Announcement on Stock Options

Konami Corporation
19 May 2005


FOR IMMEDIATE RELEASE

                                                                  May 19, 2005

                                                              KONAMI CORPORATION

                                      2-4-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

                                                                 Kagemasa Kozuki

                                                 Representative Director and CEO

                                                 Stock code number: 9766 at TSE1

                                                          Contact: Naoyuki Notsu

               Corporate Officer and Division President, Administration Division

                                                            Tel: [phone]


                            Announcement of Konami Corporation
                         on Stock Options (Stock Acquisition Rights)


KONAMI CORPORATION ('Konami') announced today that, pursuant to a resolution adopted at Konami's Board of Directors'
meeting held on May 19, 2005, Konami will include the additional plan mentioned below in its proposal to be submitted
to the 33rd Annual General Meeting of Shareholders to be held on June 23, 2005 to issue stock acquisition rights as
stock options (the 'Stock Acquisition Right(s)'), as resolved at Konami's Board of Directors' meeting held on May 10,
2005, pursuant to Articles 280-20 and 280-21 of the Japanese Commercial Code.


1. Reason for Issuing Stock Acquisition Rights upon Especially Favorable Terms

In order to maintain appropriate incentives for excellent personnel to maximize its corporate value, Konami
is granting Stock Acquisition Rights to directors and employees of Konami, its subsidiaries and its
affiliated companies as described below.


2. Summary of the Issuance of Stock Acquisition Rights pursuant to Plan I

(1)    Persons to whom Stock Acquisition Rights shall be allocated:

Directors and employees of Konami, its subsidiaries and its affiliated companies



(2)    Type and Number of Shares to be issued under Stock Acquisition Rights:
Up to 1,150,00 shares of common stock of Konami
In the event of adjustment of the allotted number of shares in accordance with item (3) below, the number of shares to
be issued under the Stock Acquisition Rights above shall also be adjusted accordingly.



(3)    Number of Stock Acquisition Rights to be Issued: Up to 11,500

The number of shares to be issued upon exercise of each Stock Acquisition Right shall be 100; provided, that when
Konami splits or consolidates its shares of common stock, the number of shares to be issued upon exercise of each Stock
Acquisition Right shall be adjusted according to the following formula:


             Number of shares after       =     Number of shares before     x       Ratio of split or
             adjustment                               adjustment                      consolidation



In addition, the number of shares to be issued upon exercise of each Stock Acquisition Right shall be appropriately
adjusted to the necessary and reasonable extent in the event of a merger, company split or capital reduction of Konami
and in any other similar case where an adjustment of the number of shares to be issued upon exercise of each Stock
Acquisition Right shall be required.
Any fraction less than one (1) share resulting from this adjustment shall be disregarded.



(4)    Issue Price of Stock Acquisition Rights: None



(5)    Amount to be Paid upon Exercise of Stock Acquisition Rights:

The amount to be paid upon exercise of Stock Acquisition Rights shall be the amount of the acquisition price per share
(the 'Exercise Price') multiplied by the allotted number of shares.

The Exercise Price shall be equal to 1.20 times the daily average closing price (excluding trading days on which no
transactions occur) in the month prior to the issue date (the 'Issue date') of the Stock Acquisition Right(s) of the
common stock of Konami in a normal transaction on the Tokyo Stock Exchange. Any fraction less than one (1) yen shall be
rounded up to the nearest yen. If the amount is less than that of the closing price on the Issue Date (if there are no
transactions on that date, the last closing price on the prior trading day shall be applicable), the closing price
shall be the Exercise Price.



In the event of split or consolidation Konami's shares of common stock, the Exercise Price shall be adjusted according
to the following formula, and any fraction less than one (1) yen shall be rounded up to the nearest yen.


             Adjusted Exercise Price      =      Exercise Price before      x               1
                                                      adjustment                    Ratio of split or
                                                                                      consolidation


In the event of issuance of new shares of common stock or disposition of treasury stock at a price less than the market
price thereof (excluding issuance or disposition as a result of exercise of Stock Acquisition Rights), the Exercise
Price shall be adjusted in accordance with the following formula and any fraction less than one (1) yen resulting from
such adjustment shall be rounded up to the nearest yen:


              Adjusted Exercise   =   Exercise Price   x      Number of      +   Number of Newly   x  Paid-in Value Per
                    Price                 before          Previously Issued       Issued Shares             Share
                                        Adjustment             Shares                        Market Price
                                                          Number of previously issued   +            Number of
                                                                     Shares                     Newly Issued Shares



In the formula above, the Number of Previously Issued Shares shall mean the number of shares of common stock issued and
outstanding less the number of treasury stock held by Konami.  In the event of disposition of treasury stock held by
Konami, the Number of Newly Issued Shares shall be read as the Number of the Shares to be Disposed.



Furthermore, in the event of a merger, company split or capital reduction of Konami and in any other similar case where
the adjustment of the Exercise Price shall be required, the Exercise Price shall be adjusted appropriately to the
necessary and reasonable extent.



(6)    Exercise Period of Stock Acquisition Rights:



From July 1, 2007 to June 30, 2009.  The Period will be decided by the Board of Directors.



(7)    Conditions for Exercise of Stock Acquisition Rights:


(i)       Each Stock Acquisition Right may not be partly exercised; and

(ii)      Other conditions for exercise of Stock Acquisition Rights shall be determined by  resolution of the
          board of directors of Konami.



(8)    Events and Conditions for Cancellation of Stock Acquisition Rights:
Konami may, at any time, cancel the Stock Acquisition Rights without any compensation when Konami has acquired and
holds the unexercised Stock Acquisition Rights.



(9)    Restrictions on Assignment of Stock Acquisition Rights:

Approval of the board of directors of Konami shall be required for assignment of the Stock Acquisition Rights.



*The statements above shall be subject to shareholder approval of the resolution
at the 33rd Annual General Meeting of Shareholders to be held on June 23, 2005.


                                     -End-



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