 2002, and then on an annual basis thereafter. At the date of
adoption, the Company reclassified assembled workforce intangible assets with an
unamortized balance of $865 to goodwill and recorded as a cumulative effect of a
change in accounting principle, goodwill impairment related to the Company's
Mexican subsidiary of $292, or $(0.05) per share. During the year the Company
identified other intangible assets with useful life that can no longer be
determined. As a result, the Company reclassified $480 from other intangible
assets to goodwill in the fourth quarter of 2002. In the fourth quarter of 2002,
the Company recorded a non-cash impairment charge of $5,938 to reduce the
carrying value of goodwill in the U.S. market research reporting unit. See Note
3 to Consolidated Financial Statements "Goodwill and other intangibles" for
additional information.

Recent Accounting Pronouncements

          In August 2001, the FASB issued Statement No. 143, Accounting for
Asset Retirement Obligations. That standard requires entities to record the fair
value of a liability for an asset retirement obligation in the period in which
it is incurred. The Company has adopted Statement 143 on January 1, 2003 and the
adoption of Statement 143 will not have any material impact on the Company's
results of operations, financial position or cash flows.

          Effective January 1, 2002, the Company adopted Statement No. 144,
Accounting for the Impairment or Disposal of Long-Lived Assets, which supersedes
Statement No. 121, Accounting for the Impairment of Long-Lived Assets and for
Long-Lived Assets to Be Disposed Of, and provides a single accounting model for
long-lived assets to be disposed of. Although retaining many of the fundamental
recognition and measurement provisions of Statement 121, the new rules
significantly change the criteria that would have to be met to classify an asset
as held-for-sale. The adoption of Statement 144 did not have an impact on the
Company's results of operations, financial position or cash flows.

          In December 2002, the FASB issued Statement No. 148, Accounting for
Stock-Based Compensation -- Transition and Disclosure. Statement 148 amends
Statement 123, Stock-Based Compensation, to provide alternative methods of
transition for a voluntary change to the fair value based method of accounting
for stock-based employee compensation. In addition, this Statement amends the
disclosure requirements of Statement 123 to require prominent disclosures

                                      -21-

<PAGE>

in both annual and interim financial statements about the method of accounting
for stock-based employee compensation and the effect of the method used on
reported results. The disclosure provisions of this Statement are effective for
fiscal years ending after December 15, 2002 and have been incorporated into Note
1 to the consolidated financial statements "Summary of Significant Accounting
Policies".

Inflation and Foreign Currency Exchange

          Inflation has not had a significant impact on the Company's operating
results to date, nor does the Company expect it to have a significant impact
through 2003. The foreign currency exchange fluctuations did not have a material
impact on the Company's operating results in 2002. In 2001 and 2000, the
appreciation of the U.S. dollar versus the British pound had negatively affected
the Company's operating results in both years. As the Company continues to
expand its international operations, exposures to gains and losses from foreign
currency fluctuations will increase. It has not been the Company's practice to
enter into foreign exchange contracts, but such contracts may be used in the
future if the Company deems them to be an appropriate resource to manage the
Company's exposure to movements in foreign currency exchange rates.

Risk Factors

          Readers of this report should be aware that the following important
factors, among others, in some cases have affected, and in the future could
affect, the actual operating results of the Company and could cause the
Company's actual consolidated results for 2003 and beyond to differ materially
from those expressed in any forward-looking statements made by, or on behalf of,
the Company:

          The Company's success depends on its ability to retain its existing
clients and obtain new clients. The Company's clients generally may terminate
the services it provides to them at any time. The loss of one or more of the
Company's large clients or a significant reduction in business from such clients
could have a material adverse effect on the Company. The existence of larger
projects and long-term client relationships may increase the Company's reliance
on particular projects and clients. In 2002, approximately 53% of the Company's
revenue was generated by providing services to various U.S. governmental
departments and agencies.

          The Company's business may suffer if demand for its services declines.
A number of factors that are beyond the Company's control can adversely affect
the demand of the Company's existing clients for its services and impair its
ability to attract new clients. These include marketing budgets, general
economic conditions, consolidations, government spending, and other
industry-specific trends. Changes in management or ownership of an existing
client are factors that can affect the client's demand for the Company's
services. As a result, the Company may provide different amounts of services to
its clients from year to year, and these differences can contribute to
fluctuations in the Company's operating results.

          The Company's attempts to expand its operations into markets where the
Company does not currently operate may not be successful and the Company's
efforts to expand its

                                      -22-

<PAGE>

international operations will be subject to added risks which are inherent in
doing business abroad. Part of the Company's business strategy is to expand
domestically and internationally, and to extend into related businesses through
strategic acquisitions. There can be no assurance that the Company will be able
to so expand or to identify targets for such acquisitions on terms attractive to
the Company. Further, there can be no assurance that the Company's services will
be sufficiently accepted to sustain its efforts to expand in selected
international markets. International expansion will also subject the Company to
risks inherent in doing business abroad, including adverse fluctuations in
currency exchange rates, limitations on asset transfers, changes in foreign
regulations and political turmoil. Furthermore, there can be no assurance that
the Company will be able to integrate successfully the operations of any
subsequently acquired company with its current operations.

          The Company's business may suffer if the Company is unable to retain
its key personnel. The Company is dependent upon the efforts and skills of
certain key senior executives. The loss of the services of one or more of these
individuals could have a material adverse effect on the Company. The Company
does not currently maintain key man life insurance policies on any of the
Company's executives other than John F. Short, the Company's chief executive
officer, and the Company has employment agreements only with certain executive
officers. Competition for senior management is intense, and the Company may not
be successful in retaining key personnel or in attracting and retaining other
personnel that the Company may require in the future.

          The Company faces competition in its industry. The Company faces
competition in connection with most of the individual services and products it
provides. Although the Company believes that no single competitor offers a
comparable combination of services and products, there can be no assurance that
other companies, including some with greater financial resources than the
Company, will not attempt to offer a range of services and products similar to
those offered by the Company, or otherwise compete more effectively in the
market research and information services industry. The Company regularly
experiences significant competition for customers seeking market research
services from a large number of competitors. These include market research
companies, advertising agencies, and business consulting firms. The Company
competes for public sector research services with a large number of firms that
vary in size as well as with not-for-profit organizations. For outbound
telemarketing services, the Company competes with a large number of
telemarketing companies.

          The Company does not currently pay dividends on its common stock and
the Company does not expect to do so for the foreseeable future. The Company
expects to retain its future earnings, if any, for the operation and expansion
of its business, and to pay no cash dividends for the foreseeable future. The
terms of the Company's current financing agreements prohibit the payment of
dividends, and future agreements may also contain terms that limit the amount of
dividends the Company may pay or prohibit any payment of dividends.

          Anti-takeover provisions and the Company's right to issue preferred
stock could make a third-party acquisition of the Company difficult. The
Company's certificate of incorporation provides that the board of directors may
issue preferred stock without stockholder approval. In addition, the Company's
by-laws provide for a classified board, with each board

                                      -23-

<PAGE>

member serving a three-year term. The board of directors has also adopted a
stockholder rights plan, commonly referred to as a "poison pill." The issuance
of preferred stock, the existence of a classified board, and the stockholder
rights plan could make it more difficult for a third party to acquire the
Company without board approval. These provisions could also limit the price that
certain investors might be willing to pay in the future for the Company's common
stock.

          Trading Volume in the Company's Common Stock has historically been
limited. There is a limited market for the Company's common stock. Selling the
Company's shares may be difficult because smaller quantities of shares are
bought and sold and security analysts' and the news media's coverage about the
Company is limited. These factors could result in lower prices and larger
spreads in the bid and ask prices for the Company's shares.

Forward-looking Statements

          Certain statements contained in Management's Discussion and Analysis
of Financial Condition and Results of Operations, and elsewhere in this Annual
Report on Form 10-K, are forward-looking statements. The Company has based these
forward-looking statements on its current expectations about future events.
These forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations, anticipations,
intentions, financial condition, results of operations, future performance and
business, and include the following:

     .  statements relating to the Company's business strategy;
     .  the Company's current and future plans; and
     .  statements that include the words "may," "could," "should," "would,"
        "believe," "expect," "anticipate," "estimate," "intend," "plan" or
        similar expressions.

          These forward-looking statements are subject to risks, uncertainties,
and assumptions about the Company and its operations that are subject to change
based on various important factors, some of which are beyond the Company's
control. The following factors, among others, could cause the Company's
financial performance to differ materially from the goals, plans, objectives,
intentions and expectations expressed in its forward-looking statements:

     .  fluctuations in demand for the Company's services;
     .  competition;
     .  the Company's dependence on key personnel;
     .  government funding of social research projects;
     .  leverage and debt service (including sensitivity to fluctuations in
        interest rates);
     .  domestic and global economic, credit and capital market conditions;
     .  foreign exchange fluctuations;
     .  changes in federal or state tax laws or the administration of these
        laws;
     .  regulatory or judicial proceedings; and
     .  certain other risks described in this Annual Report on Form 10-K,
        including the risks presented under the heading "Risk Factors."

                                      -24-

<PAGE>

          If one or more of the assumptions underlying these forward-looking
statements proves incorrect, the Company's actual results, performance or
achievements in future periods could differ materially from those expressed in,
or implied by, the forward-looking statements contained in this Annual Report on
Form 10-K. Therefore, the Company cautions the readers not to place undue
reliance on its forward-looking statements.

          The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether written or oral, whether as a result of new
information, changed assumptions, the occurrence of unanticipated events,
changes in future operating results over time or otherwise. All forward-looking
statements attributable to the Company are expressly qualified by these
cautionary statements.

<PAGE>

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

          Market risks relating to the Company's operations result primarily
from changes in interest rates and changes in foreign exchange rates. The
Company monitors its interest rate and foreign exchange rate exposures on an
ongoing basis. Historically, the Company has entered into interest rate hedging
contracts and will continue to evaluate their appropriateness. As of December
31, 2002, the Company was not a party to any interest rate hedging contracts.

          It has not been the Company's practice to enter into foreign exchange
contracts, but such contracts may be used in the future if the Company deems
them to be an appropriate resource to manage the Company's exposure to movements
in foreign currency exchange rates. The Company does not consider its current
foreign exchange exposure, which is primarily related to changes between the
U.S. dollar and the U.K. pound, to be material. Although the impact of changes
in foreign exchange rates may be significant on the Company's revenues, cost of
revenues and operating expenses when considered individually, the net impact on
the Company's results of operations has not been significant.

          The following table provides information about the financial
instruments of the Company that are sensitive to changes in interest rates. For
debt obligations, the table presents principal cash flows and related weighted
average interest rates as of February 26, 2003 by expected maturity dates.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                  Interest Rate Sensitivity
                                            Principal Amount by Expected Maturity
                                                    Average Interest Rate

                                                                                        There-             Fair Value
                                         2003      2004      2005     2006     2007     After     Total    12/31/02
----------------------------------------------------------------------------------------------------------------------
<S>                                     <C>      <C>        <C>      <C>      <C>       <C>      <C>       <C>
Liabilities
Long-term debt including current
portion:
    Variable rate debt                  $6,000   $26,515         -        -        -         -   $32,515    $32,515
    Average interest rate -
      LIBOR+3.75%
    Fixed rate debt - 12.5%                                 $3,750   $7,500   $3,750         -   $15,000    $13,346

----------------------------------------------------------------------------------------------------------------------
</TABLE>

Item 8.   Financial Statements and Supplementary Data

          The Company's financial statements, together with the report of the
Company's independent auditors, are set forth beginning at page F-1 at the end
of this Report.

Item 9.   Changes in and Disagreements with Accountants on Accounting and
          Financial Disclosure

          None.

                                      -26-

<PAGE>

                                    PART III

Item 10.  Directors and Executive Officers of the Registrant

          Except as set forth under the caption "Executive Officers of the
Registrant" in Part I of this Annual Report on Form 10-K, this information will
be contained in the Company's definitive Proxy Statement with respect to the
Company's Annual Meeting of Stockholders for 2003 ("2003 Proxy Statement"), to
be filed with SEC within 120 days following the end of the Company's fiscal year
ended December 31, 2002, and is hereby incorporated by reference thereto.

Item 11.  Executive Compensation

          This information will be contained in the Company's 2003 Proxy
Statement, to be filed with SEC within 120 days following the end of the
Company's fiscal year ended December 31, 2002, and is hereby incorporated by
reference thereto.

Item 12.  Security Ownership of Certain Beneficial Owners and Management

          The information required by Item 403 of Regulation S-K will be
contained in the Company's 2003 Proxy Statement, to be filed with SEC within 120
days following the end of the Company's fiscal year ended December 31, 2002, and
is hereby incorporated by reference thereto.

          The following table provides information as of December 31, 2002 with
respect to compensation plans (including individual compensation arrangements)
under which the Company's equity securities are authorized for issuance.

<TABLE>
<CAPTION>

                                         Equity Compensation Plan Information
---------------------------------------------------------------------------------------------------------------------
                                                                                             Number of securities
                                    Number of securities                                   remaining available for
                                      to be issued upon                                     future issuance under
                                         exercise of             Weighted-average         equity compensation plans
                                    outstanding options,         exercise price of          (excluding securities
Plan Category                       warrants and rights         outstanding options      reflected in column (a))(1)
-------------------------------    ----------------------     -----------------------   -----------------------------
                                            (a)                         (b)                           (c)
<S>                                <C>                        <C>                       <C>
Equity compensation plans
approved by security holders
                                                 899,972                       $6.51                        967,217

Equity compensation plans not
approved by security holders
(2)                                              465,000                       $5.93                              -
</TABLE>

(1)  Amount includes shares reserved for issuance under 1997 Stock Incentive
     Plan, Opinion Research Corporation Employee Stock Purchase Plan, Opinion
     Research Corporation Stock Purchase Plan for Non-employee Directors and
     Designated Employees and Consultants, and the ORC Holdings, Ltd. Employee
     Share Ownership Plan. See Note 12 and Note 13 to Consolidated Financial
     Statements for additional information.

