CARLSBAD, Calif. -- Callaway Golf Company (NYSE:ELY) announced that the Board of Directors has declared a dividend of $.07 per share, payable October 4, 2006, to shareholders of record as of September 13, 2006.

Through an unwavering commitment to innovation, Callaway Golf 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), Top-Flite(R), Odyssey(R) and Ben Hogan(R) brands. For more information visit www.callawaygolf.com.

Media Contact:
Callaway Golf Company
Brad Holiday or Larry Dorman
760-931-1771