Revised Forecast of Subsid.

Konami Corporation
16 April 2003


FOR IMMEDIATE RELEASE

                                                                  April 16, 2003


                                                              KONAMI CORPORATION

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

                                                                 Kagemasa Kozuki

                                                   Chairman of the Board and CEO

                                                             Ticker 9766 at TSE1

                                                      Contact: Noriaki Yamaguchi

                                                Executive Vice President and CFO

                                                            Tel: [phone]



Subsidiary's Revised Forecast of Japanese GAAP Earnings and Dividends

                    for the Fiscal Year Ended March 31, 2003

                  (Konami Computer Entertainment Japan, Inc.)



Konami Corporation hereby announces that its subsidiary, Konami Computer
Entertainment Japan, Inc. (the 'Company'), has revised its Japanese GAAP
earnings forecast and dividend forecast for the fiscal year ended March 31, 2003
previously released on March 4, 2003.


1.       Earnings forecast for the fiscal year ended March 31, 2003 (April 1,
2002 to March 31, 2003)


                                        (Millions of yen, except per share data)
                                                              Year-end dividend 
                                                                 per share (yen)
                             Ordinary income
             Net revenues                       Net income
Previous             7,200              2,850         1,700                60.00
forecast (A)

(March 4,
2003)
Revised              7,974              3,556         2,082                74.00
forecast (B)

(April 16,
2003)
Change (B)-            774                706           382                14.00
(A)
Change                10.8%              24.8%         22.5%                   -
(Percentage)

Notes:

     1.       Ordinary income includes certain non-operating income and expenses 
              such as interest and excludes non-recurring items.

     2.       There was no payment of an interim cash dividend.


2.       Reasons for the revision


Sales of the Yu-Gi-Oh! video game series for the fiscal year ended March 31,
2003 are expected to reach more than 5.9 million copies with
greater-than-expected sales primarily in overseas markets. Sales of the Metal
Gear Solid video game series including Metal Gear Solid 2: Substance, which were
launched last autumn, are also expected to be higher than the previously
projected sales due primarily to favorable sales in overseas markets. As a
result, the Company's total sales of video game software during the fiscal
year are expected to be more than 9.5 million copies.

Accordingly, the Company decided to revise its net revenues, ordinary income and
net income forecasts upwards as shown above, and the Company expects to post
record profits.

According to the Company's policy that set a goal for cash dividends
equivalent to 50% of net income, the expected year-end dividend per share for
the fiscal year ended March 31, 2003 has also been revised from 60 yen to 74
yen.




3.       Reference: Results for the fiscal year ended March 31, 2002 (April 1,
2001 to March 31, 2002)


                                        (Millions of yen, except per share data)
                                                               Year-end dividend 
                                                                 per share (yen)
                        Ordinary income
        Net revenues                       Net income
Results
for the
year
ended           9,054              3,486         1,873                     78.00
March
31,
2002

Notes:

     1.       Year-end dividend per share of 78 yen included 20 yen of memorial
              dividend for the Company's initial public offering.

     2.       There was no payment of an interim cash dividend.



Cautionary Statement with Respect to Forward-Looking Statements:


The forecasts presented herein are forward looking statements within the meaning
of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S.
Securities Exchange Act of 1934. The forecasts announced by the Company on March
4, 2003 represented the Company's beliefs and assumptions about future events
based on the information available to it at that time, and were subject to risks
and uncertainties that could cause actual results to differ, possibly
materially, from the results anticipated in the forecasts. The Company is
currently in the process of reviewing its results for the fiscal year ended
March 31, 2003 and expects to announce its actual results for the fiscal year on
or about May 22, 2003. Factors other than the factors described herein that
could cause the Company's actual results to differ from the results forecast
in this press release include, but are not limited to: (i) changes in economic
conditions affecting the Company's operations; (ii) fluctuations in currency
exchange rates, particularly with respect to the value of the Japanese yen, the
U.S. dollar and the Euro; (iii) the Company's ability to continue to win
acceptance of its products, which are offered in highly competitive markets
characterized by the continuous introduction of new products, rapid developments
in technology and subjective and changing consumer preferences; (iv) the
Company's ability to successfully expand internationally; (v) regulatory
developments and changes and the Company's ability to respond and adapt to
those changes; and (vi) the outcome of contingencies.






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