Callaway Golf Announces Record Sales and More Than a 100% Increase in Earnings for 2007

Callaway Golf Company (NYSE:ELY) today announced its financial
results for the fourth quarter and full year ended December 31, 2007.
Highlights for the full year of 2007 included:

-- Net sales increased 10% to a record $1.125 billion, compared
to $1.018 billion for the same period in 2006.

-- Fully diluted earnings per share of $0.81 on 67.5 million
shares, an increase of 138% compared to fully diluted earnings
per share of $0.34 on 68.5 million shares in 2006.

-- Fully diluted earnings per share for 2007 included after-tax
charges of $0.08 for gross margin improvement initiatives.
Similarly, full year 2006 included after-tax charges of $0.04
for the integration of Top-Flite, $0.03 for restructuring, and
$0.02 for gross margin improvement initiatives. Excluding
these charges, the Company´s pro forma fully diluted earnings
per share for 2007 would have been $0.89, an increase of 107%
compared to $0.43 for 2006.

-- Gross profit for 2007 was $493.2 million or 44% of net sales
compared to $398.1 million or 39% of net sales a year ago. The
increase was primarily the result of gross margin improvement
initiatives announced in 2006 as well as an increased mix of
higher margin drivers and X-20 irons.

-- Operating expenses for 2007 were $403.0 million or 36% of net
sales compared to $361.0 million or 35% of net sales in 2006.
The increase was due primarily to higher employee annual
incentive compensation expense related to the Company´s
significantly improved financial performance as well as an
increase in marketing expense to support the Top-Flite
re-launch.

Highlights for the fourth quarter included:

-- Net sales were $174.4 million, a 3% decrease compared to
$179.9 million for the same period in 2006, which included
significantly more sales from new product launches.

-- Loss per share of $0.25 on 63.8 million shares, compared to a
loss per share of $0.15 on 67.0 million shares in the fourth
quarter of 2006.

-- The 2007 fourth quarter loss per share included an after-tax
charge of $0.01 related to gross margin improvement
initiatives announced in November 2006. The fourth quarter of
2006 also included after-tax charges of $0.01 for gross margin
improvement initiatives and $0.01 for the restructuring
charges announced in 2005. Excluding these charges, the
Company´s pro forma loss per share for the fourth quarter of
2007 would have been $0.24, as compared to pro forma loss per
share of $0.13 in the prior period.

-- Gross profit for the fourth quarter of 2007 was $63.4 million
or 36% of net sales compared to $58.8 million or 33% of net
sales for the fourth quarter of 2006.

-- Operating expenses for the fourth quarter of 2007 were $92.0
million compared to $79.9 million for the same period in 2006.

"We have made significant progress improving operations and
profitability in 2007," announced George Fellows, President and CEO.
"Specifically, we were able to re-gain woods market share, re-launch
the Top-Flite Brand with the successful introduction of the D2 golf
ball, and grow our accessories business. In addition, we made
significant progress in improving profitability, increasing our gross
margins by five percentage points, which contributed to a $135 million
increase in cash from operations."

"While pleased with our progress so far, we continue to focus on
improvement," continued Mr. Fellows. "We have a strong line-up of 2008
products including our recently announced I-Mix driver with its state
of the art technology aimed at providing the best and most flexible
performance possible for our consumers. Another area we are targeting
is supply chain management, where we´ve made tremendous progress in
2007 but believe there is still room to drive efficiencies. With this
strong portfolio of products along with improved operations, we feel
well positioned to sustain the momentum we enjoyed in 2007."

Business Outlook

The Company estimates that its full year 2008 net sales will be in
the range of $1.145 to $1.165 billion. The Company also estimates that
its 2008 full year pro forma fully diluted earnings per share will be
in the range of $1.08 to $1.18, which represents an estimated increase
of 21% to 33% as compared to the Company´s pro forma fully diluted
earnings per share in 2007 of $0.89 as discussed above. Estimated pro
forma earnings for 2008 exclude estimated charges of approximately
$0.08 per share related to the Company´s gross margin initiatives.

The Company´s earnings per share estimates for 2008 assume a base
of 67.0 million shares.

