CARLSBAD, CA., January 25, 2005 - Callaway Golf Company (NYSE: ELY) today announced the winner of the Company's Golf Professional of the Year Award, as well as the winners of the Company's third annual Club Fitter of the Year Awards.

James Farrell of Oakwood Country Club in Kansas City, Missouri, was named 2004 Callaway Golf Professional of the Year for his overall excellence as a club professional - an honor that recognizes both a high level of proficiency at playing the game and the skills necessary to run a successful business.

Farrell was the PGA Midwest Section Club Fitter of the Year in 2003 and currently serves a section Board Member and Tournament Director. A skilled competitor, Farrell finished second last year in the section's points race for Player of the Year. Farrell has also been a tireless supporter of the Company's Trade In! Trade Up! and logo programs. He was the Callaway Golf Custom Fitting Solution Club Fitter of the Year in 2002 and 2003.

"Callaway Golf is the one company that provides golf equipment that I can recommend without reservation for my members and use to play my best golf," said Farrell, who is also a Callaway Golf Master Staff Professional. "They provide me and other golf professionals with the support and the tools that I need to deliver excellent service to my members and customers. I am honored to be selected out of so many talented and hard-working PGA members and colleagues around the country."

The recipients of Callaway Golf's 2004 Club Fitter of the Year Awards are being honored for their exceptional achievements using the Callaway Golf Custom Fitting Solution at their facilities. Each of the winners has shown outstanding support for the Company's club fitting program while providing a valuable service to their customers.

The winners of the 2004 Callaway Golf Club Fitter of the Year Awards are:

• Jim Bender & Greg Bryan, Ardsley Country Club, Ardsley-on-Hudson, New York
• Terry O'Hara, Cyprian Keyes Golf Club, Boylston, Massachusetts
• Christopher Foley, Madden's on Gull Lake, Brainerd, Minnesota
• Drew Pettengill, PGA Tour Stop, St. Augustine, Florida
• Michael Adams, The Golf Stop, Overland Park, Kansas

The 2004 Callaway Golf Club Fitter of the Year Awards were determined using a variety of criteria, including feedback from the Company's sales representatives, support of the Callaway Golf Custom Fitting Solution, and increased sales of Callaway Golf products after bringing the Fitting Solution on line at their facility. Many of the winners more than doubled their sales from the previous year, and, on average, the group increased their collective sales in 2004 by 25% over their 2003 totals.

The winners of the 2004 Callaway Golf Club Fitter of the Year Awards will be recognized at a reception during this week's PGA Merchandise Show in Orlando. The winners will also receive an all-expense paid trip to Callaway Golf headquarters in Carlsbad and a complimentary set of custom golf clubs.

The Callaway Golf Custom Fitting Solution program was launched in June 2001 and has grown to include hundreds of golf facilities around the world. The distinctive Callaway Golf Custom Fitting Solution carts are powered by IBM® ThinkPad® notebook computers, utilize proprietary swing analysis and ball-flight technology, and are operated by fitting professionals who have received special training from Callaway Golf.

Callaway Golf Company makes and sells Big Bertha® Metal Woods, Irons and Hybrids including Heavenwood® Hybrids, ERC® Fusion® Drivers and Fairway Woods, Great Big Bertha II 415 Titanium Drivers, Big Bertha Titanium 454 Drivers and Big Bertha Stainless Steel Fairway Woods, Big Bertha Heavenwood® Hybrids, Big Bertha Stainless Steel Irons, X-18™ and X-18 Pro Series Irons, the Game Enjoyment System(TM) of GES(TM) Golf Clubs, Callaway Golf Forged+ Wedges, and Callaway Golf Tour Blue(TM) Putters. Callaway Golf Company also makes and sells Odyssey® Putters, including White Steel®, White Hot®, TriHot®, DFX®, Dual Force® and 2-Ball Putters. Callaway Golf Company makes and sells the Callaway Golf® HX® Tour Balls, HX Blue and HX Red Balls, HX Hot Balls, Big Bertha(TM) Blue and Big Bertha Red Balls, and the Warbird(TM) Balls. Callaway Golf also owns and operates The Top-Flite Golf Company, a wholly owned subsidiary that includes the Top-Flite®, Strata® and Ben Hogan® brands and Bettinardi Putters. For more information about Callaway Golf Company, please visit our websites at www.callawaygolf.com, www.topflite.com and www.odysseygolf.com.

CONTACT: Callaway Golf Company
Larry Dorman, Mike Galeski
760-931-1771
SOURCE: Callaway Golf Company