CARLSBAD, CA., April 30, 2001 – The No. 1 driver on the PGA European Tour scored its second victory of the season yesterday, as Callaway Golf (NYSE: ELY) Staff Professional Phillip Price used an ERC™ II Forged Titanium Driver in his win at the Portuguese Open. Price's come-from-behind victory included a dazzling final-round 64 to claim the event title for the second time in his career.

It was a two-win weekend for Callaway Golf's “Rule 35”® ball. While Price was winning in Portugal with the “Rule 35” Softfeel™ (blue logo) ball, Callaway Golf Staff Professional Rosie Jones was on her way to a playoff victory at the LPGA's Kathy Ireland Championship using the “Rule 35” Firmfeel™ (red logo) ball. The “Rule 35” ball has now been used to win 12 events across the world's five major professional tours combined this season – the second-highest win total of any golf ball manufacturer this year. Callaway Golf leads the tours in driver, iron and putter wins.

The highlight of Price's performance at the Portuguese Open was a 10-birdie outburst in the final round, which helped him make up a four-stroke deficit. His 15-under-par 273 left him two strokes clear of the field, and the victory moved him to sixth on the points list for the European Ryder Cup team. “I got off to a great start and played lovely golf all day,” Price said. “I hit some really good shots under pressure and played every shot with confidence.”

Price carried 11 Callaway Golf® clubs in his victory. In addition to his ERC II Forged Titanium Driver, he used a Big Bertha Steelhead® Strong 3-wood and Steelhead X-14® Pro Series Irons. Callaway Golf Staff Professional Alastair Forsyth finished tied for fourth using 12 Callaway Golf clubs, including a ERC II Forged Titanium Driver, Big Bertha Steelhead Plus 3-wood and 5-wood, Steelhead X-14 Irons and an Odyssey® TriHot™ 3 Putter. Forsyth also used the “Rule 35” Firmfeel model, and Callaway Golf balls accounted for three of the top six spots on the leaderboard.

Including Price and Forsyth, seven of the top 14 finishers at the Portuguese Open used ERC II Drivers. The ERC II continues to be the most-played driver model on the PGA European Tour this year, and 40 golfers used the ERC II in Portugal. Only three Callaway Golf Staff Professionals played in the event, meaning the other 37 golfers who chose to use an ERC II did so without any financial incentive.

Meanwhile, Jones won the Kathy Ireland Championship in dramatic fashion. After birdieing the 18th hole to force a playoff, Jones birdied the hole again to win on the first playoff hole. The LPGA Tour's leader in driving accuracy carded four rounds in the 60s en route to a 12-under 268. Jones used 13 Callaway Golf clubs in her 11th career LPGA Tour victory, including a Hawk Eye® Pro Series Titanium Driver, Steelhead Fairway Woods, Big Bertha X-12® Irons and an Odyssey Dual Force® Rossie® 2 Putter. Jones led a group of five golfers among the top 11 finishers to use the “Rule 35” Firmfeel model, and Callaway Golf was second in ball usage at the event with 37 balls in play.

“Rule 35” balls were also the second most-played balls on the Senior PGA Tour last week, but Callaway Golf nearly claimed the top spot for the week. There were 35 golfers using “Rule 35” balls at the Bruno's Memorial Classic, just one fewer than the leading ball brand. Leading the “Rule 35” charge was Callaway Golf Staff Professional Stewart Ginn, who finished second using the Firmfeel model. Ginn used 13 Callaway Golf clubs in the best finish of his senior career, including a Big Bertha Hawk Eye VFT Pro Series Titanium Driver, a Steelhead Plus 3-wood, Steelhead X-14 Pro Series Irons and an Odyssey Dual Force Rossie 1 Putter.

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, www.callawaygolfball.com and www.odysseygolf.com.

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