The Company will be holding a conference call at 2:00 p.m. PST
today. The call will be broadcast live over the Internet and can be
accessed at www.callawaygolf.com. To listen to the call, please 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 three hours after the
call ends, and will remain available through 9:00 p.m. PST on
Thursday, February 7, 2008. The replay may be accessed through the
Internet at www.callawaygolf.com or by telephone by calling
1-800-475-6701 toll free for calls originating within the United
States or 320-365-3844 for International calls. The replay pass code
is 908304.

Disclaimer: Statements used in this press release that relate to
future plans, events, financial results, performance or prospects,
including statements relating to estimated sales and earnings for
2008, and the estimated charges for the Company´s gross margin
initiatives, are forward-looking statements as defined under the
Private Securities Litigation Reform Act of 1995. These estimates and
statements are based upon current information and expectations.
Accurately estimating the Company´s future financial performance is
based upon various unknowns including consumer acceptance and demand
for the Company´s current or new products as well as future consumer
discretionary purchasing behavior, which can be significantly
adversely affected by unfavorable economic or market conditions.
Actual results may differ materially from those estimated or
anticipated as a result of these unknowns or other risks and
uncertainties, including delays, difficulties or increased costs in
the supply of components needed to manufacture the Company´s products,
in manufacturing the Company´s products, or in connection with the
implementation of the Company´s planned gross margin initiatives or
the implementation of future initiatives; adverse weather conditions
and seasonality; any rule changes or other actions taken by the USGA
or other golf association that could have an adverse impact upon
demand or supply of the Company´s products; a decrease in
participation levels in golf; and the effect of terrorist activity,
armed conflict, natural disasters or pandemic diseases on the economy
generally, on the level of demand for the Company´s products or on the
Company´s ability to manage its supply and delivery logistics in such
an environment. For additional information concerning these and other
risks and uncertainties that could affect these statements and the
Company´s business, see Part I, Item 1A of the Company´s Annual Report
on Form 10-K for the year ended December 31, 2006, as well as other
risks and uncertainties detailed from time to time in the Company´s
reports on Forms 10-K, 10-Q and 8-K subsequently filed from time to
time with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company
undertakes no obligation to republish revised forward-looking
statements to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.

Regulation G: The financial results reported in this press release
have been prepared in accordance with accounting principles generally
accepted in the United States ("GAAP"). In addition to the GAAP
results, the Company has also provided additional information
concerning its results, which includes certain financial measures not
prepared in accordance with GAAP. The non-GAAP financial measures
included in this press release exclude charges associated with the
integration of the Callaway Golf Company and Top-Flite Golf Company
operations, charges related to the September 2005 restructuring
initiatives, and charges related to the Company´s gross margin
initiatives. These non-GAAP financial measures should not be
considered a substitute for any measure derived in accordance with
GAAP. These non-GAAP financial measures may also be inconsistent with
the manner in which similar measures are derived or used by other
companies. Management believes that the presentation of such non-GAAP
financial measures, when considered in conjunction with the most
directly comparable GAAP financial measures, provides additional
useful information concerning the Company´s operations without these
charges. The Company has provided reconciling information in the text
of this press release and in the accompanying schedules.

About Callaway Golf

Through an unwavering commitment to innovation, Callaway Golf
Company (NYSE:ELY) 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), Odyssey(R), Top-Flite(R), and Ben Hogan(R) brands in
more than 110 countries worldwide. For more information please visit
www.callawaygolf.com or www.shop.callawaygolf.com.

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Callaway Golf Company
Consolidated Condensed Balance Sheets
(In thousands)
(Unaudited)

December 31,
2007 2006
--------------- ---------------

ASSETS
Current assets:
Cash and cash equivalents $ 49,875 $ 46,362
Accounts receivable, net 112,064 118,133
Inventories, net 253,001 265,110
Deferred taxes 42,219 32,813
Income taxes receivable 9,232 9,094
Other current assets 30,190 21,688
--------------- ---------------
Total current assets 496,581 493,200

Property, plant and equipment, net 128,036 131,224
Intangible assets, net 173,045 175,159
Deferred taxes 27,028 18,821
Other assets 32,273 27,543
--------------- ---------------
$ 856,963 $ 845,947
=============== ===============

LIABILITIES AND SHAREHOLDERS´ EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 130,410 $ 111,360
Accrued employee compensation and
benefits 44,245 18,731
Accrued warranty expense 12,386 13,364
Credit facilities 36,507 80,000
--------------- ---------------
Total current liabilities 223,548 223,455

