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Callaway Golf Declares Quarterly Dividends

CARLSBAD, Calif. Jan. 24, 2011 $0.01 March 15, 2011 February 18, 2011

$1.875 March 15, 2011 February 18, 2011

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 apparel, footwear and 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 .

Contact:

Brad Holiday

Eric Struik

(760) 931-1771

(Logo:  http://photos.prnewswire.com/prnh/20091203/CGLOGO)

SOURCE Callaway Golf Company

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