Reanalysis of CP violation in K-L ->pi(+)pi(-)gamma - art. no. 116007

We present a reanalysis of direct CP violation in the decay K-L-->pi (+)pi (-)gamma. We point out an existing discrepancy between the theoretical and experimental definitions of epsilon (+-gamma)'. Adopting the experimental d efinition of epsilon (+-gamma)' we estimate that epsilon (+-gamma)'/epsilon could be as large as a few times 10(-4) both within the standard model and beyond. We discuss these estimates in detail and we also show how a judici ous choice of E-gamma* cuts can increase the sensitivity of the observable epsilon (+-gamma)' to the underlying CP violation.