CARLSBAD, Calif. & NEW YORK, Mar 21, 2003 (BUSINESS WIRE) -- Callaway Golf Company (NYSE: ELY) today announced that it has signed a licensing agreement with the National Hockey League to manufacture and sell golf products bearing the logos of the NHL and its teams. The multiyear agreement applies to Callaway Golf products and putters bearing the name of the Company's putter brand, Odyssey(R) Golf. The announcement was made by Callaway Golf and the NHL today at a joint media event at the Callaway Golf Boston retail store, which was attended by former Boston Bruins star Rick Middleton.

The licensing agreement allows Callaway Golf to create golf products bearing the logos of the NHL, including the Stanley Cup and the League's 30 teams. Callaway Golf's initial NHL-logoed products will include golf balls, Odyssey(R) White Hot(R) Putters, putter and wedge gift boxes, golf bags, duffel bags, shoe bags and valuable pouches. Callaway Golf products with NHL logos are scheduled to ship to retail accounts by the end of the month.

"We're very pleased to partner with the NHL in this exciting new venture," said Patrice Hutin, Executive Vice President of Global Sales and Marketing for Callaway Golf. "NHL fans are among the most loyal and enthusiastic in the sports world, and we're ready to offer them excellent products that will help them enjoy the game of golf while showing their love of hockey."

"Callaway Golf is synonymous with excellence in the world of golf, and the NHL is proud to be affiliated with the Company," said Brian Jennings, NHL Group Vice President of Consumer Product Marketing. "We think NHL fans will be very happy with this new and unique way to show their support for the NHL and their favorite teams."

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(R) VFT(R) 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.

NHL, the NHL Shield and the name and image of the Stanley Cup are registered trademarks of the National Hockey League. NHL and NHL team marks are the property of the NHL and its teams. All Rights Reserved.

CONTACT:
Callaway Golf
Larry Dorman / Patrice Hutin
760/931-1771
or
NHL
Brian Walker, 212/789-2123