(2)  Amount includes 200,000 non-plan options granted to two senior executives
     and 265,000 warrants issued to various investment advisors as a form of
     compensation.

Item 13.  Certain Relationships and Related Transactions

                                      -27-

<PAGE>

          This information will be contained in the Company's 2003 Proxy
Statement, to be filed with SEC within 120 days following the end of the
Company's fiscal year ended December 31, 2002, and is hereby incorporated by
reference thereto.

Item 14.  Controls and Procedures

          The Company's Chief Executive Officer and Chief Financial Officer have
concluded, based on their evaluation within 90 days prior to the filing date of
this report, that the Company's disclosure controls and procedures are effective
to ensure that information required to be disclosed in the reports that the
Company files or submits under the Securities Exchange Act of 1934 is recorded,
processed, summarized and reported, within the time periods specified in SEC's
rules and forms. There have been no significant changes in the Company's
internal controls or in other factors that could significantly affect these
controls subsequent to the date of the foregoing evaluation.

                                      -28-

<PAGE>

                                     PART IV

Item 15.  Exhibits, Financial Statement Schedules, and Reports on Form 8-K

          (a)  The following documents are filed as part of this report.

<TABLE>
<CAPTION>
          1.   Financial Statements                                     Page Reference
               --------------------                                     --------------
          <S>                                                           <C>
               Report of Independent Auditors                                   F-1

               Consolidated Balance Sheets as of December 31,                   F-2
                2002 and 2001

               Consolidated Statements of Operations for                        F-3
                the years ended December 31, 2002, 2001,
                and 2000

               Consolidated Statements of Stockholders' Equity                  F-4
                for the years ended December 31, 2002, 2001, and 2000

               Consolidated Statements of Cash Flows for                        F-5
                the years ended December 31, 2002, 2001, and 2000

               Notes to Consolidated Financial Statements                       F-6

          2.   Financial Statement Schedule

               Schedule II - Valuation and Qualifying Accounts                  S-1
</TABLE>

          All other schedules for which provision is made in the applicable
accounting regulation of the Securities and Exchange Commission are not required
under the related instructions or are inapplicable or the required information
is given in the Financial Statements or Notes thereto, and therefore have been
omitted.

          (b)  Reports on Form 8-K

               None.

                                      -29-

<PAGE>

          (c)  Exhibits

Exhibit No.

     3.1        Amended and Restated Certificate of Incorporation of the
                Registrant - Incorporated by reference to Exhibit 3.1 to the
                Registrant's Registration Statement on Form S-1 (No. 33-68428)
                filed with the Securities and Exchange Commission on September
                3, 1993 (the "Form S-1").

     3.2        Amended and Restated By-Laws of the Registrant - Incorporated by
                reference to Exhibit 3.2 to the Form S-1.

     4.1        Rights Agreement, dated September 13, 1996, between the
                Registrant and StockTrans, Inc. - Incorporated by reference to
                Exhibit 1 to the Registrant's Registration Statement on Form
                8-A, filed with the Securities and Exchange Commission on
                September 27, 1996.

     4.2        Amendment to Rights Agreement dated August 8, 1998 -
                Incorporated by reference to Exhibit 4.1 to the Registrant's
                Annual Report on Form 10-K for the year ended December 31, 1998
                (the "1998 10-K").

     4.3        Amendment No. 2 to Rights Agreement dated September 1, 2001 -
                Incorporated by reference to Exhibit 10.11 to the Registrant's
                Current Report on Form 8-K filed with the Securities and
                Exchange Commission on September 15, 2000 (the "2000 8-K").

     4.4        Opinion Research Corporation Designation of Series B Preferred
                Stock - Incorporated by reference to Exhibit 4.1 to the 2000
                8-K.

     4.5        Opinion Research Corporation Designation of Series C Preferred
                Stock - Incorporated by reference to Exhibit 4.2 to the 2000
                8-K.

   *10.1        Employment Agreement between the Registrant and John F. Short -
                Incorporated by reference to Exhibit 10.12 to Registrant's
                Quarterly Report on Form 10-Q for the quarter ended June 30,
                1999 (the "1999 10-Q").

   *10.2        Employment Agreement between the Registrant and Douglas L. Cox
                dated January 23, 2002 - Incorporated by reference to Exhibit
                10.2 to the Registrant's Annual Report on Form 10-K for the year
                ended December 31, 2001 (the "2001 10-K").

   *10.3        Employment Agreement between the Registrant and Frank J. Quirk
                dated January 25, 2002 - Incorporated by reference to Exhibit
                10.2 to the 2001 10-K.

                                      -30-

<PAGE>

   *10.4        Employment Agreement between the Registrant and James C. Fink
                dated January 28, 2002.

   *10.5        Employment Agreement between the Registrant and Kevin P. Croke
                dated January 23, 2002.

   *10.6        Employment Agreement between ORC International Ltd. and Nigel M.
                Maxfield dated January 25, 2002.

   *10.7        Employment Agreement among Opinion Research Corporation, ORC
                ProTel Inc., and Ruth R. Wolf dated January 1, 1998 -
                Incorporated by reference to Exhibit 10.7 to the Registrant's
                Annual Report on Form 10-K for the year ended December 31, 1999
                (the "1999 10-K").

   *10.8        Employment Agreement between Macro International Inc. and
                Michael T. Errecart dated May 20, 1999 - Incorporated by
                reference to Exhibit 10.2 to the Registrant's Current Report on
                Form 8-K filed with the Securities and Exchange Commission on
                June 9, 1999.

   *10.9        Employment Agreement among Opinion Research Corporation, ORC
                Consumer, Inc. and Terence W. Cotter dated August 31, 2000 -
                Incorporated by reference to Exhibit 10.1 to the 2000 8-K.

   *10.10       Employment Agreement between Macro International Inc. and Lewis
                D. Eigen dated October 31, 2001 - Incorporated by reference to
                Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q
                for the quarter ended September 30, 2000.

   *10.11       1997 Stock Incentive Plan - Incorporated by reference to Exhibit
                10.7 to the Registrant's Annual Report on Form 10-K for the year
                ended December 31, 1997.

   *10.12       Amendment to the 1997 Stock Incentive Plan - Incorporated by
                reference to Exhibit 10.2 to the Registrant's Quarterly Report
                on Form 10-Q for the quarter ended September 30, 2001 (the "2001
                10-Q").

   *10.13       Opinion Research Corporation Employee Stock Purchase Plan -
                Incorporated by reference to Exhibit 4 to the Registrant's
                Registration Statement on Form S-8, filed with the Securities
                and Exchange Commission on September 8, 2000.

   *10.14       Opinion Research Corporation Stock Purchase Plan for
                Non-employee Directors and Designated Employees and Consultants
                - Incorporated by reference to Exhibit 4 to the Registrant's
                Registration Statement on Form S-8, filed with the Securities
                and Exchange Commission on September 25, 2000.

                                      -31-

<PAGE>

   10.15        Lease Agreement dated May 24, 1993 between the Registrant and
                Computer Associates International, Inc. (for Princeton facility)
                - Incorporated by reference to Exhibit 10.16 to the Form S-1.

   10.16        Lease dated August 27, 1993 between Carrollton Enterprises
                Associates Limited Partnership and Macro International, Inc. -
                Incorporated by reference to Exhibit 10.14 to the 1999 10-K.

   10.17        Lease and Lease Addendum dated February 24, 1995 between North
                Bethesda Associates Limited Partnership and Social & Health
                Services, Ltd. - Incorporated by reference to Exhibit 10.15 to
                the Registrant's Annual Report on Form 10-K for the year ended
                December 31, 2000 (the "2000 10-K").

   10.18        First Amendment to Lease dated January 1, 1999 and Second
                Amendment to Lease dated September 15, 1999, between Bethesda
                Properties, L.L.C. and Social & Health Services, Ltd. -
                Incorporated by reference to Exhibit 10.16 to the 2000 10-K.

   10.19        Asset Purchase Agreement dated August 31, 2000 among the
                Registrant, ORC Consumer Inc., C/J Research, Inc. and the
                Stockholders of C/J Research, Inc. - Incorporated by reference
                to Exhibit 2.1 to the 2000 8-K.

   10.20        Stock Purchase Agreement dated October 31, 2000 among Macro
                International Inc., Opinion Research Corporation, and Lewis D.
                Eigen and Ramona E.F. Arnett - Incorporated by reference to
                Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q
                for the quarter ended September 30, 2000.

   10.21        Consent and Ninth Amendment to Credit Agreement dated February
                10, 2003 among Opinion Research Corporation, ORC Inc., and
                Heller Financial, Inc.

   10.22        Eighth Amendment to Credit Agreement dated September 29, 2002
                among Opinion Research Corporation, ORC Inc., and Heller
                Financial, Inc. - Incorporated by reference to Exhibit 10.1 to
                the Registrant's Quarterly Report on Form 10-Q for the quarter
                ended September 30, 2002 ("2002 10-Q")

   10.23        Seventh Amendment to Credit Agreement dated March 19, 2002 among
                Opinion Research Corporation, ORC Inc., and Heller Financial,
                Inc.

   10.24        Sixth Amendment to Credit Agreement and Amendment to Security
                Documents dated November 30, 2001 between Opinion Research
                Corporation and ORC Inc., and Heller Financial, Inc.

                                      -32-

<PAGE>

   10.25        Waiver and Fifth Amendment to Credit Agreement dated October 4,
                2001 among Opinion Research Corporation, ORC Inc., and Heller
                Financial, Inc. - Incorporated by reference to Exhibit 10.1 to
                the 2001 10-Q.

   10.26        Fourth Amendment to Credit Agreement dated October 1, 2001 among
                Opinion Research Corporation, ORC Inc., and Heller Financial,
                Inc.

   10.27        Third Amendment to Credit Agreement dated December 18, 2000
                between Opinion Research Corporation and ORC Inc., and Heller
                Financial, Inc.

   10.28        Credit Agreement dated May 26, 1999 among Opinion Research
                Corporation, ORC Inc., and Heller Financial, Inc. - Incorporated
                by reference to Exhibit 10.1 to the 1999 10-Q.

   10.29        Security Agreement dated May 26, 1999 among Opinion Research
                Corporation, ORC Inc., and Heller Financial, Inc. - Incorporated
                by reference to Exhibit 10.2 to the 1999 10-Q.

   10.30        Fourth Amendment to Investment Agreement dated February 12, 2003
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation.

   10.31        Third Amendment to Investment Agreement dated September 29, 2002
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation. - Incorporated by
                reference to Exhibit 10.5 to the 1999 10-Q.

   10.32        Second Amendment to Investment Agreement dated March 19, 2002
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation.

   10.33        Investment Agreement dated May 26, 1999 among Opinion Research
                Corporation, Allied Investment Corporation, and Allied Capital
                Corporation. - Incorporated by reference to Exhibit 10.5 to the
                1999 10-Q.

   10.34        Allonge to Debenture for $9.5 million dated February 11, 2003
                issued by Opinion Research Corporation to Allied Capital
                Corporation.

   10.35        Allonge to Debenture for $5.5 million dated February 11, 2003
                issued by Opinion Research Corporation to Allied Investment
                Corporation.

                                      -33-

<PAGE>

   10.36        Subordinated Debenture for $9.5 million dated May 26, 1999
                issued by Opinion Research Corporation to Allied Capital
                Corporation - Incorporated by reference to Exhibit 10.7 to the
                1999 10-Q.

   10.37        Subordinated Debenture for $5.5 million dated May 26, 1999
                issued by Opinion Research Corporation to Allied Investment
                Corporation - Incorporated by reference to Exhibit 10.8 to the
                1999 10-Q.

   10.38        Registration Rights Agreement dated May 26, 1999 among Opinion
                Research Corporation, Allied Capital Corporation and Allied
                Investment Corporation - Incorporated by reference to Exhibit
                10.9 to the 1999 10-Q.

   10.39        Amendment No. 1 to Registration Rights Agreement dated September
                1, 2000 among Opinion Research Corporation, Allied Capital
                Corporation and Allied Investment Corporation - Incorporated by
                reference to Exhibit 10.12 to the 2000 8-K.

   10.40        Common Stock Warrant Issued by Opinion Research Corporation to
                Allied Capital Corporation dated May 26, 1999 - Incorporated by
                reference to Exhibit 10.10 to the 1999 10-Q.

   10.41        Common Stock Warrant Issued by Opinion Research Corporation to
                Allied Investment Corporation dated May 26, 1999 - Incorporated
                by reference to Exhibit 10.11 to the 1999 10-Q.

   10.42        Purchase Agreement dated September 1, 2000 among Opinion
                Research Corporation, LLR Equity Partners, L.P. and LLR Equity
                Partners Parallel, L.P. - Incorporated by reference to Exhibit
                10.5 to the 2000 8-K.

   10.43        Registration Rights Agreement dated September 1, 2000 among
                Opinion Research Corporation, LLR Equity Partners, L.P. and LLR
                Equity Partners Parallel, L.P. - Incorporated by reference to
                Exhibit 10.6 to the 2000 8-K.

