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.