EXHIBIT I


                                                     April 15, 1996





Mr. David Nussbaum
GKN Securities Corp.
61 Broadway, 12th Floor
New York, New York  10006

Mr. Scot Rosenblum
Individual Investor Group, Inc.
1633 Broadway, 38th Floor
New York, New York  10019

Dear David and Scot:

                  I  have  agreed  to  guarantee  a  credit  facility  of  up to
$3,000,000  being  established  by  Republic  National  Bank  in  favor  of Wise
Partners,  L.P.,  a  Delaware  limited  partnership  of  which I am the  general
partner,  and to pledge the Common Stock of Individual Investor Group, Inc. that
I own to secure such guarantee.  If you may recall,  my stock is already subject
to a pledge to Republic  National  Bank to secure a $1,000,000  personal  credit
facility.

                  The Common Stock of Individual  Investor  Group,  Inc. which I
presently own is still subject to my "lock-up"  agreement dated December 4, 1991
among GKN Securities Corp., the Company and myself ("Lock-Up  Agreement").  This
Lock-Up  Agreement  was  previously  modified to permit me to pledge my stock to
secure my personal credit facility.  I request a further  modification to permit
my pledge of Common Stock to secure the partnership's credit facility.

                  This letter will serve to modify the Lock-Up Agreement so that
I may pledge to Republic National Bank under the terms of my guarantee, and I or
Republic National Bank may offer, sell, transfer or otherwise dispose, from time
to time, in the public  market or privately,  any shares of Common Stock which I
am the  beneficial  owner  solely to repay any amount or amounts that may be due
Republic National Bank under either credit facility, all of which offers,






Mr. David Nussbaum
Mr. Scott Rosenblum
April 15, 1996
Page 2



sales, transfers or dispositions may be made without notice to or consent of GKN
Securities  Corp.  The right to offer,  sell,  transfer or dispose of any Common
Stock pursuant to this  modification is in addition to any other right I have to
sell securities of the Company pursuant to the Lock-Up Agreement.

                  If you are in agreement with this modification, please sign in
the space  provided  below to  acknowledge  your consent and return the executed
copy to me.

                                                     Sincerely,



                                                     Jonathan L. Steinberg



ACKNOWLEDGED AND AGREED to this
15th day of April, 1996


GKN SECURITIES CORP.



By:________________________________
   David Nussbaum, Chairman


INDIVIDUAL INVESTOR GROUP, INC.



By:_________________________________
   Scot Rosenblum, Vice President