Revision of Forecast

Konami Corporation
17 October 2002


FOR IMMEDIATE RELEASE


                                                                October 17, 2002


                                                              KONAMI CORPORATION
                                        2-4-1 Marunouchi Chiyoda-ku Tokyo, Japan
                                                                 Kagemasa Kozuki
                                                 Representative Director and CEO
                                                             Ticker 9766 at TSE1
                                                      Contact: Noriaki Yamaguchi
                                                 Representative Director and CFO
                                                            Tel: [phone]




         Revision of a Subsidiary's Japanese GAAP-based Earnings Forecast
             For the First Half of the Fiscal Year Ending March 31, 2003
                       (April 1, 2002 to September 30, 2002)






Konami Corporation hereby announces that its subsidiary, Konami Computer
Entertainment Tokyo, Inc., revised its Japanese GAAP-based earnings forecast for
the first half of the fiscal year ending March 31, 2003 previously released on
May 8, 2002.


1.         Earnings forecast for the first half of the fiscal year ending 
           March 31, 2003 (April 1, 2002 to September 30, 2002)



                                                        (Millions of yen)

                                   Net Sales     Ordinary Income      Net Income

Previous forecast (A)                  6,000               1,200             680

Revised forecast (B)                   8,050               2,550           1,450

Change (B)-(A)                         2,050               1,350             770

Change (Percentage)                   134.2%              212.5%          213.2%

Reference:

First half results for the fiscal
year ended March 31, 2002              3,138                 831             468


2.         Reasons for the revision

During the first half of the fiscal year ending March 31, 2003:


•              More than one million copies of World Soccer Winning Eleven 6, a
soccer game title for the PlayStation2, were sold in the domestic Japanese
market exceeding prior projections.

•              Suikoden III, a role playing game title for the PlayStation2,
performed strongly with approximately 400,000 copies sold during the first half
of this fiscal year.

•              Titles released prior to the fiscal year ended March 31, 2002
have continued to sell unexpectedly well with approximately 740,000 copies.




Due to the above reasons, net sales, ordinary income and net income are expected
to surpass the previous forecast for the first half of the fiscal year ending
March 31, 2003.  As a result, Konami Computer Entertainment Tokyo, Inc. revised
its earnings forecast upwards as shown above.


3.         Forecast for the fiscal year ending March 31, 2003

Konami Computer Entertainment Tokyo, Inc. will announce its earnings forecast
for the fiscal year ending    March 31, 2003 with its first half results.





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, including the above forecasts, 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.
Such factors include, but are not limited to: (i) changes in economic conditions
affecting our operations; (ii) fluctuations in currency exchange rates,
particularly with respect to the value of the Japanese yen, the U.S. dollar and
the Euro; (iii) our ability to continue to win acceptance of our products, which
are offered in highly competitive markets characterized by the continuous
introduction of new products, rapid developments in technology and subjective
and changing consumer preferences; (iv) our ability to successfully expand
internationally with a focus on our video game software business, card game
business and gaming machine business; (v) our ability to successfully expand the
scope of our business and broaden our customer base through our health and
fitness business; (vi) regulatory developments and changes and our ability to
respond and adapt to those changes; (vii) our expectations with regard to
further acquisitions and the integration of any companies we may acquire; and
(viii) the outcome of contingencies.






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