We update our 1993 analysis of the CP violating ratio epsilon'/epsilon
in view of the changes in several input parameters, in particular the
improved value of the top quark mass. We also investigate the strange
quark mass m(s) dependence of epsilon'/epsilon in view of rather low
values found in the most recent lattice calculations. A simple scannin
g of the input parameters within one standard deviation gives the rang
es: -1.2 . 10(-4) less than or equal to epsilon'/epsilon less than or
equal to 16.0 . 10(-4) and 0 less than or equal to epsilon'/epsilon le
ss than or equal to 43.0 . 10(-4) for m(s)(m(c)) = 150 +/- 20 MeV and
m(s)(m(c)) = 100 =/- 20 MeV respectively. If the experimentally measur
ed numbers and the theoretical input parameters are used with Gaussian
errors, we find <epsilon'/epsilon = (3.6 +/- 3.4) . 10(-4) and epsilo
n'/epsilon = (10.4 +/- 8.3) . 10(-4) respectively. We also give result
s for Im V-tsV)(td). Analyzing the dependence of epsilon'/epsilon on
various parameters we find that only for m(s)(m(c)) less than or equal
to 100 MeV and a conspiration of other input parameters, values for e
psilon'/epsilon as large as (2-4) . 10(-3) and consistent with the NA3
1 result can be obtained.