Callaway Golf Staff Professional Phil Mickelson Shoots 59!; Uses Prototype Callaway Ball, Driver to Win PGA Grand Slam.

CARLSBAD, Calif. -- Callaway Golf (NYSE:ELY) Staff Professional Phil Mickelson put an exclamation point on his breakthrough season today when he fired a stunning final round of 59 to win the PGA Grand Slam of Golf at Poipu Bay Golf Course in Hawaii.

Mickelson, the reigning Masters Champion, joined an elite group of just five professional golfers who have shot 59 in competition, including Callaway Golf Staff Professional Annika Sorenstam, who did it in 2001. Mickelson used 14 Callaway Golf clubs -- including a prototype Odyssey (PM) putter -- to come within an eyelash of shooting 58, barely missing an eight-foot eagle putt on No. 18 that would have made him the only player in history to shoot 58 in competition.

"Annika called me up right after I signed with Callaway and said `I shot 59, now you have to do it, too'," Mickelson said after signing his scorecard. "She gave me some pretty good ribbing, so now I get to give a little of it back to her."

Mickelson overcame a three-stroke deficit to easily best the field featuring the year's major championship winners. His 17-under-par total of 127 tied the course record for 36 holes and beat Vijay Singh by five strokes. His near flawless round demonstrated the accuracy and superior aerodynamics of the softer prototype HX Tour Golf Ball as he used it to record 11 birdies, one eagle and no bogeys.

Striking his iron shots crisply and accurately, he needed just 23 putts in the record-tying round, including 11 on the front nine for a tournament-record 28 that featured six birdies and an eagle. Mickelson reached the 573-yard No. 6 hole with a 324-yard drive and a towering 247-yard second shot hit with a new Callaway Golf Big Bertha 3H Heavenwood Hybrid and made the 15-footer to move into a tie for the lead at 10 under. He called the eagle at the sixth the key to his round and said the Heavenwood shot was his best of the day.

"That shot was what really got me thinking I could go very low," Mickelson said. "It came out exactly the way I envisioned it."

His previous low round was 61 at the 2001 Greater Hartford Open, and his lowest round of the 2004 campaign had been a 63 at the Bob Hope Chrysler Classic.

In addition to the prototype HX Tour Golf Ball, Mickelson used a prototype Big Bertha(R) Fusion(R) Driver, Big Bertha 3-Plus Fairway Wood, Big Bertha 3H Heavenwood(R) Hybrid, prototype X-Tour Irons (3-9), Forged+ Wedges and the prototype Odyssey (PM) Putter.

Tour results are through the week ending 11/24/04 and reflect data from the PGA, European PGA, LPGA, Champions, Nationwide and Japan Golf Tours. Source: Sports Marketing Survey, Ltd. and Darrell Survey Company. Callaway Golf Company makes and sells Big Bertha(R) Woods, Hybrids and Irons, including ERC(R) Fusion(R) Drivers and Fairway Woods, Great Big Bertha(R) II Titanium Drivers and Fairway Woods, Great Big Bertha II 415 Titanium Drivers, Big Bertha Titanium Drivers and Big Bertha Stainless Steel Fairway Woods, Big Bertha Heavenwood(R) Hybrids, Big Bertha Fusion Irons, Hawk Eye(R) VFT(R) Tungsten Injected(TM) Titanium Irons, Big Bertha Stainless Steel Irons, Steelhead(R) X-16(R) and Steelhead X-16 Pro Series Stainless Steel Irons, the Game Enjoyment System(TM) of GES(TM) Golf Clubs, Callaway Golf Forged+ Wedges and Callaway Golf Forged Wedges, and Callaway Golf Tour Blue(TM) Putters. Callaway Golf Company also makes and sells Odyssey(R) Putters, including White Steel(TM), White Hot(R), TriHot(R), DFX(R), Dual Force(R) and 2-Ball Putters. Callaway Golf Company makes and sells the Callaway Golf(R) HX(R) Tour Balls, HX Blue and HX Red Balls, Big Bertha(TM) Blue and Big Bertha Red Balls, and the Warbird(R) Balls. Callaway Golf also owns and operates The Top-Flite Golf Company, a wholly owned subsidiary that includes the Top-Flite(R) and Ben Hogan(R) brands and Bettinardi Putters. The Trade In! Trade Up!(TM) program is owned and operated by Callaway Golf Company. For more information about Callaway Golf Company, please visit our websites at www.callawaygolf.com, www.topflite.com, www.odysseygolf.com and www.tradeintradeup.com.