CARLSBAD, Calif. – Oct. 14, 2004 – Callaway Golf Company (NYSE:ELY) has announced that it will release its third quarter 2004 financial results on Tuesday, October 19, 2004.

The Company will subsequently hold a conference call with financial analysts and investors to review the results at 2:00 p.m. PDT that same day. The call will be hosted by William C. Baker, Chairman and Chief Executive Officer and Brad Holiday, Senior Executive Vice President and Chief Financial Officer.

The call will be broadcast live over the Internet and can be accessed at www.callawaygolf.com. To listen to the call, go to the website at least 15 minutes before the call to register and for instructions on how to access the broadcast.

A replay of the conference call will be available approximately two hours after the conclusion of the conference call. The replay may be accessed through the Internet at
www.callawaygolf.com or by telephone by calling (800) 642-1687 for calls originating within the United States or (706) 645-9291 for international calls. The password is 1386836 and the replay will be available through 9:00 p.m. PDT, on Tuesday, October 26, 2004.

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
Barb West, 760-931-1771
Investor Relations