Corporate Split

Konami Corporation
20 November 2002


FOR IMMEDIATE RELEASE


                                                                                                     November 20, 2002

                                                                                                     KONAMI CORPORATION
                                                                               2-4-1 Marunouchi Chiyoda-ku Tokyo, Japan
                                                                                                        Kagemasa Kozuki
                                                                                        Representative Director and CEO
                                                                                                    Ticker 9766 at TSE1
                                                                                                Contact: Toshiro Tateno
                                                                               Director and Executive Corporate Officer
                                                                                            Corporate Planning Division
                                                                                                   Tel: [phone]



                                                   KONAMI to Acquire
                                  a Portion of the Operations of Konami School, Inc.
                                              Following a Corporate Split


KONAMI CORPORATION, (KONAMI) Board of Directors decided on November 11, 2002, to
acquire a portion of the operations (video game software debugging operation at
Roppongi Monitoring Center) carried out by KONAMI's wholly-owned subsidiary,
Konami School, Inc. (Konami School) on January 1, 2003 as described below.


1.           Purpose of Corporate Split


The purpose of the Konami School is to train video game creators for the purpose
of developing high-quality human resources and to debugg video game software. 
As a result of this Corporate Split, Konami School will focus its attention on
human resources.


2.           Overview of Corporate Split


(1)     Schedule for Corporate Split


November 11, 2002              Board Meeting

                               to Approve the Corporate Split (the method of acquisition
                               following a Corporate Split) Agreement

November 11, 2002              Conclusion of Corporate Split Agreement

November 26, 2002              Shareholders' Meeting
                               to Approve the Corporate Split Agreement (Konami School, Inc.)

January 1, 2003                Date of Corporate Split


(2)     Method of Corporate Split


a.                       We will completed the acquisition following the corporate split.

Acquiror: KONAMI

Split-Off Company: Konami School


b.   We will use a short-form corporate split which does not require shareholder approval as stated in the
Article 374-17-1 of the Commercial Code.



(3)     Allocation of Shares upon Corporate Split


We will not allocate shares since Konami School is our wholly owned subsidiary.


(4)          Amount of Stated Capital Increased upon Corporate Split


None


(5)     Cash Amount to be Paid upon Corporate Split


None


(6)          Rights and Obligations of Acquiror


All the assets and liabilities such as account payables and fixed assets and any agreements (including employment
agreements) and the other rights and obligations incidental thereto relating to the operations acquired shall be
assumed on the Corporate Split Date.


(7)                    Future Performance of Obligations and Liabilities


KONAMI and Konami School have agreed that KONAMI will be responsible for performing obligations and fulfilling the
liabilities that will mature after the corporate split date.


(8)     Directors transferring to the acquiror from the split-off company


None




3.           Outline of Parties




                                                                                  (as of March 31, 2002)
(1)    Name                KONAMI CORPORATION                     Konami Computer
                                                                  Entertainment School, Inc. (*2)


                           (Acquiror)                             (Split-Off Company)
(2)    Principal           Global Entertainment:                  Trainning video game creators
       Businesses

(3)    Date of             March 19, 1973                         March 18, 1997

       Establishment
(4)    Location of         4-3-1 Toranomon, Minato-ku,            2-12-15 Shibuya, Shibuya-ku,
       Headquarters        Tokyo, Japan (*1)                      Tokyo, Japan



(5)    Representative      Kagemasa Kozuki                        Masaki Yoneoka

                           Representative Director and CEO        Representative Director
(6)    Capital (million    47,398                                 395
       yen)

(7)    Total Number of     128,737,566 shares                     10,900 shares
       Issued Shares

(8)    Shareholderfs       132,573                                218
       Equity (million
       yen)

(9)    Total Assets        208,896                                1,054
       (million yen)

(10)   Fiscal Year         ends March 31                          ends March 31

(11)   Number of           951                                    46
       Employees

(12)   Principal           Kozuki Holding B.V.: 10.50%            KONAMI CORPORATION: 100%
       Shareholders and
       Percentages Held    Japan Trustee Service
                           Trust Bank Co., Ltd. (Trust Account):
                           5.76%

                           KOZUKI FOUNDATION FOR

                           HFIGHER EDUCATION: 5.68%


(13)   Principal Banks     Sumitomo-Mitsui Banking Corporation    Sumitomo-Mitsui Banking Corporation

(14)   Relationship        Capital relationship                   KONAMI CORPORATION
       between parties                                            owns 100% of the split-off companyfs
                                                                  issued shares


(*1)      KONAMI changed the location of headquarters to 2-4-1 Marunouchi, Chiyoda-ku, Tokyo on August 26,
          2002.

(*2)      Konami Computer Entertainment School, Inc. changed its name to Konami School, Inc. on May 1, 2002.


(15)                Results for Three Most Recent Fiscal Periods (Japanese GAAP)


KONAMI CORPORATION  (Acquiror)

Fiscal Year                 Ended March 31, 2000     Ended March 31, 2001   Ended March 31, 2002


Net Sales                                    130,124                148,470                     123,283

(million yen)
Operating Income                              25,613                 34,092                      11,083

(million yen)
Ordinary Income                               25,374                 33,238                      11,792

(million yen)
Net Income                                    16,236                 18,042                       8,675

(million yen)
Net Income per Share (yen)                    290.26                 158.12                       67.96
Dividends per Share                               97                     54                          54

(yen)
Shareholders' Equity                        1,251.21               1,136.49                    1,029.80
per Share (yen)


Konami School, Inc.  (Split-Off Company)

Fiscal Year                 Ended March 31, 2000     Ended March 31, 2001   Ended March 31, 2002


Net Sales                                        935                  1,073                         921

(million yen)
Operating Income                                 102                  (124)                        (63)

(million yen)
Ordinary Income                                  106                  (121)                        (62)

(million yen)
Net Income                                        93                  (144)                        (63)

(million yen)
Net Income per Share (yen)                    18,879               (29,331)                     (5,766)
Dividends per Share                                -                      -                           -

(yen)
Shareholders' Equity                          25,404                (3,927)                      19,992

per Share

(yen)



4.           Overview of the Operations to be Acquired


(1)                    Roppongi Monitoring Center:

video game software debugging operation




(1)                    Roppongi Monitoring Center:

video game software bug checking operations

(2)          Results of Operations to be Acquired for Fiscal Year Ended March 31, 2002





Net Sales (million yen)                                                                             454
Gross Profit (million yen)                                                                          201
Operating Income (million yen)                                                                        9
Ordinary Income (million yen)                                                                        11




(3)          Assets and Liabilities of Operations to be Acquired (as of Oct 31, 2002)



             Assets (million yen)                             Liabilities (million yen)

Current Assets                             189 Current Liabilities                                   30
Fixed Assets                                47
Total Assets                               236 Total Liabilities                                     30


5.                       Company Overview of KONAMI after Acquisition of Operations


(1)    Company Name                KONAMI CORPORATION

(2)    Details of Business         Global Entertainment

(3)    Location of Headquarters    2-4-1 Marunouchi, Chiyoda-ku, Tokyo

(4)    Representative              Kagemasa Kozuki, Representative Director and CEO

(5)    Capital (million yen)       47,398 (as of March 31, 2002)

                                   No capital increase after corporate split

(6)    Total Assets                236 million yen is the expected increase resulting from this
                                   transaction.

(7)    Fiscal Year                 Ends March 31

(8)    Impact on                   Konami does not expect that the corporate split will have a material
                                   impact on its consolidated results of operations or financial
       financial results of KONAMI condition since the split-off company (Konami School) is the
                                   wholly-owned company.




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