CARLSBAD, CA., Oct. 29, 2001 – Callaway Golf (NYSE: ELY) Staff Professional Annika Sorenstam continued the greatest year of her storied career by winning the Cisco Ladies Match Play World Championship in Japan yesterday. Sorenstam's victory is her seventh of the year and assured her of her fourth Rolex Player of the Year award.

“This year has been incredible for me with the records I've set and the tournaments I've won,” said Sorenstam, who defeated Se Ri Pak 1-up in the final match of the championship. “I've worked harder than ever, and winning the player of the year award at the end of a season like this is a dream come true.”

The victory was the 30th of Sorenstam's career, and her 2001 earnings of $1,828,868 brings her within $50,000 of the LPGA Tour single-season record with five events left on the schedule. Sorenstam's remarkable run this year includes a stretch of four consecutive victories and her record-setting round of 59. In addition to money won and Rolex Player of the Year points, Sorenstam also leads the LPGA Tour in scoring average (69.44) and greens hit in regulation (79.8 percent).

Sorenstam rallied from 4-down to defeat Pak in the final match of the Cisco Ladies Match Play World Championship. She turned the tide by rolling in three consecutive birdies with the much-heralded new Odyssey® White Hot® “2-Ball” Putter, which she put in play prior to this week's event. Callaway Golf Staff Professional Paul Lawrie also used the unique putter in his dramatic victory at last week's Dunhill Links Championship. Sorenstam used 11 Callaway Golf® clubs at the Cisco Ladies Match Play World Championship, including a Big Bertha® Hawk Eye® VFT® Pro Series Titanium Driver, Steelhead Plus® 3-wood and 7-wood, and Steelhead™ X-14® Irons, along with a Callaway Golf ball.

Elsewhere, Callaway Golf Staff Professional Per-Ulrik Johansson used his Odyssey White Hot “2-Ball” Putter to secure his 2002 PGA Tour card with a top-10 finish at the Buick Challenge. Johansson, who put the putter in his bag prior to the first round at Callaway Gardens, averaged 25.5 putts per round to post his second-best finish of the 2001 season, shooting a 16-under-par 272. Callaway Golf Staff Professional Charles Howell III also used an Odyssey White Hot “2-Ball” Putter to finish tied for 12th at 12-under-par 276. Howell and Johansson each used Callaway Golf's new CTU 30™ Red ball at the Buick Challenge.

Callaway Golf's other new ball – the aerodynamically advanced HX™ – was also used to post a pair of high finishes yesterday. The second-place finisher at the Senior Tour Championship used the HX Red model, ranking second in greens hit in regulation and fourth in driving accuracy at the event. And Callaway Golf Staff Professional Tohru Taniguchi also used the HX Red ball to finish tied for second at the Philip Morris Championship on the Japan Golf Tour. A total of 25 golfers put the HX Blue and Red ball models in play across the PGA, Senior PGA and PGA European tours this week, making the HX the third most-played ball model on those three tours combined.

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® HX™ Red and HX Blue balls, Rule 35® Firmfeel™ and Softfeel™ balls, the CTU 30™ Red and CTU 30 Blue balls, and the CB1™ Red and CB1 Blue 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