Callaway Golf Extends Revolutionary HX Family of Golf Balls With Launch of New HX 2-Piece Blue and Red Models.

Business & Sports Editors/Golf Writers & Columnists

CARLSBAD, Calif.--(BUSINESS WIRE)--May 6, 2002

Callaway Golf Company (NYSE: ELY) today announced it is bolstering its golf ball line by introducing the new HX(TM) 2-Piece Blue and Red golf balls. These new models bring the aerodynamic technology featured in the No. 2 ball on the world's six major professional tours combined -- the three-piece HX ball -- to the two-piece golf ball market. The HX 2-Piece Blue and Red balls are scheduled to reach golf shops by June 1, joining the original HX as the only high-performance golf balls on the market today without dimples.

The new HX 2-Piece balls utilize Callaway Golf's patented Tubular Lattice Network(TM), a proprietary pattern of rounded, crisscrossing tubes that forms a series of hexagons and pentagons. This configuration is more efficient than traditional round dimple patterns, which can often leave 20 to 30 percent of the cover devoted to flat land area. This space between dimples increases drag and can prevent efficient ball flight. All HX golf balls achieve 100-percent surface coverage by eliminating this flat land area, reducing drag at the beginning of ball flight and increasing lift toward the end of a shot. The result is a ball that helps golfers launch shots on a high, strong trajectory with the potential for increased distance -- and provides increased flight stability to help shots hold their line better in windy conditions.

"The HX 2-Piece is quite possibly the most technologically advanced two-piece ball a golfer can choose," said Richard C. Helmstetter, senior executive vice president and chief of new products for Callaway Golf. "It is an excellent choice for golfers who want to experience the unmatched aerodynamic performance of the original three-piece HX ball, but with the added distance and durability that a two-piece ball offers."

While the HX 2-Piece shares the Tubular Lattice Network with the three-piece HX models, the construction and performance parameters are separate and unique. HX 2-Piece Blue and Red balls have a large core made of a precise mixture of high-grade rubber and dense tungsten. By weighting the ball's core with tungsten, Callaway Golf is able to use a high concentration of rubber for increased ball speed at impact -- and increased potential for more distance off the tee. The tungsten-fueled core makes it possible to use a relatively soft ionomer cover that provides softer feel and better spin characteristics than many two-piece distance balls. By contrast, the original three-piece HX Blue and Red balls have a thin urethane cover, an ionomer mantle layer and a smaller tungsten-enriched rubber core.

As with the rest of Callaway Golf's lineup of premium golf balls, the HX 2-Piece is available in two versions: Blue and Red. The HX 2-Piece Blue has a slightly softer cover and core configuration for increased spin, while the HX 2-Piece Red is slightly firmer for greater potential distance. All HX golf balls also have the added benefit of a virtually seamless cover, which improves consistency and distance control from shot to shot.

"We believe the aerodynamic advances built into the HX balls represent a revolutionary design breakthrough," said Ron Drapeau, president, CEO and chairman of Callaway Golf. "Adding the HX 2-Piece Blue and Red balls to the three-piece HX models underscores Callaway Golf's confidence in this technology, and reflects the strong response we've received to the original HX from tour professionals and average golfers alike. Our flagship three-piece HX golf ball has become the No. 2 ball in play across the world's major professional tours combined in just a matter of months, and it is selling very well at golf shops around the world. Now we are offering golfers everywhere a ball that utilizes the same aerodynamic technology that also has the added benefit of greater potential distance -- and at a lower price point."

Like all Callaway Golf balls, the HX 2-Piece Blue and HX 2-Piece Red golf balls conform to the Rules of Golf according to the USGA and the Royal and Ancient Golf Club of St. Andrews and can be used for recreational and tournament play around the world. Both models are available in three-ball sleeves and 12-ball cubes. The suggested retail price for a three-ball sleeve is $9.50, and a 12-ball cube of HX golf balls has a suggested retail price of $37.50.

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, 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.