   10.44        Common Stock Warrant Issued by Opinion Research Corporation to
                LLR Equity Partners, L.P. dated September 1, 2000 - Incorporated
                by reference to Exhibit 10.7 to the 2000 8-K.

   10.45        Common Stock Warrant Issued by Opinion Research Corporation to
                LLR Equity Partners Parallel, L.P. dated September 1, 2000 -
                Incorporated by reference to Exhibit 10.8 to the 2000 8-K.

   10.46        Anti-Dilution Common Stock Warrant Issued by Opinion Research
                Corporation to LLR Equity Partners, L.P. dated September 1, 2000
                - Incorporated by reference to Exhibit 10.9 to the 2000 8-K.

                                      -34-

<PAGE>

   10.47        Anti-Dilution Common Stock Warrant Issued by Opinion Research
                Corporation to LLR Equity Partners Parallel, L.P. dated
                September 1, 2000 - Incorporated by reference to Exhibit 10.10
                to the 2000 8-K.

   21           Subsidiaries of the Registrant.

   23           Consent of Ernst & Young LLP.


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

*    Constitutes a compensatory plan or arrangement required to be filed as an
     exhibit to this report

                                      -35-

<PAGE>

                                   SIGNATURES

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

                                        OPINION RESEARCH CORPORATION


                                        By:          /s/ John F. Short
                                            ------------------------------------
                                                  John F. Short, Chairman

                                     Dated:           March 21, 2003
                                            ------------------------------------

          Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below on March 21, 2003 by the following persons on
behalf of the Registrant and in the capacities indicated.

/s/ John F. Short           Chairman of the Board, Chief Executive Officer,
-------------------------
John F. Short               President and Director
                            (Principal Executive Officer)

/s/ Douglas L. Cox          Executive Vice President and Chief Financial Officer
-------------------------
Douglas L. Cox              (Principal Financial and Accounting Officer)

/s/ Dale J. Florio          Director
-------------------------
Dale J. Florio

/s/ John J. Gavin           Director
-------------------------
John J. Gavin

/s/ Stephen A. Greyser      Director
-------------------------
Stephen A. Greyser

/s/ Seth J. Lehr            Director
-------------------------
Seth J. Lehr

/s/ Frank J. Quirk          Executive Vice President and Director
-------------------------
Frank J. Quirk

/s/ Lenard B. Tessler       Director
-------------------------
Lenard B. Tessler

                                      -36-

<PAGE>

                                  CERTIFICATION

I, John F. Short, Chairman, CEO and President of Opinion Research Corporation,
certify that:

1.   I have reviewed this annual report on Form 10-K of Opinion Research
     Corporation;

2.   Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this annual report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this annual report
          is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this annual report (the "Evaluation Date"); and

     c)   presented in this annual report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

                                      -37-

<PAGE>

6.   The registrant's other certifying officers and I have indicated in this
     annual report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date:     March 21, 2003             Signed:    /s/ John F. Short
       --------------------                   ----------------------------------
                                     Name:         John F. Short
                                     Title:        Chairman, CEO and President

                                      -38-

<PAGE>

                                  CERTIFICATION

I, Douglas L. Cox, Executive Vice President and Chief Financial Officer of
Opinion Research Corporation, certify that:

1.   I have reviewed this annual report on Form 10-K of Opinion Research
     Corporation;

2.   Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this annual report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this annual report
          is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this annual report (the "Evaluation Date"); and

     c)   presented in this annual report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

                                      -39-

<PAGE>

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6.   The registrant's other certifying officers and I have indicated in this
     annual report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date:     March 21, 2003             Signed:    /s/ Douglas L. Cox
       --------------------                   ----------------------------------
                                     Name:         Douglas L. Cox
                                     Title:        Executive Vice President and
                                                   Chief Financial Officer

                                      -40-

<PAGE>

                            CERTIFICATION PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

     In connection with the Annual Report of Opinion Research Corporation (the
"Company") on Form 10-K for the fiscal year ending December 31, 2002, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
I, John F. Short, Chairman, CEO and President of the Company, certify, pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, that:

     (1)  The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

     (2)  The information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of the
Company.


Date:     March 21, 2003             Signed:    /s/ John F. Short
       --------------------                   ----------------------------------
                                     Name:         John F. Short
                                     Title:        Chairman, CEO and President

                                      -41-

<PAGE>

                            CERTIFICATION PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

     In connection with the Annual Report of Opinion Research Corporation (the
"Company") on Form 10-K for the fiscal year ending December 31, 2002, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
I, Douglas L. Cox, Executive Vice President and Chief Financial Officer of the
Company, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,
that:

     (1)  The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

     (2)  The information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of the
Company.


Date:     March 21, 2003             Signed:    /s/ Douglas L. Cox
       --------------------                   ----------------------------------
                                     Name:         Douglas L. Cox
                                     Title:        Executive Vice President and
                                                   Chief Financial Officer

                                      -42-

<PAGE>

                         Report of Independent Auditors



The Board of Directors and Stockholders
Opinion Research Corporation

We have audited the accompanying consolidated balance sheets of Opinion Research
Corporation and Subsidiaries as of December 31, 2002 and 2001, and the related
consolidated statements of operations, stockholders' equity, and cash flows for
each of the three years in the period ended December 31, 2002. Our audits also
included the financial statement schedule listed in the Index at Item 15(a).
These financial statements and schedule are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements and schedule 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 consolidated financial statements referred to above present
fairly, in all material respects, the consolidated financial position of Opinion
Research Corporation and Subsidiaries at December 31, 2002 and 2001, and the
consolidated results of their operations and their cash flows for each of the
three years in the period ended December 31, 2002, in conformity with accounting
principles generally accepted in the United States. Also, in our opinion, the
related financial statement schedule, when considered in relation to the basic
financial statements taken as a whole, presents fairly in all material respects
the information set forth therein.

As discussed in Notes 1 and 3 to the consolidated financial statements, the
Company adopted Statement of Financial Accounting Standards No. 142, Goodwill
and Other Intangible Assets, effective January 1, 2002.

                                      /s/ ERNST & YOUNG LLP

MetroPark, New Jersey
February 11, 2003

                                       F-1

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                           Consolidated Balance Sheets
                        (in thousands, except share data)

<TABLE>
<CAPTION>
                                                                                             December 31,
                                                                                 ----------------------------------
                                                                                       2002               2001
                                                                                 ----------------   ---------------
<S>                                                                             <C>                <C>
                                                Assets

Current Assets:
    Cash and cash equivalents                                                   $          2,549   $         2,355
    Accounts receivable:
       Billed                                                                             21,936            24,729
       Unbilled services                                                                  13,480            13,255
                                                                                 ----------------   ---------------
                                                                                          35,416            37,984
       Less: allowance for doubtful accounts                                                 348               284
                                                                                 ----------------   ---------------
                                                                                          35,068            37,700
    Prepaid and other current assets                                                       3,151             2,575
                                                                                 ----------------   ---------------
Total current assets                                                                      40,768            42,630

Property and equipment, net                                                                8,549             9,777
Intangibles, net                                                                           1,230             3,532
Goodwill                                                                                  48,577            53,144
Other assets                                                                               3,312             3,833
                                                                                 ----------------   ---------------
                                                                                $        102,436   $       112,916
                                                                                 ================   ===============

                                 Liabilities and Stockholders' Equity

Current Liabilities:
    Accounts payable                                                            $          5,501   $         4,232
    Accrued expenses                                                                      11,490             9,897
    Deferred revenues                                                                      2,090             4,397
    Short-term borrowings                                                                  6,000             4,500
    Other current liabilities                                                                954             1,751
                                                                                 ----------------   ---------------
Total current liabilities                                                                 26,035            24,777

Long-term debt                                                                            40,866            50,913
Other liabilities                                                                            720               893

Redeemable Equity:
    Preferred stock:
      Series B - 10 shares designated, issued and outstanding,
         aggregate liquidation value of $100                                                 -                 -
      Series C - 588,229 shares designated, none issued or outstanding                       -                 -
    Common stock, 1,176,458 shares issued and outstanding                                  8,900             8,900

Stockholders' Equity:
    Preferred stock, $.01 par value, 1,000,000 shares authorized:
      Series A - 10,000 shares designated, none issued or outstanding                        -                 -
    Common stock, $.01 par value, 20,000,000 shares authorized in
       2002 and 10,000,000 shares authorized in 2001, 4,879,813
       shares issued and 4,830,991 outstanding in 2002, and 4,722,605
       shares issued and 4,673,783 outstanding in 2001                                        49                47
    Additional paid-in capital                                                            19,302            18,581
    Retained earnings                                                                      6,938             9,851
    Treasury stock, at cost, 48,822 shares in 2002 and 2001                                 (261)             (261)
    Accumulated other comprehensive loss                                                    (113)             (785)
                                                                                 ----------------   ---------------
Total stockholders' equity                                                                25,915            27,433
                                                                                 ----------------   ---------------
                                                                                $        102,436   $       112,916
                                                                                 ================   ===============
</TABLE>

                 See notes to consolidated financial statements.

                                      F-2

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                      Consolidated Statements of Operations
               (in thousands, except share and per share amounts)

<TABLE>
<CAPTION>
                                                                                            Year Ended December 31,
                                                                           -------------------------------------------------------
                                                                                  2002               2001               2000
                                                                           -----------------   ----------------   ----------------
<S>                                                                       <C>                 <C>                <C>
Revenues                                                                  $         175,260   $        176,909   $        160,909
Cost of revenues                                                                    120,705            121,525            105,975
                                                                           -----------------   ----------------   ----------------
     Gross profit                                                                    54,555             55,384             54,934
Selling, general and administrative expenses                                         39,736             38,128             36,004
Depreciation and amortization                                                         4,596              8,431              7,278
Goodwill impairment charge                                                            5,938                -                  -
                                                                           -----------------   ----------------   ----------------
     Operating income                                                                 4,285              8,825             11,652
Interest and other non-operating expenses, net                                        4,784              5,413              5,681
                                                                           -----------------   ----------------   ----------------
     Income (loss) before provision for income taxes and cumulative
       effect of accounting change                                                     (499)             3,412              5,971
Provision for income taxes                                                            2,122              1,796              2,667
                                                                           -----------------   ----------------   ----------------
Income (loss) before cumulative effect of accounting change                          (2,621)             1,616              3,304

Cumulative effect of accounting change, net of tax benefit of $0                       (292)               -                  -
                                                                           -----------------   ----------------   ----------------
Net income (loss)                                                         $          (2,913)  $          1,616   $          3,304
                                                                           =================   ================   ================
Basic earnings per share:
   Income (loss) before cumulative effect of accounting change            $           (0.44)  $           0.28   $           0.70
   Cumulative effect of accounting change                                             (0.05)               -                  -
                                                                           -----------------   ----------------   ----------------
   Net income (loss)                                                      $           (0.49)  $           0.28   $           0.70
                                                                           =================   ================   ================

Diluted earnings per share:
   Income (loss) before cumulative effect of accounting change            $           (0.44)  $           0.27   $           0.65
   Cumulative effect of accounting change                                             (0.05)               -                  -
                                                                           -----------------   ----------------   ----------------
   Net income (loss)                                                      $           (0.49)  $           0.27   $           0.65
                                                                           =================   ================   ================


Weighted average common shares outstanding:
  Basic                                                                           5,948,797          5,762,383          4,691,859
  Diluted                                                                         5,948,797          5,991,566          5,053,217
</TABLE>

                 See notes to consolidated financial statements.

                                      F-3

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                 Consolidated Statements of Stockholders' Equity
                                 (in thousands)

<TABLE>
<CAPTION>

                                                                                     Additional
                                                           Common stock                paid-in          Retained
                                                     --------------------------
                                                      Shares          Amount           capital          earnings
                                                     ----------     -----------     --------------     ------------
<S>                                                  <C>            <C>             <C>                <C>
Balance, December 31, 1999                               4,293              43             15,475            4,931
Comprehensive income:
        Net income                                           -               -                  -            3,304
        Other comprehensive income:
             Foreign currency translation
                  adjustments                                -               -                  -                -

        Comprehensive income
Exercise of stock options                                   37               -                168                -
Issuance of capital stock and warrants                     145               2              1,830                -
                                                     ----------     -----------     --------------     ------------
Balance, December 31, 2000                               4,475              45             17,473            8,235
Comprehensive income:
        Net income                                           -               -                  -            1,616
        Other comprehensive income:
             Foreign currency translation
                  adjustments                                -               -                  -                -

        Comprehensive income
Exercise of stock options                                   13               -                 29                -
Issuance of capital stock and warrants                     235               2              1,079
Treasury shares purchased                                    -               -                  -                -
                                                     ----------     -----------     --------------     ------------
Balance, December 31, 2001                               4,723              47             18,581            9,851
Comprehensive loss:
        Net loss                                             -               -                  -          (2,913)
        Other comprehensive loss:
             Foreign currency translation
                  adjustments                                -               -                  -                -

        Comprehensive loss
Exercise of stock options                                    7               -                 27                -
Issuance of capital stock                                  150               2                694                -
                                                     ----------     -----------     --------------     ------------
Balance, December 31, 2002                               4,880     $        49     $       19,302     $      6,938
                                                     ==========     ===========     ==============     ============

<CAPTION>
                                                       Accumulated
                                                          other                                                Total
                                                      comprehensive             Treasury stock             stockholders'
                                                                           --------------------------
                                                      income (loss)         Shares          Amount             equity
                                                     -----------------     ----------     -----------     -----------------
<S>                                                   <C>                  <C>            <C>                  <C>
Balance, December 31, 1999                                       (70)             38           (186)                20,193
Comprehensive income:
        Net income                                                  -              -               -                 3,304
        Other comprehensive income:
             Foreign currency translation
                  adjustments                                   (537)              -               -                  (537)
                                                                                                         -----------------
        Comprehensive income                                                                                         2,767
Exercise of stock options                                           -              -               -                   168
Issuance of capital stock and warrants                              -              -               -                 1,832
                                                     -----------------     ----------     -----------     -----------------
Balance, December 31, 2000                                      (607)             38           (186)                24,960
Comprehensive income:
        Net income                                                  -              -               -                 1,616
        Other comprehensive income:
             Foreign currency translation
                  adjustments                                   (178)              -               -                 (178)
                                                                                                          -----------------
        Comprehensive income                                                                                         1,438
Exercise of stock options                                           -              -               -                    29
Issuance of capital stock and warrants                                                                               1,081
Treasury shares purchased                                           -             11            (75)                  (75)
                                                     -----------------     ----------     -----------     -----------------
Balance, December 31, 2001                                      (785)             49           (261)                27,433
Comprehensive loss:
        Net loss                                                    -              -               -               (2,913)
        Other comprehensive loss:
             Foreign currency translation
                  adjustments                                     672              -               -                   672
                                                                                                          -----------------
        Comprehensive loss                                                                                         (2,241)
Exercise of stock options                                           -              -               -                    27
Issuance of capital stock                                           -              -               -                   696
                                                     -----------------     ----------     -----------     -----------------
Balance, December 31, 2002                          $            (113)            49     $      (261)    $          25,915
                                                     =================     ==========     ===========     =================
</TABLE>

                 See notes to consolidated financial statements.