Long-term liabilities 63,207 43,388

Minority interest 1,978 1,987

Shareholders´ equity 568,230 577,117
--------------- ---------------
$ 856,963 $ 845,947
=============== ===============
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Callaway Golf Company
Statements of Operations
(In thousands, except per share data)
(Unaudited)

Quarter Ended December 31,
----------------------------
2007 2006
----------- -----------

Net sales $ 174,418 100% $ 179,884 100%
Cost of sales 111,047 64% 121,112 67%
----------- -----------
Gross profit 63,371 36% 58,772 33%
Operating expenses:
Selling 59,951 34% 52,404 29%
General and administrative 23,921 14% 20,483 11%
Research and development 8,169 5% 6,999 4%
----------- -----------
Total operating expenses 92,041 53% 79,886 44%
Loss from operations (28,670) -16% (21,114) -12%
Other income (expense), net 98 (28)
----------- -----------
Loss before income taxes (28,572) -16% (21,142) -12%
Income tax benefit (12,415) (10,948)
----------- -----------
Net loss $ (16,157) -9% $ (10,194) -6%
=========== ===========

Loss per common share:
Basic ($0.25) ($0.15)
Diluted ($0.25) ($0.15)
Weighted-average shares outstanding:
Basic 63,765 66,993
Diluted 63,765 66,993

Year Ended December 31,
----------------------------
2007 2006
----------- -----------

Net sales $1,124,591 100% $1,017,907 100%
Cost of sales 631,368 56% 619,832 61%
----------- -----------
Gross profit 493,223 44% 398,075 39%
Operating expenses:
Selling 281,960 25% 254,526 25%
General and administrative 89,060 8% 79,709 8%
Research and development 32,020 3% 26,785 3%
----------- -----------
Total operating expenses 403,040 36% 361,020 35%
Income from operations 90,183 8% 37,055 4%
Other expense, net (1,908) (2,057)
----------- -----------
Income before income taxes 88,275 8% 34,998 3%
Income tax provision 33,688 3% 11,708
----------- -----------
Net income $ 54,587 5% $ 23,290 2%
=========== ===========

Earnings per common share:
Basic $ 0.82 $ 0.34
Diluted $ 0.81 $ 0.34
Weighted-average shares outstanding:
Basic 66,371 67,732
Diluted 67,484 68,503
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Callaway Golf Company
Consolidated Condensed Statements of Cash Flows
(In thousands)
(Unaudited)

Year Ended December 31,
-----------------------
2007 2006
----------- -----------
Cash flows from operating activities:
Net income $ 54,587 $ 23,290
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 35,326 32,274
Non-cash share-based compensation 10,851 11,921
Deferred taxes 904 673
Loss (gain) on disposal of assets (4,731) 1,135
Changes in assets and liabilities, net of
effects from acquisitions 55,045 (52,312)
----------- -----------
Net cash provided by operating activities 151,982 16,981
----------- -----------

Cash flows from investing activities:
Capital expenditures (32,930) (32,453)
Proceeds from sale of capital assets 11,460 469
Investment in golf related ventures (3,698) (10,008)
Business acquisitions, net of cash acquired - 374
----------- -----------
Net cash used in investing activities (25,168) (41,618)
----------- -----------

Cash flows from financing activities:
Issuance of common stock 48,035 9,606
Dividends paid, net (18,755) (19,212)
Acquisition of treasury stock (114,795) (52,872)
Tax benefit from exercise of stock option 6,031 884
Proceeds from (payments on) credit
facilities, net (43,493) 80,000
Other financing activities (9) 1,971
----------- -----------
Net cash (used in) provided by financing
activities (122,986) 20,377
----------- -----------

Effect of exchange rate changes on cash and
cash equivalents (315) 1,141
----------- -----------
Net increase (decrease) in cash and cash
equivalents 3,513 (3,119)
Cash and cash equivalents at beginning of
period 46,362 49,481
----------- -----------
Cash and cash equivalents at end of period $ 49,875 $ 46,362
=========== ===========
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Callaway Golf Company
Consolidated Net Sales and Operating Segment Information
(In thousands)
(Unaudited)

Net Sales by Product Category
-----------------------------------------------------------------

