EUROPEAN NO. 1 EARNS SECOND VICTORY SINCE SWITCHING PUTTERS

CARLSBAD, CA, May 31, 2000 - Colin Montgomerie holed a trio of birdie putts on the final nine with an Odyssey® White Hot™ 4 Putter to win his third consecutive Volvo PGA Championship yesterday. Montgomerie's victory was one of two this past weekend for golfers using putters made by Odyssey Golf, a division of Callaway Golf Company (NYSE: ELY). Montgomerie's 24th PGA European Tour victory included a torrid stretch in the middle of the final round. He converted a short birdie putt at the 8th hole, then holed tricky par putts at 9 and 10. Montgomerie then birdied each of the next three holes, finishing the stretch with a 15-foot birdie putt on the 13th hole. After parring in, Montgomerie had posted a three-stroke victory.

“Those three birdies did it for me,” said Montgomerie. “I'm very proud to be the first to win this (event) three times in a row. This is the best start to a season I've ever had.” Montgomerie switched to an Odyssey White Hot 4 Putter after the first round of the French Open. He went on to shoot 68-65-68 over the final three rounds to win the tournament. At the Volvo PGA Championship, Montgomerie shot 67-65-70-69 with 23 birdies and just six bogeys. In all, four of the top 10 finishers at the event used Odyssey Putters.

Odyssey was also victorious on the Senior PGA Tour. The winner of the Boone Valley Classic used an Odyssey Dual Force® 554 Putter to record his second senior triumph of the season. The three-stroke victory elevated the winner to the top spot on this year's senior money list. Four of the top 11 finishers at the event used Odyssey Putters.

Odyssey Putters were also well-represented at the LPGA Corning Classic last weekend. Seven of the top 12 finishers used Odyssey Putters, including three players who used the new Odyssey White Hot 5 Putter Through May 29, Odyssey Putters are the most-played putters on the world's five major professional tours combined in 2000. According to the Darrell Survey Company and Sports Marketing Surveys, Ltd., 31.1 percent of all putters used on the PGA, Senior PGA, LPGA, BUY.COM and PGA European tours combined this year have been Odyssey Putters, compared with 22.5 percent for the nearest competitor.

Carlsbad-based Odyssey Golf, a division of Callaway Golf Company, produces the new White Hot™ Putter line, along with the Dual Force® Putter line and the TriForceÔ Putter line. For more information, please contact Odyssey Golf, 2285 Rutherford Road, Carlsbad, CA 92008-8815, or visit the Company's Web site at www.odysseygolf.com.

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