Subsidiary's Revised Forecast

Konami Corporation
22 March 2005


FOR IMMEDIATE RELEASE           March 18, 2005
                                KONAMI CORPORATION
                                2-4-1 Marunouchi Chiyoda-ku Tokyo, Japan
                                Kagemasa Kozuki
                                Chairman of the Board and CEO
                                Ticker 9766 at TSE1
                                Contact: Noriaki Yamaguchi
                                Executive Vice President and CFO
                                Tel: [phone]




                  Revised Forecasts of Japanese GAAP Earnings

                       for the Year Ending March 31, 2005

                 (Konami Computer Entertainment Japan, Inc.)


Konami Corporation hereby announces that its subsidiary, Konami Computer
Entertainment Japan, Inc. (the 'Company') revised its Japanese GAAP earnings and
year-end dividend (cash paid due to merger) forecasts for the fiscal year ending
March 31, 2005 ('fiscal 2005'), which were originally released in its Non-
Consolidated Financial Results for the Year Ended March 31, 2004 on May 12,
2004.

1. Revised earnings forecasts for fiscal 2005 (from April 1, 2004 to March 31, 2005)

                                                                            (Millions of yen)
                                         Net Revenues       Ordinary Income       Net Income
Previous forecasts (A)                          10,500                2,900             1,700
Revised forecasts (B)                           11,000                4,000             2,400
Change (B)-(A)                                     500                1,100               700
Change (Percentage)                               4.8%                37.9%             41.2%
Financial results for the fiscal                 8,581                2,566             1,453
year ended March 31, 2004




2. Reasons for the revision


During fiscal 2005, sales of METAL GEAR SOLID 3 SNAKE EATER, the latest title of
the METAL GEAR SOLID series released all over the world and the Yu-Gi-Oh! series
which are still popular in North America and Europe remained favorable. In
addition, we also concentrated on new characters such as Maho Sensei Negima and
NANA and enforced the products line-up. We tried to complete production
management and to reduce the production cost to improve each title's
profitability. As a result, net revenues, ordinary income and net income are
expected to surpass our previous forecasts for fiscal 2005, and the Company
revised its earnings forecasts upwards as shown above.


3. Cash paid due to merger

The Company announced that Konam would pay 31 yen per share of the Company due
to merger. However, we changed the amount from 31 yen to 54 yen per share of the
Company after consultation within the subject companies. The amount of cash paid
may be finally decided due to the financial results fixed in the end of April,
2005 and it is computed based on the figures of 50% of net income less interim
devidend





Cautionary Statement with Respect to Forward-Looking Statements:



Statements made in this press release with respect to the Company's current
plans, estimates, strategies and beliefs, including the above forecasts
regarding the Company's earnings and dividend for fiscal 2005 are forward-
looking statements about the future performance of the Company. 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; (v) regulatory
developments and changes and our ability to respond and adapt to those changes;
and (vi) the outcome of contingencies.






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