Dissolution of Subsidiaries

Konami Corporation
11 November 2002


FOR IMMEDIATE RELEASE

                                                                                                      November 11, 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]




                                              Dissolution of Subsidiaries


Konami Corporation hereby announces that it has resolved, at the meeting of the Board of Directors held on November 11,
2002, to dissolve its subsidiaries, Konami Computer Entertainment Kobe, Inc. and Konami Computer Entertainment Nagoya,
Inc. as explained below.




1.  Reasons for the Dissolution
    Both subsidiaries were established to produce video game software.  Konami Corporation has decided to
    concentrate production operations in fewer companies in an effort to focus management resources and enhance
    the productivity of the Konami group as a whole.  As a result, Konami Corporation has decided to dissolve
    both subsidiaries and transfer their operations to other production companies in the Konami group.


2.  Company Information


      Name                          Konami Computer                         Konami Computer Entertainment Nagoya,
                                                                            Inc.
      of the company                Entertainment Kobe, Inc.
      Address                       7-3-2 Naka-machi, Minatojima, Chuo-ku,  4-3-1 Toranomon, Minato-ku, Tokyo
                                    Kobe-shi, Hyogo
      Name of representative

      director and president        Hitoshi Kobayashi                       Hitoshi Kobayashi
      Type of business              Video game software production          Video game software

                                                                            production
      Paid-in capital               300 million yen                         300 million yen
      Ownership                     100% by Konami Corporation              100% by Konami Corporation

3.  Schedule of Dissolution
    The dissolution is scheduled to be approved at an extraordinary general meeting in December 2002.


4.  Impact of Dissolution
    Konami does not expect that the dissolution of these two subsidiaries will have a material impact on its
    consolidated results of operations or financial condition.



Cautionary Statement with Respect to Forward-Looking Statements:


Statements made in this press release with respect to Konami's current plans, estimates, strategies and beliefs are
forward-looking statements about the future performance of Konami. 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.




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