CARLSBAD, CA., June 25, 2001 – Callaway Golf (NYSE: ELY) led all manufacturers in golf ball usage on the Senior PGA Tour last week, marking the second time this season that the Rule 35® ball has been the outright leader in usage at a Senior PGA Tour event. A total of 37 golfers played Rule 35 golf balls at the FleetBoston Classic, compared to 35 for the nearest competitor. Callaway Golf also won the ball usage count at the Royal Caribbean Classic in February, and shared the lead in ball usage with Titleist at the MasterCard Championship in January.

At the FleetBoston Classic, 36 golfers teed it up with the Rule 35 Firmfeel™ (red logo) ball, while one golfer chose the Rule 35 Softfeel™ (blue logo) ball. Callaway Golf Staff Professional Bruce Fleisher finished second at the event using the Rule 35 Firmfeel ball, leading a group of four golfers to post top-10 finishes using balls made by Callaway Golf. Fleisher is ranked in the top five in several statistical categories using the Rule 35 Firmfeel ball, including driving accuracy, greens in regulation, scoring average and money won.

Callaway Golf is second in golf ball usage on the Senior PGA Tour this season, accounting for 39.7 percent of balls in play on the tour through June 24. Across the world's five major professional tours combined this year, Callaway Golf ranks second in ball usage and is second in overall wins with 19. Rule 35 balls have been used to win more than $25 million on the five major tours combined this year.

The Rule 35 ball is also enjoying an outstanding season on the LPGA Tour, where Callaway Golf is the leader in golf ball wins with 10. Callaway Golf Staff Professional Annika Sorenstam has won five events using the Rule 35 Softfeel model, and her 2001 accomplishments include an unprecedented round of 59 in an LPGA Tour event. Sorenstam leads the tour in driving accuracy and greens in regulation using the Rule 35 ball, and has improved from 48th to 23rd in driving distance this year.

Callaway Golf Company makes and sells Big Bertha® Metal Woods and Irons, including Big Bertha ERC® II Forged Titanium Drivers, Big Bertha Hawk Eye® VFT™ and Big Bertha Hawk Eye VFT Pro Series Titanium Drivers and Fairway Woods, Big Bertha Steelhead Plus™ Stainless Steel Drivers and Fairway Woods, Hawk Eye Tungsten Injected™ Titanium Irons, Steelhead™ X-14® and Steelhead X-14 Pro Series Stainless Steel Irons. Callaway Golf Company also makes and sells Odyssey® Putters, including White Hot®, TriHot™, and Dual Force® Putters. Callaway Golf Company makes and sells the Callaway Golf® “Rule 35®” Firmfeel™ and Softfeel™ golf balls, and the CB1™ Red and CB1 Blue golf balls. For more information about Callaway Golf Company, please visit our Web sites at www.callawaygolf.com and www.odysseygolf.com.

Contact: Larry Dorman, Mike Galeski or Millie Speirs (760) 931-1771