                                      F-4

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
                                 (in thousands)

<TABLE>
<CAPTION>
                                                                                         Year Ended December 31,
                                                                            -----------------------------------------------------
                                                                                  2002              2001              2000
                                                                            ---------------    ---------------   ----------------
<S>                                                                         <C>                <C>               <C>
Cash flows from operating activities:
   Net income (loss)                                                        $       (2,913)    $        1,616    $         3,304
   Adjustments to reconcile net income (loss) to net cash
     provided by operating activities:
     Depreciation and amortization                                                   4,596              8,431              7,278
     Goodwill impairment charge                                                      5,938                  -                  -
     Cumulative effect of accounting change                                            292                  -                  -
     Loss (gain) on disposal of fixed assets                                            65                 (3)                63
     Provision for doubtful accounts                                                    57                 38                  -
     Amortization of original issue discount included in interest expense              127                109                 95
     Amortization of loan fees                                                         655                385                315
     Deferred income taxes                                                            (324)              (688)              (964)
     Changes in operating assets and liabilities, net of effects
       from acquisitions,
        Billed accounts receivable                                                   3,230              2,372             (2,710)
        Unbilled services                                                             (105)               888             (1,582)
        Other assets                                                                  (319)              (692)               (58)
        Accounts payable                                                             1,159               (494)               (21)
        Accrued expenses                                                             1,392             (1,567)             4,980
        Deferred revenues                                                           (2,397)              (414)             1,244
        Other liabilities                                                             (958)              (631)              (941)
                                                                            ---------------    ---------------   ----------------
      Net cash provided by operating activities                                     10,495              9,350             11,003
                                                                            ---------------    ---------------   ----------------

Cash flows from investing activities:
   Payments for acquisitions, net of cash acquired                                     (46)           (10,851)           (19,344)
   Proceeds from the sale of fixed assets                                                4                 30                  -
   Capital expenditures                                                             (2,334)            (3,934)            (4,440)
                                                                            ---------------    ---------------   ----------------
      Net cash used in investing activities                                         (2,376)           (14,755)           (23,784)
                                                                            ---------------    ---------------   ----------------

Cash flows from financing activities:
   Borrowings under line-of-credit agreement                                        28,059             31,514             31,233
   Repayments under line-of-credit agreement                                       (32,233)           (24,975)           (24,836)
   Repayments of notes payable                                                      (4,500)            (3,000)            (2,051)
   Repayments under capital lease arrangements                                         (27)               (21)               (22)
   Redemption of acquisition stock options                                               -                  -             (2,000)
   Proceeds from issuance of capital stock, warrants, and options                      723              1,035             10,900
                                                                            ---------------    ---------------   ----------------
      Net cash provided by (used in) financing activities                           (7,978)             4,553             13,224
                                                                            ---------------    ---------------   ----------------

Effect of exchange rate changes on cash and cash equivalents                            53                (28)               (16)
                                                                            ---------------    ---------------   ----------------
Increase (decrease) in cash and cash equivalents                                       194               (880)               427
Cash and cash equivalents at beginning of period                                     2,355              3,235              2,808
                                                                            ---------------    ---------------   ----------------
Cash and cash equivalents at end of period                                  $        2,549     $        2,355    $         3,235
                                                                            ===============    ===============   ================
</TABLE>

                 See notes to consolidated financial statements.

                                      F-5

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                December 31, 2002
               (in thousands, except share and per share amounts)


1. Summary of significant accounting policies

Nature of operations and basis of presentation

Opinion Research Corporation (the "Company" or "ORC") was established in 1938 to
apply the principles of general public opinion polling to marketing issues
facing America's largest companies. The Company has evolved to provide social
research, market research, information services, marketing services, and
telemarketing. The Company performs public sector primary research and provides
information technology, communications, and other consulting services, primarily
to agencies of the United States federal government and state and local
governments. The Company also assists its commercial clients in the evaluation,
monitoring and optimization of their marketing and sales efforts, addressing
issues such as customer loyalty and retention, market demand and forecasting,
and corporate image and competitive positioning. The majority of the Company's
governmental projects are in the areas of health, education, and international
aid. The Company's telemarketing services consist principally of outbound
customer acquisition services.

The consolidated financial statements include the accounts of the Company and
its wholly owned subsidiaries. All inter-company transactions are eliminated
upon consolidation.

Revenue recognition

The Company recognizes revenues on the percentage of completion method for its
market research and social research segments, which relies on a periodic
determination of the ratio of costs incurred to total estimated contract costs.
The Company follows this method since reasonably dependable estimates of the
revenue and costs applicable to various stages of a project can be made.
Recognized revenue and profit are subject to revisions as the project progresses
to completion. Revisions in profit estimates are reflected in operations in the
period in which the facts that give rise to the revision become known. These
revisions could be material to the Company's results of operations. For the
Company's teleservices business, revenues are recognized at the time services
are performed.

Invoices to clients are generated in accordance with the terms of the applicable
contract, which may not be directly related to the performance of services.
Unbilled receivables are invoiced based upon the achievement of specific events
as defined by each contract including deliverables, timetables and incurrence of
certain costs. Unbilled receivables are classified as a current asset. Advanced
billings to clients in excess of revenue earned are recorded as deferred
revenues and are classified as a current liability. The Company grants credit
primarily to large companies and government agencies and performs periodic
credit evaluations of its clients' financial condition. The Company does not
generally require collateral. Credit losses relating to clients generally have
been within management's expectations.

                                      F-6

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


1. Summary of significant accounting policies (continued)

Revenue recognition (continued)

Reimbursements of out of pocket expenses are included in revenues with
corresponding costs incurred by the Company included in costs of revenues.

Cash equivalents

The Company considers as cash equivalents all highly liquid debt instruments
with a maturity of three months or less when purchased.

Property and equipment

Property and equipment are stated at cost. Depreciation is provided using the
straight-line method over the estimated useful lives of the related assets (3-10
years). Leasehold improvements are amortized using the straight-line method over
their estimated useful lives or the remaining life of the lease, whichever is
shorter.

Impairment of long-lived assets

The Company records impairment losses on long-lived assets used in operations or
expected to be disposed when events and circumstances indicate that the assets
might be impaired and the undiscounted cash flows estimated to be generated by
those assets are less than the carrying amounts of those assets.

Foreign currency translation

All assets and liabilities of foreign subsidiaries are translated into U.S.
dollars using the exchange rate in effect at the balance sheet date and revenues
and expenses are translated using an average exchange rate during the period.
The resulting translation adjustments are recorded as a component of other
comprehensive income and are accumulated in stockholder's equity. Because
cumulative translation adjustments are considered a component of permanently
invested unremitted earnings of subsidiaries outside of the United States, no
taxes are provided on such amounts.

Stock-based compensation

As permitted by FASB Statement No. 123, Accounting for Stock-Based Compensation,
the Company has elected to follow Accounting Principles Board Opinion No. 25,
Accounting for Stock Issued to Employees ("APB 25") and related interpretations
in accounting for its employee option plans.

                                      F-7

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


1. Summary of significant accounting policies (continued)

Stock-based compensation (continued)

Under APB 25, no compensation expense is recognized at the time of the option
grant if the exercise price of the employee stock option is fixed and equals or
exceeds the fair market value of the underlying common stock on the date of
grant and the number of shares to be issued pursuant to the exercise of such
options are known and fixed at the grant date.

If the Company had elected to recognize compensation expense based on the fair
value of the options granted at grant date as prescribed by SFAS No. 123, net
income (loss) and earnings per share would have been adjusted to the pro forma
amounts indicated in the table below:

<TABLE>
<CAPTION>
                                                                         2002            2001          2000
                                                                     ------------     ----------    ----------
      <S>                                                            <C>              <C>           <C>
      Net income (loss) - as reported .............................       ($2,913)        $1,616        $3,304
      Deduct: total stock-based employee
           compensation expense determined under
           Fair value method for all awards,
           net of related tax effects .............................          (582)          (423)         (468)
                                                                     ------------     ----------   -----------
      Net income (loss) - pro forma ...............................       ($3,495)        $1,193        $2,836
                                                                     ============     ==========   ===========

      Basic earnings (loss) per share - as reported ...............         ($.49)        $  .28        $  .70
      Basic earnings (loss) per share - pro forma .................         ($.59)        $  .21        $  .60

      Diluted earnings (loss) per share - as reported .............         ($.49)        $  .27        $  .65
      Diluted earnings (loss) per share - pro forma ...............         ($.59)        $  .20        $  .56
</TABLE>

The fair value of each option grant is estimated on the date of grant using the
Black-Scholes option-pricing model with the following weighted average
assumptions:

<TABLE>
<CAPTION>
                                                               2002         2001           2000
                                                            -----------  -----------   -----------
           <S>                                              <C>          <C>           <C>
           Expected dividend yield ......................          0%            0%            0%
           Expected stock price volatility ..............       53.4%         62.9%         66.8%
           Risk-free interest rate ......................        3.8%          5.1%          6.3%
           Expected life of options .....................    7 years        7 years       7 years
</TABLE>

The weighted average fair value of options granted during 2002, 2001, and 2000
was $3.32, $4.34 and $6.12 per share, respectively.

                                      F-8

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


1. Summary of significant accounting policies (continued)

Income taxes

The Company uses the liability method of accounting for income taxes. Under this
method, deferred tax assets and liabilities are determined based on the
differences between financial statement and tax bases of assets and liabilities
and are measured using the enacted tax rates and laws that are expected to be in
effect when the differences are expected to reverse. Recognition of deferred tax
assets is limited to amounts considered by management to be more likely than not
to be realized in future periods.

Computer software

In accordance with Statement of Position 98-1 ("SOP 98-1"), Accounting for the
Costs of Computer Software Developed or Obtained for Internal Use issued by the
American Institute of Certified Public Accountants, the Company has capitalized
certain internal and external costs incurred to acquire or create internal use
software. Capitalized costs are amortized over five years.

Comprehensive income (loss)

Comprehensive income (loss) consists of two components, net income (loss) and
other comprehensive income (loss). Other comprehensive income (loss) refers to
revenue, expenses, gains and losses that, under generally accepted accounting
principles, are recorded as an element of stockholders' equity but are excluded
from net income (loss). The Company's other comprehensive income (loss) is
comprised of foreign currency translation adjustments from those subsidiaries
not using the U.S. dollar as their functional currency. Total accumulated other
comprehensive income (loss) is displayed as a separate component of
stockholders' equity in the accompanying consolidated balance sheets.

Goodwill and other intangible assets

The Company adopted Statement of Financial Accounting Standards No. 142,
Goodwill and Other Intangible Assets, effective January 1, 2002. Under Statement
142, goodwill and intangible assets that have indefinite useful lives are no
longer amortized. Statement 142 requires goodwill to be tested for impairment on
an annual basis, or more frequently if certain indicators arise, using the
guidance specifically provided. Furthermore, Statement 142 requires purchased
intangible assets other than goodwill to be amortized over their useful lives
unless these lives are determined to be indefinite. The Company uses comparable
company analyses and discounted cash flow models to determine the fair value of
its reporting units and whether any impairment of goodwill exists. See Note 3
for additional information regarding goodwill and other intangibles.

                                      F-9

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


1. Summary of significant accounting policies (continued)

Earnings per share

Basic and diluted earnings per share are calculated in accordance with FASB
Statement No. 128, Earnings per Share.

Use of estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of 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.

2. Recent accounting pronouncements

In August 2001, the FASB issued Statement No. 143, Accounting for Asset
Retirement Obligations. That standard requires entities to record the fair value
of a liability for an asset retirement obligation in the period in which it is
incurred. The Company adopted Statement 143 on January 1, 2003, and the adoption
of Statement 143 will not have any material impact on the Company's results of
operations, financial position or cash flows.

