Promotion Offers Free Gas to Consumers

CARLSBAD, Calif.--(BUSINESS WIRE)--May 9, 2008--Callaway Golf announced today the start of a new Gas Giveaway promotion which offers a free American Express(R) Fill It Up(R) gas card with the purchase of a new FT-i,(R) FT-5(R) or Hyper X(TM) driver from authorized U.S. Callaway Golf retailers. With the price of gasoline steadily increasing, golfers can now get more distance out of their drives and their gas tanks.

The innovative Fusion(R) Technology found in the FT-i and FT-5 drivers and the Hyperbolic Face Technology(TM) embodied in the Hyper X driver that help deliver exceptional driving performance on the course, will now allow golfers the same benefit on the road. With the purchase of one of these clubs at authorized Callaway Golf retailers between May 15 and July 15, 2008, consumers will receive by mail up to a $100 card value American Express Fill It Up card to help defray the cost of gas at the pump.

"For years, Callaway Golf has introduced equipment designed to make the game easier," said Joe Urzetta, Senior Vice President of Sales for Callaway Golf. "Now we're hoping to help make your drive to the course easier, as well."

The Callaway Golf Gas Giveaway will be limited to one gas card per person and a maximum of five gas cards per household. For complete promotion rules, visit http://www.callawaygolf.com/Global/en-US/specialoffers/GasCard Promotion/GasCardOfficialRules.html (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) The Manufacturer's Suggested Retail Prices for the FT-i and FT-5 and Hyper X drivers are $499, $429 and $299 respectively.

About Callaway Golf

Through an unwavering commitment to innovation, Callaway Golf Company (NYSE: ELY) creates products and services designed to make every golfer a better golfer. Callaway Golf Company manufactures and sells golf clubs and golf balls, and sells golf accessories, under the Callaway Golf(R), Odyssey(R), Top-Flite(R), and Ben Hogan(R) brands in more than 110 countries worldwide. For more information please visit www.callawaygolf.com or Shop.CallawayGolf.com.

About the American Express Fill It Up(R) Gas Card

Gas Card will be issued in the name on the rebate form. Card can be used at virtually any gasoline merchant that welcomes American Express(R) Cards in the U.S. Card valid for 6 months; unused points will be forfeited the first day after the valid thru date, subject to applicable law. Usage restrictions and guidelines apply. Card cannot be redeemed for cash and is not transferable. The card is point based with 1 point = $1 in purchasing power. Card terms and conditions apply. See www.rewardearner.com/fillitup for further details. Allow 10-12 weeks for delivery.

CONTACT:
Callaway Golf
Tim Buckman, 760-804-4133
tim.buckman@callawaygolf.com
or
Michele Szynal, 760-804-4150
Michele.Szynal@callawaygolf.com

SOURCE: Callaway Golf Company