Callaway Golf Company To Broadcast 2002 Second Quarter Results Over The Internet.

Business & Sports Editors/Golf Writers & Columnists

Callaway Golf Company (NYSE:ELY) announced today that it will release its 2002 second quarter results on Thursday afternoon, July 18, 2002. The Company will subsequently hold a conference call with financial analysts and investors to discuss the results at 2:00 p.m. PDT that same day. The call will be hosted by Ron Drapeau, Chairman, President and Chief Executive Officer and Brad Holiday, Executive Vice President and Chief Financial Officer.

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 web site 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 one hour 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 4733663 and the replay will be available through 5:00 p.m. PDT, on Thursday, July 25, 2002.

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, the CTU 30(TM) Blue and CTU 30 Red balls, the HX 2-Piece Blue and HX 2-Piece 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.