Effective January 1, 2002, the Company adopted FASB Statement No. 144,
Accounting for the Impairment or Disposal of Long-Lived Assets, which supersedes
Statement No. 121, Accounting for the Impairment of Long-Lived Assets and for
Long-Lived Assets to Be Disposed Of, and provides a single accounting model for
long-lived assets to be disposed of. Although retaining many of the fundamental
recognition and measurement provisions of Statement 121, the new rules
significantly change the criteria that would have to be met to classify an asset
as held-for-sale. The adoption of Statement 144 did not have an impact on the
Company's results of operations, financial position or cash flows.

In December 2002, the FASB issued Statement No. 148, Accounting for Stock-Based
Compensation -- Transition and Disclosure. Statement 148 amends Statement 123,
Stock-Based Compensation, to provide alternative methods of transition for a
voluntary change to the fair value based method of accounting for stock-based
employee compensation. In addition, this Statement amends the disclosure
requirements of Statement 123 to require prominent disclosures in both annual
and interim financial statements about the method of accounting for stock-based
employee compensation and the effect of the method used on reported results. The
disclosure provisions of this Statement are effective for fiscal years ending
after December 15, 2002 and have been incorporated into Note 1 to the
consolidated financial statements.

                                      F-10

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


3. Goodwill and other intangibles

As discussed in Note 1 to the Consolidated Financial Statements, the Company
adopted Statement of Financial Accounting Standards No. 142, Goodwill and Other
Intangible Assets, on January 1, 2002. Under Statement 142, goodwill and
intangible assets that have indefinite useful lives are no longer amortized.
Instead, Statement 142 requires such assets be reviewed for impairment annually,
or more frequently if certain indicators arise, using the guidance specifically
provided. Upon adoption at January 1, 2002, the Company reclassified assembled
workforce intangible assets with an unamortized balance of $865 to Goodwill.
During the year the Company identified other intangible assets with useful life
that can no longer be determined. As a result, the Company reclassified $480
from other intangible assets to goodwill in the fourth quarter of 2002. The
Company has also performed an initial transitional impairment testing and
determined a goodwill impairment loss in the Company's Mexican subsidiary of
$292, or $(0.05) per share. The charge has been reflected as a cumulative effect
of a change in accounting principle.

The Company chose October 1 to conduct its annual impairment test. Under
Statement 142, goodwill impairment occurs if the net book value of a reporting
unit exceeds its estimated fair value. In October 2002, as part of its annual
impairment test, the Company engaged an independent valuation firm to determine
if there had been an impairment of the goodwill associated with the Company's
U.S. market research business. The analysis performed by the independent
valuation firm indicated that the recorded book value of the U.S. market
research reporting unit exceeded its fair value, as determined by a weighting of
comparable company analyses and discounted cash flow models. Upon completion of
such assessment, the Company recorded a non-cash impairment charge of $5,938 to
reduce the carrying value of goodwill in the U.S. market research reporting
unit.

Management believes that the decline in the fair value of its U.S. market
research business can be attributed to the following:

  . A deterioration in general economic conditions during 2000 - 2002;
  . An even greater decline in business to business market research activity;
  . An expectation that recovery will be prolonged;

Management cannot provide assurance that an additional impairment charge will
not be required in the future if the U.S. market research business does not
recover as projected.

                                      F-11

<PAGE>


                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


3. Goodwill and other intangibles (continued)

The following table presents a reconciliation of reported net income (loss) and
earnings (loss) per share to adjusted net income (loss) and earnings (loss) per
share, as if Statement 142 had been in effect for previously reported years:

<TABLE>
<CAPTION>
                                                               Years ended December 31,
                                                       -----------------------------------------
                                                          2002            2001           2000
                                                       ------------    -----------    ----------
<S>                                                   <C>              <C>         <C>
Net income (loss), as reported                        $    (2,913)    $      1,616  $    3,304
  Amortization of goodwill, net of tax                           -           2,627       2,033
  Amortization of workforce, net of tax                          -             208         208
                                                        ----------      ----------    --------
Net income (loss), as adjusted                             (2,913)    $      4,451  $    5,545
                                                        ==========      ==========    ========

Basic earnings (loss) per share, as reported          $     (0.49)    $       0.28  $     0.70
  Amortization of goodwill, net of tax                           -            0.46        0.43
  Amortization of workforce, net of tax                          -            0.03        0.04
                                                        ----------      ----------    --------
Basic earnings (loss) per share, as adjusted          $     (0.49)    $       0.77  $     1.17
                                                        ==========      ==========    ========

Diluted earnings (loss) per share, as reported        $     (0.49)    $       0.27  $     0.65
  Amortization of goodwill, net of tax                           -            0.44        0.40
  Amortization of workforce, net of tax                          -            0.03        0.04
                                                        ----------      ----------    --------
Diluted earnings per share, as adjusted               $     (0.49)    $       0.74  $     1.09
                                                        ==========      ==========    ========
</TABLE>

The changes in the carrying value of goodwill as of December 31, 2002 are as
follows:

<TABLE>
<CAPTION>

                                   U.S. Market   U.K. Market                 Social
                                    Research       Research   Teleservices  Research     Other   Consolidated
--------------------------------------------------------------------------------------------------------------
<S>                                <C>           <C>          <C>           <C>          <C>     <C>

Balance at January 1, 2002            $14,441         $2,200      $15,530    $20,436     $537       $53,144
Assembled workforce and other
  intangible assets reclassified          480            113            -        752        -         1,345
Earn-out payments                           -              -            -          -       46            46
Impairment loss                        (5,938)             -            -          -     (292)       (6,230)
Foreign currency translation                -            243            -          -       29           272
Balance at December 31, 2002          $ 8,983         $2,556      $15,530    $21,188     $320       $48,577
--------------------------------------------------------------------------------------------------------------
</TABLE>

                                      F-12

<PAGE>


                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


3. Goodwill and other intangibles (continued)

The Company's intangible assets consist of the following:


                                                       December 31,
                                               --------------------------
                                                     2002         2001

Intangible assets subject to amortization:

     Customer lists                             $     3,705  $    4,554
     Non-competition agreements                       1,533       1,484
     Backlog                                          1,350       1,350
     Assembled workforce                                  -       1,917
     Other                                              497         458
                                                  ---------   ----------
                                                      7,085       9,762
Accumulated amortization                             (5,855)     (6,230)
                                                  ---------   ---------
                                                $     1,230  $    3,532
                                                  =========   =========

Amortization expense for other intangibles for the year ended December 31, 2002
and 2001 was $986 and $1,373, respectively. The prior year period includes
approximately $346 of amortization related to assembled workforce that is no
longer subject to amortization as discussed above. The estimated aggregate
amortization expense for each of the five succeeding years is as follows:

                 2003 ................................. $537
                 2004 .................................  312
                 2005 .................................  166
                 2006 .................................   15
                 2007 .................................   15

4.  Acquisitions

On April 30, 1999, the Company completed the purchase of all outstanding shares
of stock of Macro International Inc. ("Macro"). The purchase price was comprised
of a $22,300 cash payment and approximately $1,010 of additional costs related
to the acquisition. In addition, over the years 1999 through 2000, the sellers
were eligible to earn up to an additional $8,700 of cash payments, contingent
upon achieving certain agreed-upon operating milestones. Based upon Macro's
operating results for period ended April 30, 2000 and 2001, additional payments
of $3,200 and $5,500 were made to the sellers in 2000 and 2001, respectively.

                                      F-13

<PAGE>


                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


4.  Acquisitions (continued)

On August 31, 2000, the Company acquired substantially all of the assets of C/J
Research, Inc. ("C/J"). The purchase price was comprised of a $9,225 cash
payment and approximately $325 of additional costs related to the acquisition.
The fair value of the net assets acquired was $637. Identifiable intangible
assets valued at $1,300 are being amortized using the straight-line method over
a period of five years. The excess consideration paid over the estimated fair
value of net assets and identifiable intangible assets acquired in the amount of
$7,613, has been recorded as goodwill and was amortized using the straight-line
method over a period of twenty years prior to the adoption of Statement 142.

Pursuant to a Stock Purchase Agreement dated October 31, 2000, the Company,
through its wholly owned subsidiary Macro, acquired all of the outstanding
shares of stock of Social & Health Services, Ltd. ("SHS"), a communications and
information management company based in Rockville, Maryland. The purchase price
was comprised of $3,750 in cash, 144,990 shares of the Company's common stock
valued at $1,000, and approximately $180 of other acquisition related costs. The
fair value of the net assets acquired was $2,340. Identifiable intangible assets
valued at $594 are being amortized using the straight-line method over a period
of five years. The excess consideration paid over the estimated fair value of
net assets and identifiable intangible assets acquired in the amount of $1,996,
has been recorded as goodwill and was amortized using the straight-line method
over a period of twenty years prior to the adoption of Statement 142.

The unaudited pro forma results of operations for the year ended December 31,
2000 which assumes the consummation of C/J and SHS purchases as of January 1,
2000, are as follows:

                                                            2000
                                                       ---------------

             Revenues                                      $180,173
             Net income                                    $  4,276

             Net income per share:
                  Basic                                    $   0.76
                  Diluted                                  $   0.72

The pro forma net income includes adjustment for amortization of goodwill and
identifiable intangible assets, adjustment of interest expense, and the related
income tax effects of such adjustments.

                                      F-14

<PAGE>


                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


5.  Accounts Receivable

Accounts receivable consists of the following:

<TABLE>
<CAPTION>
                                                                       December 31,
                                                                 ----------------------
                                                                    2002         2001
                                                                 ----------  ----------
          <S>                                                    <C>         <C>
          Billed receivables:
               U.S. governmental departments and agencies           $ 9,168     $11,160
               Commercial clients & other                            12,768      13,569
                                                                 ----------  ----------
                                                                     21,936      24,729
                                                                 ----------  ----------
          Unbilled receivables:
               U.S. governmental departments and agencies           $ 9,772     $ 8,743
               Commercial clients & other                             3,708       4,512
                                                                 ----------  ----------
                                                                     13,480      13,255
                                                                 ----------  ----------
          Accounts receivable, gross                                $35,416     $37,984
          Less: allowance for doubtful accounts                         348         284
                                                                 ----------  ----------
          Accounts receivable, net                                  $35,068     $37,700
                                                                 ==========  ==========
</TABLE>

One client in the Company's social research business constituted 11% of net
billed receivable for the year ended December 31, 2002. No single client
constituted more than 10% of net billed receivable at December 31, 2001.

6.  Property and equipment

Property and equipment consists of the following:

<TABLE>
<CAPTION>
                                                                       December 31,
                                                                ------------------------
                                                                    2002         2001
                                                                -----------  -----------
          <S>                                                   <C>          <C>
          Leasehold improvements                                   $ 4,104      $ 3,863
          Computer equipment and software                           13,087       16,881
          Furniture, fixtures, and equipment                         5,569        6,693
          Equipment under capital lease obligations                    154          139
                                                                -----------  -----------
                                                                    22,914       27,576
          Less accumulated depreciation and amortization            14,365       17,799
                                                                -----------  -----------
          Property and equipment, net                              $ 8,549      $ 9,777
                                                                ===========  ===========
</TABLE>

Depreciation expense for the years ended December 31, 2002, 2001, and 2000 was
$3,610, $3,671, and $3,626, respectively.

                                      F-15

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

7.  Income taxes

For financial reporting purposes, income (loss) before income taxes and
cumulative effect of accounting change consists of the following:

                                                 Year Ended December 31,
                                          -------------------------------------
                                             2002          2001         2000
                                          ----------    ----------   ----------

          United States                        ($978)       $3,497       $6,044
          Foreign                                479           (85)         (73)
                                          ----------    ----------   ----------
                                               ($499)       $3,412       $5,971
                                          ==========    ==========   ==========

The provision (benefit) for income taxes, excluding amounts related to
cumulative effect of accounting change, consists of the following:

                                                 Year Ended December 31,
                                          -------------------------------------
                                             2002          2001         2000
                                          ----------    ----------   ----------
          Current:
             Federal                          $  821        $1,662       $2,898
             State                             1,256           610          593
             Foreign                             218           212          140
                                          ----------    ----------   ----------
             Total current                    $2,295         2,484        3,631
                                          ----------    ----------   ----------

          Deferred:
             Federal                            (238)         (308)        (732)
             State                                23          (380)        (212)
             Foreign                              42             -          (20)
                                          ----------    ----------   ----------
             Total deferred                     (173)         (688)        (964)
                                          ----------    ----------   ----------
                                              $2,122        $1,796       $2,667
                                          ==========    ==========   ==========

The difference between tax expense and the amount computed by applying the
statutory federal income tax rate (34%) to income before income taxes and
cumulative effect of accounting change is as follows:

                                      F-16

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

7.  Income taxes (continued)

<TABLE>
<CAPTION>
                                                                                Year Ended December 31,
                                                                        --------------------------------------
                                                                           2002          2001          2000
                                                                        ----------    ----------    ----------
          <S>                                                           <C>           <C>           <C>
          Statutory rate applied to pre-tax income (loss)                    ($170)       $1,160        $2,030
          Add (deduct):
               State income taxes, net of federal benefit                      526           403           391
               State deferred taxes                                             41             -             -
               State NOL benefit                                              (313)            -             -
               Foreign rate differential                                        93             -             -
               Foreign operating losses for which a tax
                 benefit has not been recorded                                  34            42            70
               Effect of impairment and non-deductible goodwill
                 amortization                                                2,019           449           362
               Effect of other non-deductible expenses                          73            58            44
               Tax credits                                                    (165)         (160)         (165)
               Other                                                           (16)         (156)          (65)
                                                                        ----------    ----------    ----------
                                                                            $2,122        $1,796        $2,667
                                                                        ==========    ==========    ==========
</TABLE>

