Callaway Golf Company To Broadcast Review of Fourth Quarter and Fiscal Year 2002 Results Over The Internet.

Business & Sports Editors/Golf Writers & Columnists

CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 30, 2003

Callaway Golf Company (NYSE:ELY) announced today that it will release its fourth quarter and fiscal year 2002 results on Thursday afternoon, February 6, 2003. The Company will subsequently hold a conference call with financial analysts and investors to review the results at 2:00 p.m. PST 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 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 7742353 and the replay will be available through 5:00 p.m. PST, on Thursday, February 13, 2003.

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 VFT 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.