Callaway Golf Appoints KPMG as Independent Auditor.

Business & Sports Editors/Golf Writers & Columnists

CARLSBAD, Calif.--(BW SportsWire)--March 25, 2002

Callaway Golf Company (NYSE:ELY) announced today that its Board of Directors has appointed KPMG LLP as the Company's independent auditor for fiscal year 2002.

"We look forward to working with KPMG, a leading public accounting firm with great depth and a global presence that can support our widespread operations," said Ron Drapeau, Chairman, President and Chief Executive Officer.

Prior to the selection of KPMG, Arthur Andersen LLP had served as the Company's independent auditor for the year ended December 31, 2001. Andersen has completed its audit of the Company's financial statements for that year. "Each year the Board, after considering the recommendation of the Audit Committee and input from management, appoints the Company's outside auditor," continued Mr. Drapeau. "The appointment of KPMG as outside auditor for 2002 was made after careful review and consideration. The decision to change auditors was not the result of any disagreement with Andersen or any concern about the quality of the services provided by Andersen for the Company's 2001 fiscal year. We value the professional services provided by Andersen and appreciate the excellent work performed by the San Diego team assigned to us."

Callaway Golf Company makes and sells Big Bertha(R) Metal Woods and Irons, including Big Bertha C4(TM) Compression Cured Carbon Composite Drivers, Big Bertha ERC(R) II Forged Titanium Drivers, Big Bertha ERC Forged Titanium Fairway Woods, Big Bertha Hawk Eye(R) VFT(R) and Big Bertha Hawk Eye VFT Pro Series Titanium Drivers and Fairway Woods, Big Bertha Steelhead(TM) III Stainless Steel Drivers and Fairway Woods, Hawk Eye VFT Tungsten Injected(TM) Titanium Irons, Big Bertha Stainless Steel Irons, Steelhead X-14(R) and Steelhead X-14 Pro Series Stainless Steel Irons. Callaway Golf Company also makes and sells Odyssey(R) Putters, including White Hot(R), TriHot(TM), and Dual Force(R) Putters. Callaway Golf Company makes and sells the Callaway Golf(R) HX(TM) Blue and HX Red balls, Rule 35(R) Firmfeel(TM) and Softfeel(TM) balls, the CTU 30(TM) Blue and CTU 30 Red balls, and the CB1(TM) Blue and CB1 Red balls. For more information about Callaway Golf Company, please visit our Web sites at www.callawaygolf.com and www.odysseygolf.com.