The Company's deferred tax liabilities and assets consist of the following
temporary differences:

<TABLE>
<CAPTION>
                                                                                            December 31,
                                                                                      ------------------------
                                                                                         2002          2001
                                                                                      ----------    ----------
          <S>                                                                         <C>           <C>
          Deferred tax liabilities:
             Fixed assets                                                                  ($255)            -
             Intangibles                                                                    (744)         (641)
             Other                                                                          (427)         (598)
                                                                                      ----------    ----------
                Total deferred tax liabilities                                            (1,426)       (1,239)
                                                                                      ----------    ----------
          Deferred tax assets:
             Reserves for doubtful accounts                                                  104            87
             Fixed assets                                                                      -            98
             Intangibles                                                                     607           472
             Compensation                                                                    651           624
             Accrued expenses                                                                301           253
             Other                                                                           695           313
                                                                                      ----------    ----------
                Total deferred tax assets                                                  2,358         1,847
                                                                                      ----------    ----------
          Net deferred tax assets (liabilities)                                          $   932       $   608
                                                                                      ==========    ==========
</TABLE>

                                  F-17

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

7.  Income taxes (continued)

At December 31, 2002 and 2001, the Company has net current deferred tax assets
in the amount of $562 and $439, respectively, which are reported in the balance
sheet in prepaid and other current assets. At December 31, 2002 and 2001, the
Company has net long-term deferred tax assets in the amount of $370 and $169,
respectively, which are reported in the balance sheet in other non-current
assets. Income taxes paid in the U.S. in 2002, 2001, and 2000 were $1,837,
$3,205, and $3,166, respectively. Income taxes paid in the U.K. in 2002, 2001,
and 2000 were $417, $114, and $0, respectively.

At December 31, 2002, unremitted earnings of foreign subsidiaries were
approximately $286. Since it is the Company's intention to indefinitely reinvest
these earnings, no U.S. taxes have been provided. Determination of the amount of
unrecognized deferred tax liability on these unremitted taxes is not
practicable.

8.  Debt

Debt consists of the following:

                                                             December 31,
                                                       ------------------------
                                                          2002          2001
                                                       ----------    ----------

          Working capital facilities                      $13,015       $17,189
          Notes payable                                    33,851        38,224
                                                       ----------    ----------
          Total debt                                       46,866        55,413
          Less current maturities                           6,000         4,500
                                                       ----------    ----------
          Long-term portion                               $40,866       $50,913
                                                       ==========    ==========

In May 1999, the Company entered into a credit agreement with a financial
institution for a facility which provided $30,000 of term notes and up to
$20,000 of revolving credit for a six-year term (the "Senior Facility"). The
Senior Facility carried an interest rate at the discretion of the Company of
either the financial institution's designated base rate plus 100 basis points or
LIBOR plus 250 basis points for both revolving credit and term notes. The Senior
Facility is secured by substantially all of the assets of the Company.

On October 4, 2001, the Company amended its Senior Facility increasing the
amount available under the revolving credit to up to $24,000 and shortening the
maturity for both the revolving credit and the term notes to June 1, 2004 from
May 31, 2005 (the "October 2001 Amendment"). Additionally, the October 2001
Amendment provided for an increase in the interest rate to LIBOR plus 325 basis
points or the financial institution's designated base rate plus 200 basis
points.

                                      F-18

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

8. Debt (continued)

On September 29, 2002, the Company further amended its credit facilities (the
"September 2002 Amendment"), which, among other things, reduced the amount
available under the revolving credit from $24,000 to $19,000 and amended certain
near-term financial covenants to less restrictive amounts. As of December 31,
2002, the Company had approximately $5,985 of additional credit available under
the amended facilities.

In conjunction with the September 2002 Amendment, the Company wrote off $77
unamortized loan fees and incurred additional costs of $55, which have been
recorded as other long-term assets in the Company's consolidated financial
statements and, together with the previously unamortized loan fees of $672, are
being amortized over the remaining term of the facility.

In February 2003, the Company completed another amendment to its Senior Facility
(the "February 2003 Amendment") which further reduced the amount available under
the revolving credit from $19,000 to $16,500 and amended certain future
covenants to be less restrictive. Additionally, the February 2003 Amendment
provides for an increase in the interest rate by 50 basis points to LIBOR plus
375 basis points or the financial institution's designated base rate plus 250
basis points. Upon signing the February 2003 Amendment, the Company had
approximately $4,100 of additional credit available under the newly amended
facilities.

The Company's Senior Facility will mature on June 1, 2004 and as is customary,
may be accelerated if the Company is unable to meet various financial covenants.
The Company expects to renegotiate its credit facilities during 2003, extending
their maturities, and expects to meet the financial covenant requirements.

In May 1999, the Company also issued $15,000 of subordinated debentures to a
financial institution. In exchange for consideration received in connection with
this debt, the Company also issued warrants to purchase a maximum of 437,029
shares of the Company's common stock at an exercise price of $5.422 per share.
The warrants are exercisable from the date of issuance and expire in 2007. The
subordinated financing has an eight-year term and an original coupon rate of
12%. In conjunction with the February 2003 Amendment, the Company also amended
its subordinated debenture to increase the coupon rate from 12% to 12.5% and
amended certain future covenants to be less restrictive. The carrying value of
such debt, $14,351 at December 31, 2002, is included in notes payable in the
previously presented debt table.

                                      F-19

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

8.  Debt (continued)

Aggregate maturities of debt for the years ending December 31 are as follows:

          2003 ......................................   $ 6,000
          2004 ......................................    26,515
          2005 ......................................     3,750
          2006 ......................................     7,500
          2007 ......................................     3,750
          Thereafter                                          -

The Company paid interest of $3,971, $4,960, and $5,500 for the year ended
December 31, 2002, 2001, and 2000, respectively.

9.  Leases

Future minimum payments required under capital and operating leases that have
non-cancelable lease terms in excess of one year are as follows:

                                                        Capital      Operating
                                                        Leases        Leases
                                                       --------     -----------

          2003 ......................................       $27          $8,707
          2004 ......................................         -           7,525
          2005 ......................................         -           5,862
          2006 ......................................         -           5,109
          2007 ......................................         -           1,873
          Thereafter ................................         -           2,729
                                                       --------     -----------
          Total minimum lease payments ..............       $27         $31,806
                                                                    ===========
          Less amounts representing interest ........         1
                                                       --------
          Capitalized lease obligations .............       $26
                                                       ========

At December 31, 2002, the current capital lease obligation of $26 was recorded
in the balance sheet in other current liabilities. Rent expense under operating
leases was $8,412, $7,935, and $6,006, for the years ended December 31, 2002,
2001 and 2000, respectively. Real estate taxes, insurance and maintenance
expenses generally are obligations of the Company and, accordingly, are not
included as part of rental payments. It is expected that, in the normal course
of business, leases that expire will be renewed or replaced by leases on similar
properties.

                                      F-20

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


10.  Benefit plans

The Company maintains a defined contribution pension and profit sharing plan
covering substantially all domestic employees ("the ORC Plan") except for Macro
and SHS, which maintained separate profit sharing and 401(k) plans (the "Macro
Plans" and the "SHS Plans"). As of December 31, 2002, employees may contribute
up to 25% of their annual salary but not to exceed the maximum allowable under
the Internal Revenue Code. The respective Board of Directors may elect to match
employees' contributions or contribute to the profit sharing plan. The ORC Plan
assets included 159,625 and 161,625 shares of common stock of the Company as of
December 31, 2002 and 2001, respectively. The Company contributed $421, $341,
and $200 to the ORC Plan in 2002, 2001, and 2000, respectively. Under the Macro
Plans, the Company contributed $1,900, $1,300, and $1,593 in 2002, 2001 and
2000, respectively. Under the SHS Plans, the Company contributed $377 and $365
in 2002 and 2001, respectively.

11.  Redeemable equity

On July 19, 2001, guidance was issued in EITF Topic No. D-98, Classification and
Measurement of Redeemable Securities, which requires securities with redemption
features, including those that become exercisable only upon a change-in-control,
be classified outside of permanent equity. As described in the paragraphs below,
certain of the Company's equity instruments purchased by LLR Equity Partners,
L.P. and LLR Equity Partners Parallel, L.P. (collectively, "LLR") on September
1, 2000 contain such change-in-control redemption rights.

Pursuant to the terms of a September 1, 2000 Purchase Agreement, the Company
sold and LLR purchased in a private placement (i) 1,176,458 shares of the
Company's Common Stock, (ii) 10 shares of the Series B Preferred Stock, and
(iii) warrants to purchase 740,500 shares of the Company's Common Stock at an
exercise price of $12.00 per share, for aggregate gross proceeds of $10 million.
The warrants are exercisable from the date of issuance and expire in 2010. If
the Company sells shares of Common Stock in the future at a per share price
below $8.50, the exercise price of the warrants would be proportionately reduced
and certain contingent warrants issued to LLR at an exercise price of $.01 per
share become exercisable.

The holders of Series B Preferred Stock are entitled to nominate and elect two
directors to the Company's Board of Directors. The holders of the Series B
Preferred Stock are not entitled to receive dividends. In the event of
liquidation, each share of the Series B Preferred Stock is entitled to a
liquidation preference of $10.00 per share. The Company may redeem the
outstanding shares of Series B Preferred Stock at any time LLR's shareholdings
fall below 10% of the Company's outstanding common shares, at a per share amount
equal to the greater of the fair market value or the liquidation preference.

                                      F-21

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


11.  Redeemable equity (continued)

At any time after the fifth anniversary of the closing, LLR may exchange each
share of Common Stock for one-half of a share of the Company's Series C
Preferred Stock. After conversion, the holders of Series C Preferred Stock are
entitled to receive cumulative quarterly cash dividends at an annual rate of
$2.04 per share. In the event of liquidation, each share of the Series C
Preferred Stock is entitled to a liquidation preference of $17.00 per share plus
all accrued and unpaid dividends. Each share of Series C Preferred Stock is
convertible at all times into two shares of Common Stock.

The holders of Series C Preferred Stock are entitled to vote on all matters
before the common holders, as a single class with the Common Stock, on an as if
converted basis. Additionally, holders of Series C Preferred Stock as a class,
may also nominate and elect two additional directors to the Company's Board of
Directors, subject to LLR maintaining certain specified ownership percentages.

In the event of (i) the sale of substantially all of the assets of the Company,
(ii) any consolidation or merger of the Company into another corporation or
entity in which the stockholders of the Company immediately prior to such
transaction hold less than 50% of the Company's voting power immediately after
such transaction, or (iii) any transactions in which in excess of 50% of the
Company's voting power is transferred to one or more affiliated persons, the
holders of the Series B Preferred Stock and the Series C Preferred Stock may
require the Company to redeem such securities at their liquidation preferences
of $10.00 and $17.00 per share, respectively. Because such redemption features
are not solely within the control of the Company, the Series B Preferred Stock
and the 1,176,458 shares of Common Stock held by LLR (which may be exchanged
into shares of Series C Preferred Stock), have been presented outside of
stockholders' equity in the Company's consolidated balance sheets.

The 1,176,458 shares of Common Stock held by LLR are carried at their aggregate
fair value at issuance of $8.9 million, and no changes will be made to such
carrying value until a change-in-control of the Company is probable. Finally,
because the rights to exchange shares of Common Stock into shares of Series C
Preferred Stock may not be transferred by LLR to any parties other than
affiliates of LLR, these rights will terminate upon any resale or transfer of
the 1,176,458 LLR common shares to an unaffiliated entity. Accordingly, upon the
occurrence of any such resale or transfer, the Company will reclassify a
pro-rata portion of the carrying value of the LLR Common Stock into
stockholders' equity.

The Company may call, solely at its discretion, the outstanding shares of Series
C Preferred Stock at any time at a per share amount equal to the greater of the
fair market value or the liquidation preference multiplied by 25% per annum,
compounded annually from September 30, 2000, plus any accrued but unpaid
dividends per share.

                                      F-22

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


12.  Stock options

The Company maintains a 1997 Stock Incentive Plan, which provides for the grant
of up to 1,625,000 options to purchase common stock to directors and key
employees of the Company. The exercise price of options granted to employees
under this plan is at least equal to the fair market value of the stock on the
date of grant; stock options are exercisable for seven years. Options granted
under this plan are vested equally over a three-year period.

Under the 1997 Stock Incentive Plan as amended, each Non-employee Director is
granted options to acquire the "formula number" of shares of common stock on
January 2nd of each year. The option exercise price for these options is equal
to the fair market value of the underlying shares on the date of the grant.

These options become exercisable on the first anniversary of the date of grant
provided the Non-employee Director is a member of the Board of Directors on that
date. The options granted under this provision are non-qualified stock options.

For 2002, 2001 and 2000, all outside directors were granted the "formula number"
of 5,000 shares. In addition, each director who chaired a committee was granted
options to purchase an additional 5,000 shares of the Company's common stock.

