Acquisition

Konami Corporation
20 February 2001

February 20, 2001

KONAMI CORPORATION

4-3-1 Toranomon Minato-ku

Tokyo 105-6021 Japan

Kagemasa Kozuki,

Representative Director, Chairman of the Board and CEO

Ticker 9766 at TSE1

Inquiry: KONAMI Finance Div

TEL [phone]


                Announcement of Acquisition of PEOPLE CO.,LTD.


The board meeting of KONAMI CORPORATION ('KONAMI') decided on January 29,
2001, to acquire up to approximately 60% shares of PEOPLE CO.,LTD ('PEOPLE')
by tender offer ('TOB'), and started the TOB on January 30. On February 19, as
a result of the TOB, the acquisition of People by KONAMI will happen. The
followings are the summary of the result.




1. Purpose of TOB

KONAMI plans to strengthen and expand its Health Entertainment Business by
acquiring shares of PEOPLE by TOB.


2. Outline of TOB (as of August 31, 2000)

(1) Trade Name: PEOPLE CO.,LTD

(2) Representative: Satoru Ishihara, Representative Director and President

(3) Address: 3-4-12 Ginza Chuou-ku Tokyo

(4) Establishment: March 14, 1973

(5) Main Businesses: Operations of fitness clubs, swimming schools, etc.

(6) Fiscal Year End: End of February

(7) Number of the Employees: 880

(8) Common Stock: 5,040,950,000 Yen

(9) Outstanding Shares: 18,860,512

(10) Major Shareholders: MYCAL FINANCE CORPORATION (53.25%), K & K (5%)

(11) Recent Consolidated Financial Performances




               Fiscal Year ending on Last Day   Fiscal Year ending on Last Day
                      of February 1999                 of February 2000
 
 Revenue           47,683 million yen               52,872 million yen
 Operation Profit   3,742 million yen                5,154 million yen
 Ordinary           3,474 million yen                5,041 million yen
  Earnings
 Net Income         1,718 million yen                2,340 million yen
 Asset             30,551 million yen               33,036 million yen
 Shareholders      15,915 million yen               18,239 million yen
   Equity
Dividend per                20.00 yen                        25.00 Yen
    Share

(12) Relationship with KONAMI


    Financial No

    Personal No

    Trade Alliance in Health Entertainment Business

3. Method of the acquisition
    TOB


4. Change of the number of shares owned by the acquirer


    (1) Before the TOB 0 (Share 0.00%)

    (2) Acquired number of the stock 10,305,161 (Value: 69,044,578,700 yen)

    (3) After the TOB 10,305,161 (Share 54.64%)

5. Schedule

January 29, 2001: The board decision of the TOB

January 30, 2001 to February 19, 2001: TOB Period

February 23, 2001: Commencement date of the settlement


6. Perspective after the TOB

After the TOB, KONAMI CORPORATION will participate in the management of PEOPLE
by sending its directors and employees to the company.

There is no change in the consolidated financial result for this fiscal year.

Following the acquisition and consolidation of PEOPLE, we plan an announcement
on our future business strategy on March 1.