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 July 3

2008, to shareholders of record as of June 11, 2008. 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®

Odyssey®, Top–Flite®

and Ben Hogan® brands in more than 110

countries worldwide. For more information please visit www.callawaygolf.com or www.shop.callawaygolf.com.