Callaway Golf Company Declares Dividend

Callaway Golf Company (NYSE:ELY) announced today that the Board of
Directors has declared a dividend of $.07 per share, payable September
20, 2007, to shareholders of record as of September 6, 2007.

About Callaway Golf

Through an unwavering commitment to innovation, Callaway Golf
Company creates products and services designed to make every golfer a
better golfer. Callaway Golf Company, which celebrates its 25th
Anniversary in 2007, manufactures and sells golf clubs and golf balls,
and sells golf accessories, under the Callaway Golf(R), Odyssey(R),
Top-Flite(R), and Ben Hogan(R) brands in more than 110 countries
worldwide. For more information please visit www.callawaygolf.com.