Callaway Golf Company Announces Commitment to Participate in 2004 PGA Merchandise Show.

Business & Sports Editors/Golf Writers & Columnists

PGA Merchandise Show

CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 28, 2003

Callaway Golf Company (NYSE: ELY) today announced it will participate in the 2004 PGA Merchandise Show at Orlando. The world's #1 manufacturer of woods, irons and putters, Callaway Golf will display a broad array of new products in the largest booth at the Jan. 29, 2004 PGA Merchandise Show, said Patrice Hutin, Executive Vice President of Global Sales and Advertising.

"We are very excited about the product lineup we are bringing to market in 2004, and we think the PGA Show is an excellent venue for exhibiting this broad and innovative new line," Mr. Hutin said. "The PGA Show in Orlando has always been the premier selling occasion for the golf industry. We are pleased to continue our longtime association with this great event."

According to figures compiled by Reed Exhibitions, the PGA Merchandise Show annually draws more than 50,000 attendees and 1,000 exhibitors to the Orange County Convention Center, including PGA Professionals and retailers from around the world. Callaway Golf has been an exhibitor at each Show since 1984, when the Company displayed specialty wedges and putters from a tiny booth under the name Callaway Hickory Stick USA. Since then, Callaway Golf and Odyssey Golf, a brand of Callaway Golf, have become the worldwide market leaders in woods, irons and putters.

"The participation of Callaway Golf in the golf industry's largest business gathering of the year is especially meaningful to our more than 28,000 men and women professionals," said PGA of America Chief Executive Officer Jim Awtrey. "We value Callaway Golf's commitment to PGA Professionals, the PGA Merchandise Show and to stimulating the business of golf."

"Supporting the PGA of America was one of the key motivators in our decision to participate in the PGA Show again this year," said Mr. Hutin. "And we also are extremely committed to growing the game of golf on every level. Although some manufacturers have chosen not to participate in the Show, we believe that supporting it is important to the industry."

Callaway Golf Company makes and sells Big Bertha(R) Metal Woods and Irons, including Great Big Bertha(R) II Titanium Drivers and Fairway Woods, Big Bertha Steelhead(TM) III Stainless Steel Drivers and Fairway Woods, Hawk Eye(R) VFT(R) Tungsten Injected(TM) Titanium Irons, Big Bertha Stainless Steel Irons, Steelhead X-16(TM) and Steelhead X-16 Pro Series Stainless Steel Irons, and Callaway Golf Forged Wedges. Callaway Golf Company also makes and sells Odyssey(R) Putters, including White Hot(R), TriHot(R), DFX(TM) and Dual Force(R) Putters. Callaway Golf Company makes and sells the Callaway Golf(R) HX(R) Blue and HX Red balls, the CTU 30(R) Blue and CTU 30 Red balls, the HX 2-Piece Blue and HX 2-Piece Red balls, the CB1(R) Blue and CB1 Red balls, and the Warbird(TM) golf balls. For more information about Callaway Golf Company, please visit our Web sites at www.callawaygolf.com and www.odysseygolf.com.