Non-employee Directors' options terminate seven years from the date of grant or
the first anniversary after the optionee ceases to serve as a member of the
Board of Directors for any reason. Any options of a Non-employee Director that
are not exercisable when he or she ceases to serve as a member of the Board of
Directors will terminate as of the termination of the Non-employee Director's
service on the Board of Directors.

Stock option transactions were as follows:

<TABLE>
<CAPTION>
                                                                        Weighted
                                                           Number       Average
                                                         of Shares   Exercise Price
                                                        -----------  ---------------
       <S>                                              <C>          <C>
       Outstanding Balance at December 31, 1999            954,792       $5.55

       2000
       ----
       Granted                                             264,000        $8.75
       Canceled                                            (76,859)       $6.18
       Exercised                                          (118,300)       $5.01
                                                       ------------
       Outstanding Balance at December 31, 2000          1,023,633        $6.39
</TABLE>

                                      F-23

<PAGE>

                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


12.  Stock options (continued)

<TABLE>
<CAPTION>
                                                          Number      Weighted Average
      (continued from previous table)                   of Shares      Exercise Price
                                                     ---------------  -----------------
      <S>                                            <C>              <C>
      2001
      ----
      Granted                                              124,000          $6.49
      Canceled                                             (26,224)         $7.01
      Exercised                                            (39,500)         $5.06
                                                     -------------
      Outstanding Balance at December 31, 2001           1,081,909          $6.43

      2002
      ----
      Granted                                              140,578          $5.70
      Canceled                                            (106,015)         $5.77
      Exercised                                            (16,500)         $5.38
                                                     -------------
      Outstanding Balance at December 31, 2002           1,099,972          $6.54
                                                     =============
</TABLE>

In December 1997, 200,000 non-plan options were granted to three senior
executives. These non-plan options were issued with an exercise price equal to
the market value of the stock at the date of grant. As of December 31, 2002,
110,000 of the December 1997 non-plan options were issued and outstanding. In
January 2000, an additional 90,000 non-plan options were granted to a senior
executive and were outstanding as of December 31, 2002. All such non-plan
options have a vesting period of three years and a life of seven years. All
non-plan options are included in the previously presented option table.

Options exercisable at December 31, 2002, 2001, and 2000 were 837,560, 785,410
and 705,399, respectively. Exercise prices for options outstanding as of
December 31, 2002 for the plan ranged from $3.63 to $8.875 per share. The
weighted average remaining term of the outstanding options is 3.13 years. As of
December 31, 2002, there were 432,145 shares available for grant under the 1997
Stock Incentive Plan.

The Company has 1,442,529 warrants issued and outstanding with a weighted
average exercise price of $8.79 as of December 31, 2002 and 2001. These warrants
are immediately exercisable.

At December 31, 2002, the Company has reserved an aggregate of 4,167,529 shares
of common stock for issuance upon the exercise or conversion of all outstanding
securities and the purchase of common stock under various stock purchase plans
(see Note 13).

                                      F-24

<PAGE>



                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


13.  Stock purchase plans

In May 2001, the Company's stockholders approved the adoption of the Opinion
Research Corporation Employee Stock Purchase Plan (the "Qualified Plan"), the
Opinion Research Corporation Stock Purchase Plan for Non-employee Directors and
Designated Employees and Consultants (the "Non-Qualified Plan"), and the ORC
Holdings, Ltd. Employee Share Ownership Plan (the "U.K. Plan"). The Company has
reserved, under the Qualified Plan, Non-Qualified Plan and the U.K. Plan,
500,000, 200,000 and 200,000 shares, respectively, of the Company's common stock
for future issuance. These plans allow eligible employees, non-employee
directors, and consultants who meet certain qualifications to purchase the
Company's common stock at 85% of the lower of the fair market value at the
beginning or end of each offering period. The following table summarizes the
shares issued under the various plans for the year ended December 31, 2002 and
2001, respectively:

                                                  December 31,
                                        ---------------------------------
                                             2002              2001
                                        ---------------    --------------

          Qualified Plan                     110,315           142,767
          Non-Qualified Plan                  30,187            63,664
          U.K. Plan                            9,615             8,380

As of December 31, 2002, approximately 246,918, 106,149, and 182,005 shares
remained available for future issuance under the Qualified Plan, Non-Qualified
Plan, and the U.K. Plan, respectively.

14. Split-dollar life insurance

The Company has entered into an agreement with a trust established in the name
of an officer of the Company. Under the agreement, the Company pays certain
premiums on the life insurance policy on the officer, to which the trust is the
beneficiary. The Company has been assigned certain rights to the assets of the
trust as collateral for the premium paid on this life insurance policy. The
amount paid by the Company for the premiums on this policy was $46 for years
ended December 31, 2002, 2001, and 2000.

The cumulative premiums paid of $324 are recorded in other assets in the
accompanying consolidated balance sheets. In the event the policy is terminated,
the officer has guaranteed the repayment of the amount due from his trust, and
has pledged certain of his personal assets to the Company to collateralize such
guarantee.

                                      F-25

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

15.  Segments

The Company identifies its segments based on the Company's geographic locations
and industries in which the Company operates. The Company currently has four
reportable segments: U.S. Market Research, U.K. Market Research, Teleservices,
and Social Research. The Company measures segment profits as operating profit,
which is defined as income before interest and other non-operating expenses and
income taxes. Information on segments and a reconciliation to the consolidated
total, are as follows:

<TABLE>
<CAPTION>
                                     U.S.Market   U.K. Market                   Social      Total
                                      Research     Research     Teleservices   Research   Segments    Other   Consolidated
--------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>          <C>           <C>            <C>        <C>         <C>     <C>
Year Ended December 31, 2002:
----------------------------

Revenues from external customers       $ 33,008       $18,988        $15,596   $105,464   $173,056    $2,204      $175,260
Depreciation and amortization             1,612           480            806      1,568      3,015       130         4,596
Goodwill impairment charge                5,938             -              -          -      5,938         -         5,938
Operating income (loss)                  (9,059)          604          2,408     10,266      4,219        66         4,285
Interest and other non-operating
 expenses, net                                                                                         4,784         4,784
Income (loss) before income taxes
 and cumulative effect of
 accounting change                                                                                                   ($499)
Total assets                           $ 19,272       $ 9,801        $19,427   $ 51,056   $ 99,556    $2,880      $102,436
Capital expenditures                   $    773       $   220        $   381       $885   $  2,259    $   75      $  2,334

Year Ended December 31, 2001:
----------------------------

Revenues from external customers       $ 41,271       $18,369        $18,466   $ 95,302   $173,408    $3,501      $176,909
Depreciation and amortization             2,427           721          2,164      2,954      8,266       165         8,431
Operating income (loss)                  (1,214)          935          2,401      7,357      9,479      (654)        8,825
Interest and other non-operating
 expenses, net                                                                                         5,413         5,413
Income before income taxes                                                                                        $  3,412
Total assets                           $ 30,348       $ 9,597        $20,220   $ 49,692   $109,857    $3,059      $112,916
Capital expenditures                   $  1,515       $   297        $   461   $  1,474   $  3,747    $  187      $  3,934

Year Ended December 31, 2000:
----------------------------

Revenues from external customers       $ 37,807       $16,956        $19,744   $ 83,011   $157,518    $3,391      $160,909
Depreciation and amortization             2,047           736          1,873      2,469      7,125       153         7,278
Operating income (loss)                   1,500           727          2,851      6,664     11,742       (90)       11,652
Interest and other non-operating
 expenses, net                                                                                         5,681         5,681
Income before income taxes                                                                                        $  5,971
Total assets                           $ 33,565       $ 9,369        $22,564   $ 48,010   $113,508    $2,449      $115,957
Capital expenditures                   $  1,573       $   297        $   651   $  1,744   $  4,265    $  175      $  4,440
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      F-26

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

15.  Segments (continued)

International long-lived assets are $4,927, $5,264 and $5,746 in 2002, 2001, and
2000, respectively. In 2002, 2001 and 2000, revenues from one customer of the
Company's Social Research segment represented $18,670, $18,980 and $21,623 of
the Company's total revenues, respectively. Revenues in the "Other" category
were generated from the Company's Asia and Mexico operations. As these segments
are not significant, results are not presented separately.

16.  Net income (loss) per share


The following table sets forth the computation of basic and diluted net income
(loss) per share:

<TABLE>
<CAPTION>
                                                                                Years Ended December 31,
                                                                        ---------------------------------------
                                                                           2002          2001           2000
<S>                                                                     <C>           <C>            <C>
Income (loss) before cumulative effect of accounting
  change                                                                   ($2,621)       $1,616         $3,304
Cumulative effect of accounting change                                        (292)            -              -
                                                                        ----------    ----------     ----------
Net income (loss)                                                          ($2,913)       $1,616         $3,304

Weighted average shares outstanding:
       Basic                                                                 5,949         5,762          4,692
       Effect of dilutive potential common shares                                -           230            361
                                                                        ----------    ----------     ----------
       Diluted                                                               5,949         5,992          5,053
                                                                        ==========    ==========     ==========

Net income (loss) per common share - basic:
    Income (loss) before cumulative effect of accounting
      change                                                                 ($.44)       $  .28         $  .70
    Cumulative effect of accounting change                                    (.05)            -              -
                                                                        ----------    ----------     ----------
Net income (loss) per common share - basic                                   ($.49)       $  .28         $  .70
                                                                        ==========    ==========     ==========

Net income (loss) per common share - diluted:
    Income (loss) before cumulative effect of accounting
      change                                                                 ($.44)       $  .27         $  .65
    Cumulative effect of accounting change                                    (.05)            -              -
                                                                        ----------    ----------     ----------
Net income (loss) per common share - diluted                                 ($.49)       $  .27         $  .65
                                                                        ==========    ==========     ==========
</TABLE>

Options and warrants to purchase 94,328 shares of common stock have not been
included in the computation of diluted net income (loss) per share for the year
ended December 31, 2002 as their effect would have been anti-dilutive.

                                      F-27

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

17.  Selected quarterly financial information (unaudited)

<TABLE>
<CAPTION>
                                               Fourth        Third        Second        First
                                               Quarter      Quarter       Quarter      Quarter
                                              ---------    ---------     ---------    ---------
<S>                                           <C>          <C>           <C>          <C>
2002
----
Revenues                                      $ 44,691      $43,341       $44,777      $42,451
Gross profit                                  $ 13,734      $13,394       $14,120      $13,307
Goodwill impairment charge                     ($5,938)
Income (loss) before cumulative
  effect of accounting change                  ($5,278)     $   891       $   977      $   789
Cumulative effect of accounting
  change                                             -            -             -        ($292)
Net income (loss)                              ($5,278)     $   891       $   977      $   497

Income (loss) before cumulative
  effect of accounting change per
  common share:
    Basic                                        ($.88)     $   .15       $   .16      $   .13
    Diluted                                      ($.88)     $   .15       $   .16      $   .08

Net income (loss) per common share:
    Basic                                        ($.88)     $   .15       $   .16      $   .13
    Diluted                                      ($.88)     $   .15       $   .16      $   .08

Weighted average shares outstanding:
    Basic                                        6,007        5,971         5,939        5,896
    Diluted                                      6,007        6,019         6,121        6,004

2001
----
Revenues                                      $ 43,972      $41,943       $45,159      $45,835
Gross profit                                  $ 13,209      $13,042       $14,148      $14,985
Net income                                    $    188      $     5       $   354      $ 1,069
Net income per common share:
    Basic                                     $   0.03      $  0.00       $  0.06      $  0.19
    Diluted                                   $   0.03      $  0.00       $  0.06      $  0.18

Weighted average shares outstanding:
    Basic                                        5,842        5,795         5,742        5,668
    Diluted                                      5,901        5,977         6,105        5,981
</TABLE>

                                      F-28

<PAGE>

                 OPINION RESEARCH CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

18.  Interest rate instruments

At December 31, 2000, the Company had an interest rate cap agreement outstanding
for a notional amount of $3,000. This agreement expired in January 2001. The
Company does not currently utilize any interest rate derivative financial
instruments.

19.  Joint Venture

The Company entered into a joint venture agreement during 2001 for the purpose
of developing new research-based products. In 2002, the Company contributed
$1,085 in services and cash and, since inception, has contributed an aggregate
of $1,155. All amounts funded to date have been expensed except for an
investment of $79 in the joint venture which is included in other current assets
in the Company's consolidated balance sheet.

