Callaway Golf Company Announces Conference Call.

Business & Sports Editors/Golf Writers & Columnists

CARLSBAD, Calif.--(BUSINESS WIRE)--Dec. 11, 2003

Callaway Golf Company (NYSE:ELY) announced today that it will hold a conference call with financial analysts and investors on December 18, 2003 at 2:00 p.m. PST. The call will be hosted by Ron Drapeau, Chairman and Chief Executive Officer and Brad Holiday, Senior Executive Vice President and Chief Financial Officer.

In the Company's third quarter earnings release, the Company announced that it would provide additional financial guidance in December. The purpose of the December 18, 2003 conference call is to provide such guidance.

The call will be broadcast live over the Internet and can be accessed at www.callawaygolf.com. To listen to the call, go to the website at least 15 minutes before the call to register and for instructions on how to access the broadcast.

A replay of the conference call will be available approximately two hours after the conclusion of the conference call. The replay may be accessed through the Internet at www.callawaygolf.com or by telephone by calling [phone] for calls originating within the United States or [phone] for international calls. The password is 4392890 and the replay will be available through 5:00 p.m. PST, on Thursday, December 25, 2003.

Callaway Golf Company makes and sells Big Bertha(R) Metal Woods and Irons, including ERC(R) Fusion(R) Drivers, Great Big Bertha(R) II Titanium Drivers and Fairway Woods, Big Bertha Steelhead(R) 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(R) 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) Tour balls, HX 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. Callaway Golf also owns and operates The Top-Flite Golf Company, a wholly owned subsidiary that includes the Top-Flite(R), Strata(R) and Ben Hogan(R) brands. For more information about Callaway Golf Company, please visit our websites at www.callawaygolf.com, www.topflite.com and www.odysseygolf.com.