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.

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