                                      F-29

<PAGE>

                 Schedule II - Valuation and Qualifying Accounts
                  OPINION RESEARCH CORPORATION AND SUBSIDIARIES
                            (in Thousands of Dollars)


Rule 12-09.  Valuation and Qualifying Accounts

<TABLE>
<CAPTION>
                                                                   Additions
                                                       ------------------------------
                                         Balance at     Charged to        Charged to                         Balance
                Description              beginning        costs        other accounts    Deductions -         at end
                                         of period     and expenses      - describe        describe         of period
---------------------------------------------------------------------------------------------------------------------
<S>                                    <C>             <C>                <C>              <C>                 <C>
Year ended December 31, 2002:
  Deducted from asset account:
     Allowance for Doubtful Accounts     $      284    $        211                      $        147 (1)   $     348
     Accumulated Amortization:
       Goodwill                              10,519               -                            10,519 (4)           -
       Intangible Assets                      6,231             986                             1,362 (5)       5,855
                                         ----------    ------------                      ------------       ---------
     Totals                              $   17,034    $      1,197                      $     12,028       $   6,203
                                         ==========    ============                      ============       =========

Year ended December 31, 2001:
  Deducted from asset account:
     Allowance for Doubtful Accounts     $      246    $        148                      $        110 (1)   $     284
     Accumulated Amortization:
       Goodwill                               7,131           3,388                                            10,519
       Intangible Assets                      4,853           1,378                                             6,231
                                         ----------    ------------                      ------------       ---------
     Totals                              $   12,230    $      4,914                      $        110       $  17,034
                                         ==========    ============                      ============       =========

Year ended December 31, 2000:
  Deducted from asset account:
     Allowance for Doubtful Accounts     $      259    $          -                      $         13 (1)   $     246
     Accumulated Amortization:
       Capitalized Production Costs           1,076               -                             1,076 (2)           -
       Goodwill                               4,657           2,604                               130 (3)       7,131
       Intangible Assets                      3,805           1,048                                             4,853
                                         ----------    ------------                      ------------       ---------
     Totals                              $    9,797    $      3,652                      $      1,219       $  12,230
                                         ==========    ============                      ============       =========
</TABLE>

(1)  Uncollectible accounts written-off
(2)  Fully amortized asset written-off
(3)  Adjustment of original goodwill amount for certain acquisitions
(4)  Per Statement 142, "Goodwill and Other Intangible Assets", effective
     January 1, 2003, goodwill is no longer amortized. Accordingly, the
     accumulated amortization has been netted against the goodwill amount.
(5)  Amount was written-off due to reclassification of workforce and
     unidentifiable intangibles to goodwill per Statement 142.

                                      S-1

<PAGE>

                          OPINION RESEARCH CORPORATION


                           Annual Report on Form 10-K


                                  EXHIBIT INDEX

Exhibit No.

     3.1        Amended and Restated Certificate of Incorporation of the
                Registrant - Incorporated by reference to Exhibit 3.1 to the
                Registrant's Registration Statement on Form S-1 (No. 33-68428)
                filed with the Securities and Exchange Commission on September
                3, 1993 (the "Form S-1").

     3.2        Amended and Restated By-Laws of the Registrant - Incorporated by
                reference to Exhibit 3.2 to the Form S-1.

     4.1        Rights Agreement, dated September 13, 1996, between the
                Registrant and StockTrans, Inc. - Incorporated by reference to
                Exhibit 1 to the Registrant's Registration Statement on Form
                8-A, filed with the Securities and Exchange Commission on
                September 27, 1996.

     4.2        Amendment to Rights Agreement dated August 8, 1998 -
                Incorporated by reference to Exhibit 4.1 to the Registrant's
                Annual Report on Form 10-K for the year ended December 31, 1998
                (the "1998 10-K").

     4.3        Amendment No. 2 to Rights Agreement dated September 1, 2001 -
                Incorporated by reference to Exhibit 10.11 to the Registrant's
                Current Report on Form 8-K filed with the Securities and
                Exchange Commission on September 15, 2000 (the "2000 8-K").

     4.4        Opinion Research Corporation Designation of Series B Preferred
                Stock - Incorporated by reference to Exhibit 4.1 to the 2000
                8-K.

     4.5        Opinion Research Corporation Designation of Series C Preferred
                Stock - Incorporated by reference to Exhibit 4.2 to the 2000
                8-K.

   *10.1        Employment Agreement between the Registrant and John F. Short -
                Incorporated by reference to Exhibit 10.12 to Registrant's
                Quarterly Report on Form 10-Q for the quarter ended June 30,
                1999 (the "1999 10-Q").

   *10.2        Employment Agreement between the Registrant and Douglas L. Cox
                dated January 23, 2002 - Incorporated by reference to Exhibit
                10.2 to the Registrant's

<PAGE>

                Annual Report on Form 10-K for the year ended December 31, 2001
                (the "2001 10-K").

   *10.3        Employment Agreement between the Registrant and Frank J. Quirk
                dated January 25, 2002 - Incorporated by reference to Exhibit
                10.2 to the 2001 10-K.

   *10.4        Employment Agreement between the Registrant and James C. Fink
                dated January 28, 2002.

   *10.5        Employment Agreement between the Registrant and Kevin P. Croke
                dated January 23, 2002.

   *10.6        Employment Agreement between ORC International Ltd. and Nigel M.
                Maxfield dated January 25, 2002.

   *10.7        Employment Agreement among Opinion Research Corporation, ORC
                ProTel Inc., and Ruth R. Wolf dated January 1, 1998 -
                Incorporated by reference to Exhibit 10.7 to the Registrant's
                Annual Report on Form 10-K for the year ended December 31, 1999
                (the "1999 10-K").

   *10.8        Employment Agreement between Macro International Inc. and
                Michael T. Errecart dated May 20, 1999 - Incorporated by
                reference to Exhibit 10.2 to the Registrant's Current Report on
                Form 8-K filed with the Securities and Exchange Commission on
                June 9, 1999.

   *10.9        Employment Agreement among Opinion Research Corporation, ORC
                Consumer, Inc. and Terence W. Cotter dated August 31, 2000 -
                Incorporated by reference to Exhibit 10.1 to the 2000 8-K.

   *10.10       Employment Agreement between Macro International Inc. and Lewis
                D. Eigen dated October 31, 2001 - Incorporated by reference to
                Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q
                for the quarter ended September 30, 2000.

   *10.11       1997 Stock Incentive Plan - Incorporated by reference to Exhibit
                10.7 to the Registrant's Annual Report on Form 10-K for the year
                ended December 31, 1997.

   *10.12       Amendment to the 1997 Stock Incentive Plan - Incorporated by
                reference to Exhibit 10.2 to the Registrant's Quarterly Report
                on Form 10-Q for the quarter ended September 30, 2001 (the "2001
                10-Q").

   *10.13       Opinion Research Corporation Employee Stock Purchase Plan -
                Incorporated by reference to Exhibit 4 to the Registrant's
                Registration Statement on Form S-8, filed with the Securities
                and Exchange Commission on September 8, 2000.

<PAGE>

   *10.14       Opinion Research Corporation Stock Purchase Plan for
                Non-employee Directors and Designated Employees and Consultants
                - Incorporated by reference to Exhibit 4 to the Registrant's
                Registration Statement on Form S-8, filed with the Securities
                and Exchange Commission on September 25, 2000.

    10.15       Lease Agreement dated May 24, 1993 between the Registrant and
                Computer Associates International, Inc. (for Princeton facility)
                - Incorporated by reference to Exhibit 10.16 to the Form S-1.

    10.16       Lease dated August 27, 1993 between Carrollton Enterprises
                Associates Limited Partnership and Macro International, Inc. -
                Incorporated by reference to Exhibit 10.14 to the 1999 10-K.

    10.17       Lease and Lease Addendum dated February 24, 1995 between North
                Bethesda Associates Limited Partnership and Social & Health
                Services, Ltd. - Incorporated by reference to Exhibit 10.15 to
                the Registrant's Annual Report on Form 10-K for the year ended
                December 31, 2000 (the "2000 10-K").

    10.18       First Amendment to Lease dated January 1, 1999 and Second
                Amendment to Lease dated September 15, 1999, between Bethesda
                Properties, L.L.C. and Social & Health Services, Ltd. -
                Incorporated by reference to Exhibit 10.16 to the 2000 10-K.

    10.19       Asset Purchase Agreement dated August 31, 2000 among the
                Registrant, ORC Consumer Inc., C/J Research, Inc. and the
                Stockholders of C/J Research, Inc. - Incorporated by reference
                to Exhibit 2.1 to the 2000 8-K.

    10.20       Stock Purchase Agreement dated October 31, 2000 among Macro
                International Inc., Opinion Research Corporation, and Lewis D.
                Eigen and Ramona E.F. Arnett - Incorporated by reference to
                Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q
                for the quarter ended September 30, 2000.

    10.21       Consent and Ninth Amendment to Credit Agreement dated February
                10, 2003 among Opinion Research Corporation, ORC Inc., and
                Heller Financial, Inc.

    10.22       Eighth Amendment to Credit Agreement dated September 29, 2002
                among Opinion Research Corporation, ORC Inc., and Heller
                Financial, Inc. - Incorporated by reference to Exhibit 10.1 to
                the Registrant's Quarterly Report on Form 10-Q for the quarter
                ended September 30, 2002 ("2002 10-Q")

    10.23       Seventh Amendment to Credit Agreement dated March 19, 2002 among
                Opinion Research Corporation, ORC Inc., and Heller Financial,
                Inc.

<PAGE>

    10.24       Sixth Amendment to Credit Agreement and Amendment to Security
                Documents dated November 30, 2001 between Opinion Research
                Corporation and ORC Inc., and Heller Financial, Inc.

    10.25       Waiver and Fifth Amendment to Credit Agreement dated October 4,
                2001 among Opinion Research Corporation, ORC Inc., and Heller
                Financial, Inc. - Incorporated by reference to Exhibit 10.1 to
                the 2001 10-Q.

    10.26       Fourth Amendment to Credit Agreement dated October 1, 2001 among
                Opinion Research Corporation, ORC Inc., and Heller Financial,
                Inc.

    10.27       Third Amendment to Credit Agreement dated December 18, 2000
                between Opinion Research Corporation and ORC Inc., and Heller
                Financial, Inc.

    10.28       Credit Agreement dated May 26, 1999 among Opinion Research
                Corporation, ORC Inc., and Heller Financial, Inc. - Incorporated
                by reference to Exhibit 10.1 to the 1999 10-Q.

    10.29       Security Agreement dated May 26, 1999 among Opinion Research
                Corporation, ORC Inc., and Heller Financial, Inc. - Incorporated
                by reference to Exhibit 10.2 to the 1999 10-Q.

    10.30       Fourth Amendment to Investment Agreement dated February 12, 2003
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation.

    10.31       Third Amendment to Investment Agreement dated September 29, 2002
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation. - Incorporated by
                reference to Exhibit 10.5 to the 1999 10-Q.

    10.32       Second Amendment to Investment Agreement dated March 19, 2002
                between Opinion Research Corporation and Allied Capital
                Corporation and Allied Investment Corporation.

    10.33       Investment Agreement dated May 26, 1999 among Opinion Research
                Corporation, Allied Investment Corporation, and Allied Capital
                Corporation. - Incorporated by reference to Exhibit 10.5 to the
                1999 10-Q.

    10.34       Allonge to Debenture for $9.5 million dated February 11, 2003
                issued by Opinion Research Corporation to Allied Capital
                Corporation.

    10.35       Allonge to Debenture for $5.5 million dated February 11, 2003
                issued by Opinion Research Corporation to Allied Investment
                Corporation.

<PAGE>

    10.36       Subordinated Debenture for $9.5 million dated May 26, 1999
                issued by Opinion Research Corporation to Allied Capital
                Corporation - Incorporated by reference to Exhibit 10.7 to the
                1999 10-Q.

    10.37       Subordinated Debenture for $5.5 million dated May 26, 1999
                issued by Opinion Research Corporation to Allied Investment
                Corporation - Incorporated by reference to Exhibit 10.8 to the
                1999 10-Q.

    10.38       Registration Rights Agreement dated May 26, 1999 among Opinion
                Research Corporation, Allied Capital Corporation and Allied
                Investment Corporation - Incorporated by reference to Exhibit
                10.9 to the 1999 10-Q.

    10.39       Amendment No.1 to Registration Rights Agreement dated September
                1, 2000 among Opinion Research Corporation, Allied Capital
                Corporation and Allied Investment Corporation - Incorporated by
                reference to Exhibit 10.12 to the 2000 8-K.

    10.40       Common Stock Warrant Issued by Opinion Research Corporation to
                Allied Capital Corporation dated May 26, 1999 - Incorporated by
                reference to Exhibit 10.10 to the 1999 10-Q.

    10.41       Common Stock Warrant Issued by Opinion Research Corporation to
                Allied Investment Corporation dated May 26, 1999 - Incorporated
                by reference to Exhibit 10.11 to the 1999 10-Q.

    10.42       Purchase Agreement dated September 1, 2000 among Opinion
                Research Corporation, LLR Equity Partners, L.P. and LLR Equity
                Partners Parallel, L.P. - Incorporated by reference to Exhibit
                10.5 to the 2000 8-K.

    10.43       Registration Rights Agreement dated September 1, 2000 among
                Opinion Research Corporation, LLR Equity Partners, L.P. and LLR
                Equity Partners Parallel, L.P. - Incorporated by reference to
                Exhibit 10.6 to the 2000 8-K.

    10.44       Common Stock Warrant Issued by Opinion Research Corporation to
                LLR Equity Partners, L.P. dated September 1, 2000 - Incorporated
                by reference to Exhibit 10.7 to the 2000 8-K.

    10.45       Common Stock Warrant Issued by Opinion Research Corporation to
                LLR Equity Partners Parallel, L.P. dated September 1, 2000 -
                Incorporated by reference to Exhibit 10.8 to the 2000 8-K.

    10.46       Anti-Dilution Common Stock Warrant Issued by Opinion Research
                Corporation to LLR Equity Partners, L.P. dated September 1, 2000
                - Incorporated by reference to Exhibit 10.9 to the 2000 8-K.

<PAGE>

    10.47       Anti-Dilution Common Stock Warrant Issued by Opinion Research
                Corporation to LLR Equity Partners Parallel, L.P. dated
                September 1, 2000 - Incorporated by reference to Exhibit 10.10
                to the 2000 8-K.

    21          Subsidiaries of the Registrant.

    23          Consent of Ernst & Young LLP.


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

*    Constitutes a compensatory plan or arrangement required to be filed as an
     exhibit to this report