EXHIBIT 4I AMENDMENT TO INVESTORS' RIGHTS AGREEMENT Section 1.2(b) of the Investors' Rights Agreement, dated April 26, 2002, by and among CONCEPTS DIRECT, INC., a Delaware corporation, ST. CLOUD CAPITAL PARTNERS, LP, a Delaware limited partnership,...

                                              EXHIBIT 4I

               AMENDMENT TO INVESTORS' RIGHTS AGREEMENT

     Section 1.2(b) of the Investors' Rights Agreement, dated
April 26, 2002, by and among CONCEPTS DIRECT, INC., a Delaware
corporation, ST. CLOUD CAPITAL PARTNERS, LP, a Delaware limited
partnership, XXXXXXX X. XXXXXX, an individual, and XXXXX X.
XXXXXX, an individual, is hereby amended to read as follows:

     (b)  Mandatory Registration.  In addition to the foregoing,
     the Company shall prepare and file with the SEC prior to
     February 15, 2003, a Registration Statement or Registration
     Statements (as necessary) covering all of the Holder's
     Registrable Securities.  The Company shall cause such
     Registration Statement to be declared effective by the SEC by
     May 15, 2003.

The parties have executed this Amendment to Investors' Rights
Agreement as of January 3, 2003.

                                 CONCEPTS DIRECT, INC.


                                 By:  /s/ Xxxx X. Xxxxxx
                                 Name:  Xxxx X. Xxxxxx
                                 Title:  Chief Financial Officer

                                 ST. CLOUD CAPITAL PARTNERS, LP


                                 By:  /s/ Xxxx X. Xxxxxxx
                                 Name:  Xxxx X. Xxxxxxx
                                 Title:  Senior Managing Director

                                 XXXXXXX X. XXXXXX


                                 By: /s/ Xxxxxxx X. Xxxxxx
                                 Xxxxxxx X. Xxxxxx

                                 XXXXX X. XXXXXX


                                 By: /s/ Xxxxx X. Xxxxxx
                                 Xxxxx X. Xxxxxx