We report on a calculation of epsilon ' (K)/epsilon (K) at next-to-leading
in the 1/N-c expansion and to lowest order in Chiral Perturbation Theory. W
e discuss the short-distance matching, the scale and scheme dependence as w
ell as the long-distance short-distance matching. We include the two known
chiral corrections to our result and discuss further order p(4) corrections
to it.