Callaway Golf Ends Endorsement Contract With John Daly

Callaway Golf Company (NYSE: ELY) announced today that it has ended its endorsement contract with professional golfer John Daly, effective immediately. Mr. Daly had become a Callaway Golf Staff Professional in May of 1997 following his completion of an alcohol treatment program at the Betty Ford Center in Rancho Mirage, California. A company spokesman reported that Mr. Daly's endorsement agreement required that he not consume alcoholic beverages or engage in any gambling activity during the term of the contract. The spokesman confirmed that Mr. Daly recently had breached these provisions. When Mr. Daly declined to submit himself, at the Company's expense, into the intensive professional care of a recognized specialist in the field of alcohol and gambling rehabilitation, the Company exercised its right to terminate the endorsement agreement. "We care a great deal for John as a person, a golfer and a friend, and we are grateful for the period of time he successfully supported the Company and its products as a member of our Professional Staff," said Ely Callaway, Founder and Chairman of Callaway Golf. "Regrettably, we cannot continue to have John as a Company representative when he is not prepared to take the future steps that we and our expert advisors feel are necessary to deal with the alcohol and gambling problems facing him. "We congratulate John for being the longest driver on the PGA Tour during his association with us and for his period of sobriety for more than two years. We wish John the very best and hope that someday he listens to those who love him and gets the help he needs." For more information on Callaway Golf products, visit the company's Web site at If you would like to receive Callaway Golf's press releases via e-mail in the future, please send your request to: ots Original Text Service: Callaway Golf Company Internet: Contact: Larry Dorman of Callaway Golf Company, 760-931-1771 (in the USA) Company News On-Call: or fax, 800-758-5804, ext. 124825 (in the USA) Web site:

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