Callaway Golf Company Declares Dividend

    CARLSBAD, CALIF., August 23 /CNW/ - 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

For further information:

For further information: Callaway Golf Company Brad Holiday Michele
Szynal 760-931-1771

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