Dissolution of Subsidiary

Konami Corporation
19 December 2002


FOR IMMEDIATE RELEASE

                                                                                                      December 19, 2002


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


                                       Dissolution of Wholly-Owned Subsidiary
                                           Konami Asia (Singapore) Pte. Ltd.

Konami Corporation ('Konami') hereby announces that its Board of Directors decided on December 19, 2002 to dissolve its
wholly-owned subsidiary, Konami Asia (Singapore) Pte. Ltd. as explained below.

1. Reasons for the Dissolution

Konami Asia (Singapore) Pte. Ltd. was established in Singapore as a holding company for sales subsidiaries in Asia.
However, there is no longer need for a holding company as a result of the reorganization of the Konami group sales
subsidiaries. As a result, Konami has decided to dissolve the subsidiary.

2. Company Information

(1) Name of the company            Konami Asia (Singapore) Pte. Ltd.
(2) Address                        138 Robinson Road #17-00 The Corporate Office Singapore 068906
(3) Name of representative         Kagehiko Kozuki, Director and President
(4) Type of business               Holding shares of the Konami group sales subsidiaries
(5) Capital                        S$ 1,500,000
(6) Ownership                      100% owned by Konami Corporation

3. Schedule of Dissolution

The dissolution is scheduled to be completed in December 2002.

4. Impact of Dissolution

Konami does not expect that the dissolution of this subsidiary will have a material impact on its consolidated results
of operations or financial condition.

                      This information is provided by RNS
            The company news service from the London Stock Exchange