Quarter Ended
December 31, Growth/(Decline)
----------------- ----------------
2007 2006 Dollars Percent
-------- -------- -------- -------
Net sales:
Woods $ 32,291 $ 39,321 $(7,030) -18%
Irons (1) 45,811 45,286 525 1%
Putters 20,542 17,569 2,973 17%
Golf balls 37,724 47,250 (9,526) -20%
Accessories and other (1) 38,050 30,458 7,592 25%
-------- -------- --------
$174,418 $179,884 $(5,466) -3%
======== ======== ========

Year Ended
December 31, Growth/(Decline)
--------------------- -----------------
2007 2006 Dollars Percent
---------- ---------- --------- -------
Net sales:
Woods $ 305,880 $ 266,478 $ 39,402 15%
Irons 309,594 287,960 21,634 8%
Putters 109,068 102,714 6,354 6%
Golf balls 213,064 214,783 (1,719) -1%
Accessories and other 186,985 145,972 41,013 28%
---------- ---------- ---------
$1,124,591 $1,017,907 $106,684 10%
========== ========== =========

(1) Prior periods have been restated to reflect current period
classification.
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Net Sales by Region
-----------------------------------------------------------------

Quarter Ended
December 31, Growth/(Decline)
----------------- -----------------
2007 2006 Dollars Percent
-------- -------- --------- -------
Net sales:
United States $ 85,053 $ 95,772 $(10,719) -11%
Europe 26,046 26,264 (218) -1%
Japan 23,207 22,313 894 4%
Rest of Asia 17,127 14,741 2,386 16%
Other foreign countries 22,985 20,794 2,191 11%
-------- -------- ---------
$174,418 $179,884 $ (5,466) -3%
======== ======== =========

Year Ended
December 31, Growth/(Decline)
--------------------- ----------------
2007 2006 Dollars Percent
---------- ---------- -------- -------
Net sales:
United States $ 597,569 $ 566,600 $ 30,969 5%
Europe 193,336 159,886 33,450 21%
Japan 120,148 105,705 14,443 14%
Rest of Asia 86,133 75,569 10,564 14%
Other foreign countries 127,405 110,147 17,258 16%
---------- ---------- --------
$1,124,591 $1,017,907 $106,684 10%
========== ========== ========

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Operating Segment Information
-----------------------------------------------------------------

Quarter Ended
December 31, Growth/(Decline)
------------------- ----------------
2007 2006 Dollars Percent
--------- --------- -------- -------
Net sales:
Golf clubs $136,694 $132,634 $ 4,060 3%
Golf balls 37,724 47,250 (9,526) -20%
--------- --------- --------
$174,418 $179,884 $(5,466) -3%
========= ========= ========

Income before provision for income taxes:
Golf clubs $ (4,096) $ (94) $(4,002) -4257%
Golf balls (7,699) (4,615) (3,084) -67%
Reconciling items (2) (16,777) (16,433) (344) -2%
--------- --------- --------
$(28,572) $(21,142) $(7,430) -35%
========= ========= ========

Year Ended
December 31, Growth/(Decline)
----------------------- -----------------
2007 2006 Dollars Percent
----------- ----------- --------- -------
Net sales:
Golf clubs $ 911,527 $ 803,124 $108,403 13%
Golf balls 213,064 214,783 (1,719) -1%
----------- ----------- ---------
$1,124,591 $1,017,907 $106,684 10%
=========== =========== =========

Golf clubs $ 151,759 $ 101,837 $ 49,922 49%
Golf balls 902 (6,396) 7,298 114%
Reconciling items (2) (64,386) (60,443) (3,943) -7%
----------- ----------- ---------
$ 88,275 $ 34,998 $ 53,277 152%
=========== =========== =========

(2) Represents corporate general and administrative expenses and
other income (expense) not utilized by management in determining
segment profitability.
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Callaway Golf Company
Supplemental Financial Information
(In thousands, except per share data)
(Unaudited)

Quarter Ended December 31,
--------------------------------
2007
--------------------------------

Pro Forma Gross Margin
Callaway Improvement Total as
Golf Initiatives Reported
--------------------------------
Net sales $174,418 $ - $174,418
Gross profit 64,797 (1,426) 63,371
% of sales 37% n/a 36%
Operating expenses 92,041 - 92,041
--------- ------------ ---------
Loss from operations (27,244) (1,426) (28,670)
Other income (expense), net 98 - 98
--------- ------------ ---------
Loss before income taxes (27,146) (1,426) (28,572)
Income tax benefit (11,900) (515) (12,415)
--------- ------------ ---------
Net income (loss) $(15,246) $ (911) $(16,157)
========= ============ =========

