We have measured the branching ratio R = T ( K~-T ' T~) / T ( K .~+ D~T " , of K $ produced in the reaction T-+ p -Ao + KO in the 1.45 GeV/c T-beam of the Princeton-Pennsylvania Accelerator. The K ! decay secondaries were detected in an array of magnetostrictive-readout wire spark chambers interleaved with lead and copper radiators to convert y rays. The position of KO production in the target was detected with a unique trigger-target apparatus allowing a correction for the background produced by KO, decays. The branching ratio corrected for this background and other standard effects is R = 2.11 * 0.09, in good agreement with the world average.