Revision of Forecast

Konami Corporation
05 November 2004


FOR IMMEDIATE RELEASE



November 5, 2004



KONAMI CORPORATION
2-4-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
Kagemasa Kozuki
Chairman of the Board and CEO
Ticker 9766 at TSE1
New York Stock Exchange, London Stock Exchange and Singapore Exchange
Contact: Toshiro Tateno
Director and Executive Corporate Officer
Tel: [phone]




Revision of Consolidated Earnings Forecast
for the Fiscal Year Ending March 31, 2005
(Prepared in Accordance with U.S. GAAP)


Konami Corporation hereby announces that it has revised its consolidated
earnings forecast for the fiscal year ending March 31, 2005, which was
previously released on May 12, 2004, as follows:

1.       Consolidated earnings forecast for the fiscal year ending 
         March 31, 2005 (from April 1, 2004 to March 31, 2005)



                                                                                 (Millions of yen)
                                             Operating income   Income before
                                                                 income taxes
                                Net revenues                                          Net income
Previous forecast (A)                275,000            28,000         27,000             15,000
Revised forecast (B)                 275,000            28,000         27,000             11,000
Change (B)-(A)                             -                 -              -             (4,000)
Change (Percentage)                        -                 -              -              (26.7)%
Results for the year ended           273,412            40,713         40,107             20,104
March 31, 2004


2.       Reason for the revision



We revised our earnings forecast downwards as shown above resulting from 
negative impact on equity in net income (loss) of affiliated companies in
connection with the revision of earnings forecast for our equity method
affiliates, Takara Co., Ltd. and Hudson Soft Co., Ltd. for the year ending March
31, 2005.


There is no change in the dividend forecast, which was originally announced on 
May 12, 2004.

(Year-end dividend: 27 yen per share; Dividend for the year: 54 yen per share 
including an interim dividend of 27 yen per share)




3.       Consolidated earnings forecast for the six months ending 
         September 30, 2004 (from April 1, 2004 to September 30, 2004)


For the six months ended September 30, 2004, we believe that we marked solid
sales in our all the five business segments, Computer & Video Games, Toy &
Hobby, Amusement, Gaming and Health & Fitness. Net income for this interim
period is expected to be 1,600 million yen resulting from negative impact on the
equity in net income (loss) of affiliated companies.

                                                                           (Millions of yen)


                       Net revenues     Operating income   Income before income         Net
                                                                  taxes              income
Forecast for the six        114,000               11,900         11,600               1,600
   months ending

 September30, 2004
  Results for the           129,976               21,698         22,408               10,859

  six months ended

  September30,2003
Change (Percentage)         (12.3)%              (45.2)%         (48.2)%             (85.3)%






Cautionary Statement with Respect to Forward-Looking Statements:



Statements made in this press release with respect to our current plans,
estimates, strategies and beliefs, including the above forecasts, are forward-
looking statements about our future performance. 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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