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Konami, 4kids Entertainment And Rainbow S.R.L. Announce Winx Club License Agreement

KONAMI, 4KIDS ENTERTAINMENT AND RAINBOW S.r.l. ANNOUNCE WINX CLUB LICENSE AGREEMENT

Konami to Release Video Games Based on Popular Girls Animated Series

LOS ANGELES – May 17, 2005 - Konami Digital Entertainment - America, a division of Konami Digital Entertainment, Inc., Rainbow S.r.l. and 4Kids Entertainment, Inc. (NYSE: KDE) today announced a licensing agreement to publish video games based on the popular girls television series Winx Club. The first Winx Club video game is expected to be available fall ’05 on the PlayStation®2 computer entertainment system, Nintendo Game Boy® Advance and PC CD-ROM.

The Winx Club, a worldwide TV hit produced by Rainbow S.r.l. in collaboration with top Italian designers, follows the adventures of five fashion savvy teenage girls who use their special powers to transform into magical fairies and save the universe.

The Winx Club airs Saturday mornings on 4Kids TV, 4Kids Entertainment’s four-hour block of children’s programming on FOX. “Winx Club is a fun new kids-oriented title that will complement Konami’s great line of entertainment games for young audiences,” said Geoff Mulligan, Chief Operating Officer, Konami Digital Entertainment – America. “The appealing elements of friendship, magic and music will make for an inspiring video game with a positive and lasting influence on kids.” “We are thrilled with the partnership with Konami and are confident that the video game will be one of the most sought-after Winx Club merchandise among the tween girl fans. Being linked with such a strong worldwide partner clearly enables Winx Club to further enforce its worldwide presence as the second TV season is launched across the globe,” says Iginio Straffi, creator of Winx Club and founder of Rainbow S.r.l. “We are dedicated to developing engaging entertainment properties for girls,” said Alfred R. Kahn, Chairman and Chief Executive Officer of 4Kids Entertainment. “Winx Club has been successful on 4Kids TV and as the brand continues to gain popularity, we look to add partners that will deliver the Winx Club story in ways that are relevant to girls. Girls are one of the fastest growing segments of the video game industry and Konami’s track record of success made them a clear choice to tap for this endeavor.”

Focusing on friendship, love, fantasy, fashion and music, the game is sure to capture the imaginations of female gamers everywhere. Bloom, an earth girl who discovers she has fairy powers, finds herself attending Alfea, an enchanted school that teaches gifted individuals to become fairies. Set in the mystical world of Magix, players take on the role of this energetic dreamer who is also the leader of the Winx Club. While exploring the Winx Club universe, players will solve challenging puzzles, play mini-games and engage in magic-based battles. As they guide Bloom throughout the game, players will make lasting friendships, discover Bloom’s true origin and thwart the plans of evil witches from a rival school.

Filled with a cast of extraordinary characters, fans will fall easily into the game’s storyline, which like the series emphasizes communication and relationships. Taking on the role of Bloom, players will experience the engaging gameplay filled with community-based activities and collectibles as well as a wide range of magical moves and spectacular spells that will provide hours of entertainment. Designed especially with young gamers in mind, the title includes accessible controls and a seamless help system that aids players on this exciting journey. To learn more about the Winx Club video games, please visit the Konami E3 2005 booth in the Los Angeles Convention Center May 18-20. The Winx Club licensing program also includes dolls from Mattel featuring mystical light-up wings and lots of fun fairy accessories, trading cards from Upper Deck, books from Scholastic and shoes at Payless Shoe Source all available now at retailers nationwide. To learn more about the Winx Club, please www.WinxClub.TV   and www.winxclub.com

About KONAMI CORPORATION Konami Corporation is a leading developer, publisher and manufacturer of electronic entertainment properties, specializing in the home video game market. Konami Corporation's action and adventure titles include the popular franchises Metal Gear Solid®, Silent Hill® and Castlevania®, among other top sellers. The latest information about Konami can be found on the Web at www.konami.com. Konami Corporation is a publicly traded company based in Tokyo, Japan with subsidiary offices, Konami Digital Entertainment, Inc. in the US and Konami of Europe in Frankfurt, Germany. Konami Corporation, the parent company of Konami Digital Entertainment, Inc. is traded in the United States on the New York Stock Exchange under the ticker symbol KNM. Details of the products published by Konami Digital Entertainment - America can be found at www.konami.com/gs

About 4Kids Entertainment

Headquartered in New York City with international offices in London, 4Kids Entertainment, Inc. (NYSE: KDE) is a global provider of children's entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries, provides domestic and international merchandise licensing; television, film, music and home video production and distribution; media planning and buying; product development; and Web site development. For further information, please visit the Company's Web site at www.4KidsEntertainment.com <http://www.4kidsentertainment.com/> .

About Rainbow S.r.l. Rainbow S.r.l. is a leading European animation producer with an award-winning team including animation directors, scriptwriters, story-editors, senior 2D&3D animators, special effects operators plus a fully dedicated sales and licensing department.

Do visit the Rainbow S.r.l. web site for further information: www.rbw.com

The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors beyond the Company's control, including general economic conditions, consumer spending levels, competition from toy companies, motion picture studios and other licensing companies, the uncertainty of public response to the Company's properties and other factors could cause actual results to differ materially from the Company's expectations.

"PlayStation" and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc. Nintendo GameCube and Nintendo GameBoy Advance are trademarks of Nintendo.



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