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CALLAWAY GOLF PLANS FOR INCREASED SALES IN FOREIGN MARKET

 Acquires Additional Building for Warehousing and Manufacturing
 and Approves a Stock Repurchase Program
 CARLSBAD, Calif., May 3 /PRNewswire/ -- Callaway Golf Company (NYSE: ELY) announced today that Donald H. Dye will assume the title of president and will continue as chief operating officer, with responsibility for the financial, legal, administrative and operational matters of the company.
 The company also announced that Richard C. Helmstetter, John Duffy and Bruce Parker have been reappointed to newly created positions of senior executive vice president. "In view of the growing demand for our products, the new positions recognize the increased responsibility each manager has in his respective area of expertise," stated Ely Callaway, chairman and chief executive officer. "Mr. Helmstetter will continue to be primarily responsible for development of all new golf club products, Mr. Duffy will be responsible for all manufacturing and Mr. Parker will be responsible for sales, advertising and promotion. Each of them will continue to be active members of the company's senior management committee, the Office of the Chief Executive." Helmstetter, Duffy and Parker will report to Dye regarding operations and will continue to report to Callaway regarding product development and marketing.
 In announcing the new appointments, Callaway stated, "The company's exceptional growth from $54.8 million in sales in 1991, to $132.1 million in 1992, and the continued strong demand for our products, requires us to look ahead and put in place the kind of management structure which will let us continue to manage our expected growth effectively. As part of our planning for the future, we have acquired a new 75,000-square-foot manufacturing and warehouse building located adjacent to our current headquarters plant. We have also recently established additional vendor sources for our component parts; and have strengthened our abilities to serve foreign markets. All of this is intended to assure that Callaway Golf Company continues to bring exceptional products and service to all of our customers at home and abroad."
 The company also announced today that it has recently concluded negotiations with Sumitomo Corporation of America, Sumitomo Corporation of Japan and Sumitomo Rubber Industries (Dunlop-Japan) for a seven-year exclusive distributorship agreement. The agreement opens a new era of cooperation between Callaway and the Sumitomo Group for distribution of Callaway Golf products in the Japanese market. It follows an expired five-year distribution agreement between the two companies.
 In recognition of the current and potential demand for Callaway golf clubs in Japan, Sumitomo Rubber Industries will appoint sales representatives dedicated solely to the sale and promotion of Callaway products in Japan. In addition to the dedicated sales force, the Sumitomo Group will rely solely on Callaway Golf for the development and manufacture of new golf clubs for importation into Japan.
 Callaway also announced the formation of Callaway Golf (UK) Ltd., which will act as sole distributor of its products in England, Scotland and Ireland.
 As part of its increasing emphasis on international markets, Callaway has appointed Scott Howard as vice president, international sales. Howard, who has been a top sales executive with Callaway for the past five years, will be responsible for the management of all of Callaway's international sales. He will be assisted in Europe by James Wilson, who joined Callaway in March 1991, as European sales manager, and in Japan and the rest of Asia by Mark Hanzel, who joined the company in June 1992, as Japan sales manager.
 The company also adopted a stock repurchase plan authorizing management to purchase up to $10,000,000 of the company's common stock. Callaway stated that, "We think that buying our stock under appropriate circumstances can be the best investment the company can make. Given our excellent cash position, we want to be able to buy our stock whenever it appears to us to be in the company's best interests to do so."
 -0- 5/3/93
 /CONTACT: Ely Callaway, chairman & CEO of Callaway Golf, 619-931-1771/
 (ELY)


CO: Callaway Golf Co. ST: California IN: LEI TEX SU: PER

BP-JL -- SD004 -- 3552 05/03/93 08:01 EDT
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Publication:PR Newswire
Date:May 3, 1993
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