Subsidiary's Revised Forecast

Konami Corporation
22 March 2005


FOR IMMEDIATE RELEASE      March 18, 2005
                           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]


               Revised Forecasts of Japanese GAAP Earnings

                    for the Year Ending March 31, 2005

              (Konami Computer Entertainment Studios, Inc.)


Konami Corporation hereby announces that its subsidiary, Konami Computer
Entertainment Studios, Inc. (the 'Company') revised its Japanese GAAP earnings
forecasts for the fiscal year ending March 31, 2005 ('fiscal 2005'), which were
originally released in its Summary of Unconsolidated Results for the Six Months
Ended September 30, 2004 on November 9, 2004.

1. Revised earnings forecasts for fiscal 2005 (from April 1, 2004 to March 31, 2005)

                                                                                (Millions of yen)
                                          Net Revenues         Ordinary Income        Net Income
Previous forecasts (A)                           10,790                 1,036                 448
Revised forecasts (B)                             8,147                   143                   2
Change (B)-(A)                                  (2,643)                 (893)               (446)
Change (Percentage)                             (24.5)%               (86.2)%             (99.6)%
Financial results for the fiscal                  9,549                   941                 448
year ended March 31, 2004


2. Reasons for the revision

During fiscal 2005, sales of the animation series such as the TEENAGE MUTANT
NINJA TURTLES series, KOROKKE! for Game Boy Advance and WAGAMAMA FAIRY MIRUMO DE
PON! for Game Boy Advance remained at a low level and we changed the release
date of PROYAKYU SPIRITS 2 from March to the beginning of April to improve the
quality of the content. As a result, net revenues, ordinary income and net
income are expected to underrun our previous forecasts for fiscal 2005, and the
Company revised its earnings forecasts downwards as shown above.

3. Cash paid due to merger

The Company announced that Konami would pay 8 yen per share of the Company due
to merger. However, we decided we would not pay any amount for exchange share
after consultation within the subject companies. The amount of cash paid may be
finally decided due to the financial results fixed in the end of April, 2005 and
it is computed based on the figures of 50 % of net income less interim dividend.

Cautionary Statement with Respect to Forward-Looking Statements:



Statements made in this press release with respect to the Company's current
plans, estimates, strategies and beliefs, including the above forecasts
regarding the Company's earnings and dividend for fiscal 2005 are forward-
looking statements about the future performance of the Company. These statements
are based on management's assumptions and beliefs in light of information
currently available to it and, therefore, you should not place undue reliance on
them. A number of important factors could cause actual results to be materially
different from and worse than those discussed in forward-looking statements.
Such factors include, but are not limited to: (i) changes in economic conditions
affecting our 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) our ability to continue to win acceptance of our 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) our ability to successfully expand
internationally with a focus on our video game software business; (v) regulatory
developments and changes and our ability to respond and adapt to those changes;
and (vi) the outcome of contingencies.








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