Diluted earnings (loss) per share: $ (0.24) $ (0.01) $ (0.25)
Weighted-average shares outstanding: 63,765 63,765 63,765

Quarter Ended December 31,
--------------------------------------------------------
2006
--------------------------------------------------------

Pro
Forma Gross Total
Callaway Margin Integration Restructur- as
Golf Initiatives Charges ing Charges Reported
--------- ------------ ----------- ----------- ---------
Net sales $179,884 $ - $ - $ - $179,884
Gross profit 60,496 (1,504) (85) (135) 58,772
% of sales 34% n/a n/a n/a 33%
Operating
expenses 78,683 - (84) 1,287 79,886
--------- ------------ ----------- ----------- ---------
Loss from
operations (18,187) (1,504) (1) (1,422) (21,114)
Other income
(expense),
net (28) - - - (28)
--------- ------------ ----------- ----------- ---------
Loss before
income taxes (18,215) (1,504) (1) (1,422) (21,142)
Income tax
benefit (9,685) (595) (64) (604) (10,948)
--------- ------------ ----------- ----------- ---------
Net income
(loss) $ (8,530) $ (909) $ 63 $ (818) $(10,194)
========= ============ =========== =========== =========

Diluted
earnings
(loss) per
share: $ (0.13) $ (0.01) $ 0.00 $ (0.01) $ (0.15)
Weighted-
average
shares
outstanding: 66,993 66,993 66,993 66,993 66,993

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Year Ended December 31,
------------------------------------
2007
------------------------------------

Pro Forma Gross Margin
Callaway Improvement Total as
Golf Initiatives Reported
----------- ------------ -----------
Net sales $1,124,591 $ - $1,124,591
Gross profit 502,124 (8,901) 493,223
% of sales 45% n/a 44%
Operating expenses 403,040 - 403,040
----------- ------------ -----------
Income (loss) from operations 99,084 (8,901) 90,183
Other expense, net (1,908) - (1,908)
----------- ------------ -----------
Income (loss) before income
taxes 97,176 (8,901) 88,275
Income tax provision 37,115 (3,427) 33,688
----------- ------------ -----------
Net income (loss) $ 60,061 $(5,474) $ 54,587
=========== ============ ===========

Diluted earnings (loss) per
share: $ 0.89 $ (0.08) $ 0.81

Weighted-average shares
outstanding: 67,484 67,484 67,484

Year Ended December 31,
-----------------------------------------------------
2006
-----------------------------------------------------

Gross
Pro Forma Margin Integra- Total
Callaway Initia- tion Restructur- as
Golf tives Charges ing Charges Reported
----------- -------- -------- ----------- -----------
Net sales $1,017,907 $ - $ - $ - $1,017,907
Gross profit 403,670 (1,853) (3,451) (291) 398,075
% of sales 40% n/a n/a n/a 39%
Operating
expenses 357,700 - 588 2,732 361,020
----------- -------- -------- ----------- -----------
Income (loss)
from operations 45,970 (1,853) (4,039) (3,023) 37,055
Other expense,
net (2,057) - - - (2,057)
----------- -------- -------- ----------- -----------
Income (loss)
before income
taxes 43,913 (1,853) (4,039) (3,023) 34,998
Income tax
provision 15,140 (713) (1,555) (1,164) 11,708
----------- -------- -------- ----------- -----------
Net income
(loss) $ 28,773 $(1,140) $(2,484) $(1,859) $ 23,290
=========== ======== ======== =========== ===========

Diluted earnings
(loss) per
share: $ 0.43 $ (0.02) $ (0.04) $ (0.03) $ 0.34

Weighted-average
shares
outstanding: 68,503 68,503 68,503 68,503 68,503

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Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA):

2007 Trailing Twelve Months EBITDA
------------------------------------------------------
Quarter Ended
------------------------------------------------------
March 31, June 30, September 30, December 31,
2007 2007 2007 2007 Total
--------- -------- ------------- ------------ --------
Net income
(loss) $32,836 $36,639 $ 1,269 $(16,157) $ 54,587
Interest
expense
(income), net 1,677 1,672 29 (216) 3,162
Income tax
provision
(benefit) 21,682 23,591 830 (12,415) 33,688
Depreciation
and
amortization
expense 9,009 8,591 9,864 7,862 35,326
--------- -------- ------------- ------------ --------
EBITDA $65,204 $70,493 $11,992 $(20,926) $126,763
========= ======== ============= ============ ========

