Corporate Split

Konami Corporation
28 November 2002


FOR IMMEDIATE RELEASE


                                                 November 28, 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
                                              Tel: [phone]



                             KONAMI to Acquire

            a Portion of the Operations of Konami Capital, Inc.

                        Following a Corporate Split




KONAMI CORPORATION (KONAMI)'s Board of Directors decided on November 28, 2002, to acquire a portion of the operations
(financial service operations such as the arrangement of intercompany loans) carried out by KONAMI's wholly-owned
subsidiary, Konami Capital, Inc. (Konami Capital) as of February 1, 2003 as described below.




1.           Purpose of Corporate Split


The purpose of Konami Capital is to manage real estate owned by the Konami Group and to engage in financial service
operations such as the arrangement of intercompany loans.

As a result of this corporate split, Konami Capital will focus its attention on real estate management.


2.           Overview of Corporate Split


(1)     Schedule for Corporate Split


November 28, 2002              Board Meeting to Approve the Corporate Split (the method of
                               acquisition following a Corporate Split) Agreement

November 28, 2002              Conclusion of Corporate Split Agreement

December 13, 2002              Shareholders' Meeting to Approve the Corporate Split Agreement
                               (Konami Capital, Inc.)

February 1, 2003               Date of Corporate Split


(2)     Method of Corporate Split


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

Acquiror: KONAMI

Split-Off Company: Konami Capital


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



(3)     Allocation of Shares upon Corporate Split


We will not allocate shares since Konami Capital 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 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 Capital 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 Capital, Inc.

                           (Acquiror)                             (Split-Off Company)

(2)    Principal           Global Entertainment:                  Real Estate Management and
       Businesses
                                                                  Financial Service Operations
(3)    Date of             March 19, 1973                         December 1, 1987

       Establishment
(4)    Location of         4-3-1 Toranomon, Minato-ku,            1-28, Kanda Sudacho,

       Headquarters        Tokyo, Japan (*1)                      Chiyoda-ku, Tokyo, Japan(*2)




(5)    Representative      Kagemasa Kozuki                        Seiji Ito

                           Representative Director and CEO        Representative Director
(6)    Capital (million    Y47,398                                Y480

       yen)
(7)    Total Number of     128,737,566 shares                     9,600 shares
       Issued Shares
(8)    Shareholders'       Y132,573                               Y1,416
       Equity (million

       yen)
(9)    Total Assets        Y208,896                               Y16,926

       (million yen)
(10)   Fiscal Year         ends March 31                          ends March 31
(11)   Number of           951                                    61

       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

                           HIGHER 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 company's
                                                                  issued shares


(*1)      KONAMI moved its headquarters to 2-4-1 Marunouchi, Chiyoda-ku, Tokyo on August 26, 2002.
(*2)      Konami Capital moved its headquarters to 2-7-16 Kyobashi, Chuo-ku, Tokyo on April 1, 2002.



(15)                Non-consolidated 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                              Y130,124               Y148,470                    Y123,283

(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 Capital, Inc.  (Split-Off Company)

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


Net Sales                                 Y1,418                 Y1,460                      Y1,391

(million yen)
Operating Income                             140                    166                         204

(million yen)
Ordinary Income                               52                     39                         122

(million yen)                             
Net Income                                    24                  (314)                         183

(million yen)
Net Income per Share (yen)                 2,565               (32,737)                      19,101

Dividends per Share                        2,500                      -                           -

(yen)
Shareholders' Equity                     116,298                129,130                     147,506

per Share (yen)




4.           Overview of the Operations to be Acquired


(1)                    Financial service operations:

Arrangement of intercompany loans







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





Net Sales (million yen)                                              Y78
Gross Profit (million yen)                                           (39)
Operating Income (million yen)                                       (62)
Ordinary Income (million yen)                                        (49)




(3)          Assets and Liabilities of Operations to be Acquired (as of Sep 30, 2002)



             Assets (million yen)                             Liabilities (million yen)
Current Assets           Y11,332                 Current Liabilities                              Y12,010
Fixed Assets              Y1,608
Total Assets             Y12,940                 Total Liabilities                                Y12,010


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)       Y47,398 (as of March 31, 2002)

                                   No capital increase after corporate split
(6)    Total Assets                Y4,203 million is the expected increase resulting from this
                                   transaction.

(7)    Fiscal Year                 Ends March 31
(8)    Impact on KONAMI's          Konami does not expect that the corporate split will have a material
                                   impact on its consolidated results of operations or financial
       financial results           condition since the split-off company

                                   (Konami Capital) is a wholly-owned company.






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