2006 Trailing Twelve Months EBITDA
-----------------------------------------------------
Quarter Ended
-----------------------------------------------------
March 31, June 30, September 30, December 31,
2006 2006 2006 2006 Total
--------- -------- ------------- ------------ -------
Net income
(loss) $22,861 $22,539 $(11,916) $(10,194) $23,290
Interest expense
(income), net 533 1,522 1,132 905 4,092
Income tax
provision
(benefit) 13,797 14,934 (6,075) (10,948) 11,708
Depreciation and
amortization
expense 7,290 7,935 8,736 8,313 32,274
--------- -------- ------------- ------------ -------
EBITDA $44,481 $46,930 $ (8,123) $(11,924) $71,364
========= ======== ============= ============ =======

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Callaway Golf Product Launch Schedule

2007 2008
----------- -----------
Major First Half
Launches:
Drivers: Drivers:
-- Big Bertha 460 Feb-2007 -- Hyper X Jan-2008
Drivers Drivers
-- FT-5 Drivers Feb-2007 -- Big Bertha Jan-2008
(Phased Womens Drivers
sell-in
early Q2)
-- FT-I Drivers Feb-2007 -- FT-I (Low Feb-2008
(Phased Trajectory)
sell-in
early Q2)
-- Hyper ERC Drivers Feb-2007 -- Legacy Driver Feb-2008
(Japan Only) (Asia Only)
-- IMIX Drivers Mar-2008

Fairway Woods: Fairway Woods:
-- X Hot Fwy Woods Jan-2007 -- Big Bertha Jan-2008
Womens Fwy Woods
-- Big Bertha Fwy Woods Feb-2007 -- Hyper X Fwy Jan-2008
Woods
-- Fusion Fwy Jan-2008
Woods
-- FT-I Fwy Woods Mar-2008

Hybrids: Hybrids:
-- X Hybrids Jan-2007 -- FT Hybrids Feb-2008

Irons/Wedges: Irons/Wedges:
-- X-20 Irons Jan-2007 -- Big Bertha Jan-2008
Irons
-- X Forged Irons Mar-2007 -- Fusion Irons Jan-2008
-- Big Bertha Jan-2008
Womens Irons
-- X Forged Jan-2008
Wedges
-- FI i-brid Apr-2008
Irons

Putters: Putters:
-- Whitehot XG TwoBall Feb-2007 -- Black Series Jan-2008
SRT Putters Insert Putters
-- Black Series Putters Mar-2007 -- Sabertooth Mar-2008
Putters
-- Whitehot XG Marksman Apr-2007 -- Whitehot Tour Apr-2008
Putters Putters

Balls: Balls:
-- Top-Flite D2 Balls Jan-2007 -- Top-Flite Jan-2008
Gamer Balls
-- HX Hot Balls Jan-2007 -- Top-Flite Jan-2008
Freak Balls
-- Big Bertha Balls Jan-2007 -- Top-Flite XL Jan-2008
´08 Balls
-- Warbird Balls Jan-2007 -- Top-Flite XL Jan-2008
5000 Balls
-- Tour ix Balls Feb-2008
-- HX Hot Bite Feb-2008
Balls
-- Legacy Balls Mar-2008
(Asia Only)

Other: Other:
-- None -- GEM Sets Jan-2008

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Callaway Golf Product Launch Schedule

2007 2008
----------- -----------
Major Second Half Launches:
Drivers: Drivers:
-- None -- No public
information
available

Fairway Woods: Fairway Woods:
-- None -- No public
information
available

Hybrids: Hybrids:
-- None -- No public
information
available

Irons/Wedges: Irons/Wedges:
-- Marxman Chipper Oct-2007 -- No public
information
available

Putters: Putters:
-- Divine Line Nov-2007 -- No public
information
available
-- Black Series Insert Nov-2007

Balls: Balls:
-- None -- Tour i Balls Jul-2008

Other: Other:
-- TF Packaged Sets Dec-2007 -- No public
information
available
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